3
Prepare a balance sheet in proper format for the company as of December 31st
based on the following accounts. Answer questions 8 through 10 based on this
balance sheet.
5
Accounts Payable
5,000
Long-term Notes Receivable
10,000
Accounts Receivable
15,000
Accrued Expenses
8
3,000
9
Cash
10,000
Short-term Notes Payable
7,000
Retained Eamings
2.000
Accumulated depreciation
2.000
Prepaid Expenses
3.000
Capital Stock
8,000
Supplies
7,000
8. What are the company's total liabilities?

Torino company has 1,300 shares of $50 par value, 6.0% cumulative and nonparticipating preferred stock and 13,000 shares of $10 par value common stock outstanding. the company paid total cash dividends of $3,500 in its first year of operation. the cash dividend that must be paid to preferred stockholders in the second year before any dividend is paid to common stockholders is:

The gomez company, a merchandising firm, has budgeted its activity for december according to the following information: • sales at $500,000, all for cash. • merchandise inventory on november 30 was $250,000. • the cash balance at december 1 was $20,000. • selling and administrative expenses are budgeted at $50,000 for december and are paid for in cash. • budgeted depreciation for december is $30,000. • the planned merchandise inventory on december 31 is $260,000. • the cost of goods sold represents 75% of the selling price. • all purchases are paid for in cash. the budgeted cash disbursements for december are:

Select the word from the list that best fits the definition sometimes