Inventory $290,000; Allowance for Doubtful Accounts $8,000;
Patents $72,000; Prepaid Insurance $9,500; Accounts Payable
$77,000; Cash $30,000.
Patrick Corporation’s adjusted trial balance contained the following
asset accounts at December 31, 2014: Prepaid Rent $12,000;
Goodwill $50,000; Franchise Fees Receivable $2,000; Franchises
$47,000; Patents $33,000; Trademarks $10,000
Hawthorn Corporation’s adjusted trial balance contained the
following accounts at December 31, 2014: Retained Earnings
$120,000; Common Stock $750,000;
Keyser Beverage Company reported the following items in the most
recent year.
Ames Company reported 2014 net income of $151,000. During 2014,
accounts receivable increased by $13,000 and accounts payable
increased by $9,500. Depreciation expense was $44,000.
Martinez Corporation engaged in the following cash transactions
during 2014.
Martinez Corporation engaged in the following cash transactions
during 2014.
A comparative balance sheet for Shabbona Corporation is presented
below.
Chris Spear invested $15,000 today in a fund that earns 8%
compounded annually. (Use the tables below.)
Amy Monroe wants to create a fund today that will enable her to
withdraw $25,000 per year for 8 years, with the first withdrawal to
take place 5 years from today