Entries by Munene david

The following is the Easton Company’s adjusted Trial Balance

May 6, 2020 in /by

The following is the Easton Company’s adjusted Trial Balance.  Easton Company Adjusted Trial Balance December 31, 2018 Account Title Debit Credit Cash $88,665    Accounts Receivable 232,000    Supplies 17,000    Equipment 395,000    Accumulated Depreciation   $224,260  Accounts Payable   72,555  Capital Stock   220,000  Retained Earnings   127,145  Service Revenue   877,105  Interest […]

 

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Selected financial information for the Adelphi Company for the fiscal years ended December 31, 2018

May 6, 2020 in /by

Selected financial information for the Adelphi Company for the fiscal years ended December 31, 2018 and 2017 follows. Prepare the cash flow statement using the indirect method. Properly title the statement. 2018 2017 Net income $142,500 $162,000 Depreciation Expense 42,000 35,000 Purchase of Plant Assets 135,000 125,000 Disposal of Plant Assets 40,000 50,000 Gain (Loss) on Disposal […]

 

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1.) On June 1, 2019 Adelphi Corporation issued $210,000 of 6%,

May 6, 2020 in /by

1.) On June 1, 2019 Adelphi Corporation issued $210,000 of 6%, 5-year bonds.  The bonds which were issued at 99, pay interest on January 1 and June 1. Use this information to calculate the amount of bond discount or premium that is amortized with each interest payment. If this is discount amortization enter as a positive number. If this is […]

 

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1.) On March 1, 2019, Baltimore Corporation had 60,000 shares of common

May 6, 2020 in /by

1.) On March 1, 2019, Baltimore Corporation had 60,000 shares of common stock outstanding with a par value of $5 per share. On March 1, Baltimore Corporation authorized a 10% stock dividend when the market value was $14 per share. Use this information to calculate the amount either (debited) or credited to retained earnings.  Enter as a […]

 

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