Professional Documents
Culture Documents
$ 110,000.00
$ 290,000.00
Allowance for
doubtful account
Patents
Prepaid Insurance
Accounts Payable
$
$
$
$
8,000.00
72,000.00
9,500.00
77,000.00
Cash
30,000.00
Answer to Question
Current Assets
Cash
Account Receivable
Less: Allowance for
doubtful accounts
Inventories
Prepaid Insurance
Dbt
$ 30,000.00
110,000.00
8,000.00
$ 102,000.00
$ 290,000.00
$
9,500.00
$ 431,500.00
BE5-3
Outcast CompanyTrial Balance Dec. 31, 2014
Prepaid Rent
Debt Investment
(Trading)
5200
56000
Unearned Fees
Land (Held for
investment)
17000
42000
39000
Answer to Question
Long-term investments
Held-to-maturity securities
Long-term note receivables
Land held for investment
Total Investments
56,000.00
42,000.00
39,000.00
137,000.00
BE5-5
Crane Corporation Trial Balance Dec. 31, 2014
Equity Investments
(Trading)
Goodwill
Prepaid Insurance
Patents
Franchises
21,000.00
150,000.00
12,000.00
220,000.00
130,000.00
Answer to Question
Goodwill
Patents
Franchises
150,000.00
220,000.00
130,000.00
Total intangibles
500,000.00
BE5-7
Thomas CorporationAdjusted Trial Balance Dec. 31, 2014
Bonds Payable (due in 3 years)
Accounts Payable
Notes Payable
Salaries and Wages Payable
Income Taxes Payable
100,000.00
72,000.00
22,500.00
4,000.00
7,000.00
Answer to Question
Current liabilities
Notes payable
Accounts payable
Accrued salaries
Income taxes payable
BE5-9
22,500.00
72,000.00
4,000.00
7,000.00
105,500.00
Relating to BE5-8
Non-current liabilities
Bonds payable
Pension liability
Provision for warranties
400,000.00
375,000.00
0
775,000.00
BE5-11
Stowe Company's December 31, 2014
Investment in Common Stock
Retained Earnings
Trademarks
Preferred Stock
Common Stock
Deferred Income Taxes
Paid-in Capital in Excess of Par
Noncontrolling interest
70,000.00
114,000.00
31,000.00
152,000.00
55,000.00
88,000.00
174,000.00
63,000.00
Answer to Question
Equity
Shared Capital Preference
Shared Capital-Ordinary
Shared Premium- Ordinary
Retained Earnings
Minority Interest
152,000.00
70,000.00
174,000.00
114,000.00
63,000.00
Total Equity
573,000.00
BE5-13
Ames Company reported 2014
Net income
Accounts Receivable increase
Accounts Payable increase
Depreciation expense
151,000.00
13,000.00
9,500.00
44,000.00
Answer to Question
Cash flows from Operating Activities
Net income
Adjustments to reconcile net income
Provided by operating activities
Depreciation Expense
44,000.00
Increase in accounts rece
(13,000.00)
increase in accounts paya
9,500.00
Net cash provided by operating activities
BE5-15
relates to BE5-14
151,000.00
40,500.00
191,500.00
147,000.00
40,000.00
(95,000.00)
(100,000.00)
(8,000.00)
BE5-2
90,000.00
4,000.00
BE5-4
Accumulated
Depreciation- Building
Land
Timberland
Answer to Question
Property, plant, and equipment
Land
Buildings
Less: Accumulated deprecia
Equipment
Less: Accumulated deprecia
Timberland
Total Plant Property
BE5-6
Answer to Question
Intangible assets
Capitalized development costs
Goodwill
Franchises
Patents
Trademarks
BE5-8
Answer to Question
Current liabilities
Accounts payable
Unearned Rent Revenue
Wages payable
Interest payable
Provision for warranties
Income taxes payable
Total current liabilities
BE5-10
Noncontrolling interest
Answer to Question
Equity
Share capitalordinary shares
Share premiumordinary shares
Retained earnings
Accumulated other comprehensive income
Minority interest
Total equity
BE5-12
Keyser Beverage Company
Net income
Dividends Paid
Increase in Accounts Receivable
Increase in Accounts Payable
Purchase of Equipment (Capital Expend
Depreciation Expense
Issue of notes payable
Answer to Question
Operating Activities
Net Income
Depreciation Expense
4,000.00
Increase in accounts rec (10,000.00)
increase in accounts pay
7,000.00
Net cash provided by operating activit
Investing Activities
Purchase of equipment
Financing Activities
Issues notes payable
Dividends
Net Cash flow from financing
Net Change in cash
BE5-14
BE5-16
relates to BE5-14
Less:
Free Cashflo
Dbt
7,000.00
11,000.00
86,000.00
30,000.00
5,200.00
139,200.00
51,540.00
70,560.00
71,090.00
nd equipment
70,560.00
212,110.00
51,540.00
160,570.00
191,270.00
20,010.00
171,260.00
71,090.00
473,480.00
58,240.00
43,100.00
37,060.00
14,340.00
152,740.00
220,000.00
41,000.00
27,000.00
12,000.00
0
29,000.00
329,000.00
ensive loss
120,000.00
750,000.00
100,000.00
200,000.00
55,000.00
150,000.00
35,000.00
750,000.00
200,000.00
120,000.00
(150,000.00)
35,000.00
ensive income
955,000.00
40,000.00
5,000.00
10,000.00
7,000.00
8,000.00
4,000.00
20,000.00
40,000.00
1,000.00
41,000.00
(8,000.00)
20,000.00
(5,000.00)
15,000.00
48,000.00
191,000.00
(37,000.00)
(53,000.00)
101,000.00
400,000.00
400,000.00
(53,000.00)
(37,000.00)
(95,000.00)
215,000.00
E5-5
Current assets
Cash
Accounts receivable (net)
Inventory (lower-of-average-cost-or-mark
Equity investments (tr
124,650.00
Property, plant, and equipment
Buildings (net)
Equipment (net)
Land held for future use
Intangible assets
Goodwill
Cash surrender value of life insurance
Prepaid expenses
Current liabilities
Accounts payable
Notes payable (due next year)
Pension obligation
Rent payable
Premium on bonds payable
Long-term liabilities
Bonds payable
Stockholders equity
Common stock, $1.00 par, authorized
400,000 shares, issued
Additional paid-in capital
Retained earnings
?
231,950.00
341,950.00
402,950.00
144,650.00
574,650.00
164,650.00
179,650.00
81,950.00
91,950.00
13,950.00
139,650.00
126,950.00
86,650.00
50,950.00
54,950.00
504,650.00
291950
161950
Answer to Question
Current Assets
Cash
Trading Securities
Account Receivables
Less: Allowance for dou
231,950.00
124,650.00
360,900.00
18950
341,950
402,950.00
13,950.00
1,115,450.00
179,650.00
91,950.00
271,600.00
574,650.00
164,650.00
81,950.00
2,208,300.00
Total Assets
Liabilities and stockholder's equity
Account Payable
Notes Payale due next year
Rent Payable
139,650.00
126,950.00
50,950.00
317,550.00
E5-6
504,650.00
54,950.00
559,600.00
86,650.00
963,800.00
291,950.00
161950
790,600.00
Total equity
1,244,500.00
2,208,300.00
Geronimo Company
Cash
69,000.00
Accounts Receivables
40,500.00
Inventory
60,000.00
Equipment
84,000.00
Patents
21,000.00
Total
Answer to Question
274,500.00
E5-12
Dbt
Cash $ 197,000
Sales Revenue $ 8,100,000
Debt Investments (trading) (at cost, $145,000) 153,000
Cost of Goods Sold 4,800,000
Debt Investments (long-term) 299,000
Equity Investments (long-term) 277,000
Notes Payable (short-term) 90,000
Accounts Payable 455,000
Selling Expenses 2,000,000
Investment Revenue 63,000
Land 260,000
Buildings 1,040,000
Dividends Payable 136,000
Accrued Liabilities 96,000
Accounts Receivable 435,000
Accumulated DepreciationBuildings 152,000
Allowance for Doubtful Accounts 25,000
Administrative Expenses 900,000
Interest Expense 211,000
Inventory 597,000
Gain (extraordinary) 80,000
Notes Payable (long-term) 900,000
Equipment 600,000
Bonds Payable 1,000,000
Accumulated DepreciationEquipment 60,000
Franchises 160,000
Common Stock ($5 par)
Treasury Stock 191,000
Patents 195,000
Retained Earnings 78,000
Paid-in Capital in Excess of Par
Totals
Answer to Question
198,690.00
157,760.00
4,804,760.00
300,690.00
278,690.00
2,004,760.00
260,000.00
1,041,690.00
439,760.00
901,800.00
212,800.00
598,690.00
604,760.00
160,000.00
195,760.00
195,000.00
12,355,610.00
VIVALDI CORPORATION
Statement of Financial Position
31-Dec-10
Non-current assets
Long-term investments
Investments in bonds
Investments in capital shares
Total long-term investments
Property, plant, and equipment
Land
Buildings
Less: Accum. depreciation
Equipment
Less: Accum. Depreciation
Total property, plant, and
equipment.
Intangible assets
Franchise
Patent
Total intangible assets
Total non-current assets
Current assets
Inventories
Accounts receivable
Less: Allowance for doubtful
accounts
Trading securities
Cash
Total current assets
Total assets
1,041,690.00
152,000.00
604,760.00
60,000.00
439,760.00
29,760.00
195,760.00
18950
161950
106950
d Account Payable
m Liabilities
ders' equity
44,000.00
75,000.00
155,500.00
274,500.00
Cr
8,104,760.00
94,760.00
459,760.00
64,800.00
137,690.00
100,760.00
152,000.00
29,760.00
81,800.00
901,690.00
1,001,690.00
60,000.00
1,004,760.00
79,690.00
81,690.00
12,355,610.00
300,690.00
278,690.00
579,380.00
260,000.00
889,690.00
544,760.00
1,694,450.00
160,000.00
195,000.00
355,000.00
2,628,830.00
598,690.00
410,000.00
157,760.00
198,690.00
1,365,140.00
3,993,970.00
1,004,760.00
325,130.00
81,800.00
1,215,930.00
1,001,690.00
901,690.00
81,690.00
1,985,070.00
94,760.00
Sales
Investment Revenue
Cost of Good Solds
Selling expenses
Administratrive Expenses
Interest expenses
Net Income
459,760.00
137,690.00
100,760.00
792,970.00
2,778,040.00
3,993,970.00
8,104,760.00
64,800.00
(4,804,760.00)
(2,004,760.00)
(901,800.00)
(212,800.00)
245,440.00
79,690.00
245,440.00
325,130.00