Prepare the current asset section of the balance sheet. Use the following information:Tidrick Manufacturing Company has just
Question:
Prepare the current asset section of the balance sheet.
Use the following information:Tidrick Manufacturing Company has just completed its first year of operation on December 31, 2019. It has the following accounts in the general ledger. The bookkeeper is unsure which accounts to show on the balance sheet and which accounts to report on the income statement. All amounts are in thousands of dollars
Transcribed Image Text:
$ 6,316 $ 580 $ 362 Paid-in Capital in Excess of Par-Common Stock $ 3,234 Allowance for Uncollectible Accounts $ Accounts Payable Accumulated Depreciation, Building Accumulated Depreciation, Machinery Bonds Payable Building Cash Common Stock Copyright Cost of Goods Sold Deferred Income Taxes Payable Discount on Bonds Payable Dividends Payable Finished Goods Inventory Income Tax Expense Income Taxes Payable Insurance Expense Interest Expense Land Land Held for Speculation Machinery Notes Payable due in 90 Days Notes Payable due in 10 years Preferred Stock Prepaid Insurance Prepaid Rent Purchase Discounts Raw Materials Inventory Rent Expense Retained Earnings Sales Sales Discounts Sales Returns and Allowances Selling and Administrative Expenses Supplies Trading Securities Wages Payable Work-in-Process Inventory 45 $ 1,580 $ 3,340 $ 4.317 $ 30 391 $33,892 $ in in $ SSSSS $ $ $ 30 75 130 30 $ 1,079 $ 1,300 $ 400 $ 308 $ 2,510 $ 2,500 $ 1,879 $ 1,570 $ 2,600 $ 20 $ 500 $ 941 $ 180 $ 87 $ 600 $ 3,996 $43,068 $ 1,414 $ 210 $ 2,700 $ 78 $ 835 $ 580 $ 210
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (5 reviews)
Tidrick Manufacturing Company as of December 31 2019 Current Assets ...View the full answer
Answered By
Aketch Cindy Sunday
I am a certified tutor with over two years of experience tutoring . I have a passion for helping students learn and grow, and I firmly believe that every student has the potential to be successful. I have a wide range of experience working with students of all ages and abilities, and I am confident that I can help students succeed in school.
I have experience working with students who have a wide range of abilities. I have also worked with gifted and talented students, and I am familiar with a variety of enrichment and acceleration strategies.
I am a patient and supportive tutor who is dedicated to helping my students reach their full potential. Thank you for your time and consideration.
0.00
0 Reviews
10+ Question Solved
Related Book For
Introduction To AccountingAn Integrated Approach
ISBN: 9781119600107
8th Edition
Authors: Penne Ainsworth, Dan Deines
Question Posted:
Students also viewed these Business questions
-
Prepare the statement of shareholders equity. Use the following information: Tidrick Manufacturing Company has just completed its first year of operation on December 31, 2019. It has the following...
-
Prepare the long- term asset section of the balance sheet. Use the following information: Tidrick Manufacturing Company has just completed its first year of operation. It has the following accounts...
-
Prepare the balance sheet. Use the following information: Tidrick Manufacturing Company has just completed its first year of operation on December 31, 2019. It has the following accounts in the...
-
Show that the angular wave number k for a non-relativistic free particle of mass m can be written as in which K is the particle's kineticenergy 27 V2mK k =
-
A corporate bond's price is listed at 102.801. It matures in 3 years, has a coupon rate of 5%, and pays interest semiannually. What is the bond's yield to maturity?
-
Describe a relationship that you have seen go through the coming apart stages. Identify which stage that relationship was in. How did the emotional intelligence of the people involved affect the...
-
When preparing departmental contribution statements of financial performance, all direct expenses are controllable by department managers. Discuss, giving examples.
-
Several years ago Medex Company purchased a small building adjacent to its manufacturing plant in order to have room for expansion when needed. Since the company had no immediate need for the extra...
-
The balance sheet for Fourth Corp. is shown here in market value terms. There are 5,000 shares of stock outstanding. Market Value Balance Sheet Cash $ 45,100 Equity 495,100 $ Fixed 450,000 assets...
-
a. What type of information asymmetry is present in this case and how could BHIC decrease its effects? b. Assuming a semi-strong form efficient market, why do you believe the share price fell on the...
-
For each of the following accounts, determine its classification on the balance sheet using the following classifications. Use OOE for other owners equity items that are not contributed capital or...
-
Engstrom Company began fiscal 2019 with a $40,000 deficit balance in retained earnings. During 2019 its net income was $167,890 and it has declared but not paid dividends of $50,000. What is the...
-
Use a model employing a differential equation to predict the period of a simple frictionless pendulum for small initial angles of displacement. (Let sin = .) Under these conditions, what should be...
-
What were Theranos' machines supposed to accomplish? Holmes approached a number of pharmaceutical companies to demonstrate her first machine -what was the outcome of these various test? Did Holmes...
-
The following is a portion of the condensed income statement for Rowan, Incorporated, a manufacturer of plastic containers: Net sales Less: Cost of goods sold: Inventory, January 1 Net purchases...
-
How do resource dependency theory and institutional theory inform our understanding of how organizations design their structures to manage external dependencies and institutional pressures ?
-
Q2: A) For the system x = x + 2xx H (x) - x = 2x + x = xH(x) use the Poincare-Bendixson's criterion to examine the existence of a limit cycle for the following assigned functions to H(x) 1) H(x) =...
-
+ Watch the video and then provide answers on the righthand side of the column for easy grading. Does Kentucky have a Safe Haven Yes, there are 16 Kentucky locations. Baby Box? What individual(s) can...
-
Choose two variables that appear to have a relationship that is worth investigating. One variable should have at least two categories of individualsfor example, two or more age categories, racial...
-
Ann hires a nanny to watch her two children while she works at a local hospital. She pays the 19 year-old nanny $125 per week for 48 weeks during the current year. a. What is the employers portion of...
-
In 2016, Paul, who is single, has a comfortable salary from his job as well as income from his investment portfolio. However, he is habitually late in filing his federal income tax return. He did not...
-
Which of the following individuals is most likely to be audited? a. Connie has a $20,000 net loss from her unincorporated business (a cattle ranch). She also received a $200,000 salary as an...
-
In April 2017, Dan is audited by the IRS for the year 2015. During the course of the audit, the agent discovers that Dans deductions for business travel and entertainment are unsubstantiated and a...
-
Exactly two years ago, the U.S. Treasury issued 10-year Treasury notes at par value with a coupon rate of 2.50%. The Face Value of one of these notes was $10,000. Today, you want to purchase that...
-
You want to begin saving for your daughter to go to graduate school at Oklahoma starting 10 years from now. You expect that you will need to make tuition payments of $3.000 per month for the two...
-
5. XYZ Limited was incorporated on January 4, 1985. The entity's reporting date is December 31st of each year. On the date of incorporation, the entity issued 100,000,000 ordinary shares with a par...
Study smarter with the SolutionInn App