Business, 28.07.2020 19:01 krlx

The following is a December 31, 2018 Post closing trial balance 12/31/16 Account Title Debits Credits
Cash 40,000
Accounts receivable 34,000
Inventories 75,000
Prepaid rent 16,000
Marketable securities (short term)10,000
Machinery 145,000
Accumulated depreciation—machinery11,000
Patent (net of amortization) 83,000
Accounts payable 8,000
Wages payable 4,000
Taxes payable 32,000
Bonds payable (due in 10 years)200,000
Common stock 100,000
Retained earnings 48,000
Totals 403,000 403,00
Prepare a classified balance sheet for Jackson Corporation at December 31, 2016

Answers: 1

Show answers

Answers

Answer from: coxtinam16

Jackson Corporation

Balance sheet as at December 31, 2016

Assets

Non-Current Assets

Machinery 145,000

Accumulated depreciation—machinery (11,000) 134,000

Patent (net of amortization) 83,000

Total Non-Current Assets 217,000

Current Assets

Accounts receivable 34,000

Inventories 75,000

Prepaid rent 16,000

Marketable securities (short term) 10,000

Cash 40,000

Total Current Assets 175,000

Total Assets 392,000

Equity and Liabilities

Equity

Common stock 100,000

Retained earnings 48,000

Total Equity 148,000

Liabilities

Non Current Liabilities

Bonds payable (due in 10 years) 200,000

Total Non-current liabilities 200,000

Current Liabilities

Accounts payable 8,000

Wages payable 4,000

Taxes payable 32,000

Total Current Liabilities 44,000

Total Equity and Liabilities 392,000

Explanation:

A Balance Sheet is a list of Balances Assets, Equity and Liabilities as at the end of the Financial Period. This is prepared in terms of IAS 1 as part of the set of Financial Statements.

Answer from: Quest

there are so many examples for that in different areas, like biology experiment carried out in our lab recently.

here's one link :

Answer from: Quest

It's if you can't see their account. much like a twitter block, they might tell you.

Another question on Business

Business, 22.06.2019 22:30

Perry is a freshman, he estimates that the cost of tuition, books, room and board, transportation, and other incidentals will be $30000 this year. he expects these costs to rise about $1500 each year while he is in college. if it will take him 5 years to earn his bs, what is the present cost of his degree at an interest rate of 6%? if he earns and extra $10000 annually for 40 years, what is the present worth of his degree.?

Answers: 3

Answer

Business, 23.06.2019 17:00

Suppose that a recent celebrity endorsement made more people prefer this brand of cell phones. now, more cell phones are demanded at each price level. as a result of the increase in demand, the equilibrium price and the equilibrium quantity increases, decreases

Answers: 1

Answer

Business, 24.06.2019 00:00

Investing in yourself and your career often requires you to “play it safe”.

Answers: 1

Answer

Business, 24.06.2019 02:30

in the context of mintzberg's managerial roles, managers in the share information with people outside their departments or companies.

Answers: 1

Answer

You know the right answer?

The following is a December 31, 2018 Post closing trial balance 12/31/16 Account Title Debits Credi...