Guillen , Inc . began work on a $ 7,017,700 contract in 2012 to construct an office building . Guillen uses the completed-contract method . At December 31 , 2012 , the
Question 12
Lazaro , Inc . sells goods on the installment basis and uses the installment-sales method . Due to a customer default , Lazaro repossessed merchandise that was originally sold for
Question 13
Harding Corporation has the following accounts included in its December 31 , 2012 , trial balance : Accounts Receivable $ 110,240 ; Inventories $ 296,950 ; Allowance for Doubtful
Question 14
Patrick Corporation ' s adjusted trial balance contained the following asset accounts at December 31 , 2012 : Prepaid Rent $ 16,220 ; Goodwill $ 59,100 ; Franchise Fees Receivable
Question 15
Hawthorn Corporation ' s adjusted trial balance contained the following accounts at December 31 , 2012 : Retained Earnings $ 126,760 ; Common Stock $ 700,260 ; Bonds
Question 16
Keyser Beverage Company reported the following items in the most recent year .
Net income $ 45,190 Dividends paid 5,770 Increase in accounts receivable 10,140