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