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