Dorothy Corporation had the following accounts in its year-end adjusted trial balance: Accounts payable, $7,200; Salaries payable, $5,800; Income taxes payable, $4,000; Short-term notes payable, $2,500; Dividends payable, $750; and Investment in held-to-maturity bonds, $2,750. Prepare the current liabilities section of Dorothy Corporation’s balance sheet.
Answer to relevant QuestionsBased on the information in RE4-2 and RE4-3, calculate Dorothy Corporation’s working capital.In RE4-2, Dorothy Corporation had the following accounts in its year-end adjusted trial balance: Inventories, $23,600; Accounts ...Scarecrow, Inc., issues 50,000 shares of $2 par value common stock. The shares are sold for $25 per share. Prepare the journal entry to record the issuance of the stock.On January 1, 2010, the Osborne Company reported the following alphabetical list of stockholders’ equity items:Additional paid-in capital on common stock ......... $170,000Additional paid-in capital on preferred stock ...Shaquera Corporation began the current year with inventory of $50,000. During the year, its purchases totaled $110,000. Shaquera paid freight charges of $8,500 for these purchases. At the end of the year, Shaquera had ...Included in the December 31, 2010 adjusted trial balance of the Gold Company are the following accounts:Cost of goods sold ............. $101,000Sales .................... 200,000General and administrative expenses ...
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