The following list of accounts was provided by Churyk Transportation Corporation, which has an April 30 fiscal
Question:
The following list of accounts was provided by Churyk Transportation Corporation, which has an April 30 fiscal year- end. Using these accounts, prepare a balance sheet for Churyk Transportation Corporation for fiscal 2010.
Accounts Payable ……………………............……… $ 15,600
Accounts Receivable …………………………..........… 25,650
Accumulated Depreciation, Equipment ………. 57,450
Accumulated Depreciation, Buildings ….……… 66,800
Accumulated Depreciation, Trucks ………..…. 780,050
Allowance for Uncollectible Accounts ……..…… 4,700
Equipment ……………………………….............…… 140,500
Buildings …………………………………...............….. 137,500
Cash …………………………………………..............….. 39,650
Common Stock ……………………………...........…. 250,000
Installment Note Payable, Long- Term …..… 342,700
Interest Payable ……………………………...........….. 17,150
Investment in BR, Inc., Common Stock ………. 17,500
Land ……………………………………................………. 57,850
Mortgage Payable ……………………….........……… 44,150
Trade Notes Payable ……………………….........…. 58,500
Payroll Taxes Payable ……………………..........…… 7,450
Prepaid Insurance ………………………..........…… 18,250
Retained Earnings …………………………............………. ?
Salaries and Wages Payable ………….....……… 13,400
Supplies ……………………………………................….. 8,900
Temporary Investments (trading securities) … 60,750
Trucks ………………………….................………….. 1,392,700
Common StockCommon stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
Step by Step Answer:
Introduction to Accounting An Integrated Approach
ISBN: 978-0078136603
6th edition
Authors: Penne Ainsworth, Dan Deines