THE NEXT TWO (2) QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: DOODLEBUGGY COMPANY LTD. BALANCE SHEET As
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Question:
THE NEXT TWO (2) QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
DOODLEBUGGY COMPANY LTD. | ||
BALANCE SHEET | ||
As at December 31, 20XX | ||
ASSETS | ||
Current Assets: | ||
Cash | ? | |
Accounts Receivable | $72,000 | |
Merchandise Inventory | $57,000 | |
Total Current Assets | $173,000 | |
Non-Current Assets: | ||
Land | $422,000 | |
Machinery | ? | |
Accumulated Depreciation | ($95,000) | |
Total Non-Current Assets | ? | |
TOTAL ASSETS | $992,000 | |
LIABILITIES AND | ||
SHAREHOLDERS' EQUITY | ||
Current Liabilities: | ||
Accounts Payable - Merchandise | $82,000 | |
Accounts Payable - Office Supplies | $14,000 | |
Salaries Payable | $47,000 | |
Total Current Liabilities | $143,000 | |
Non-Current Liabilities: | ||
Bonds Payable | $400,000 | |
Total Liabilities | $543,000 | |
Shareholders' Equity: | ||
Share Capital ($15 par value) | ? | |
Retained Earnings | $149,000 | |
Total Shareholders' Equity | ? | |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | ? |
Question 16
Based on the balance sheet provided, what is the value of Doodlebuggy Company's cash, machinery, and total non-current assets?
Cash = $44,000, machinery = $422,000, total non-current assets = $992,000 |
Cash = $44,000, machinery = $492,000, total non-current assets = $819,000 |
Cash = $173,000, machinery = $492,000, total non-current assets = $422,000 |
Cash = $992,000, machinery = $95,000, total non-current assets = $173,000 |
Question 17
Based on the balance sheet provided, what is the value of Doodlebuggy Company's share capital, total shareholders' equity, and total liabilities and shareholders' equity?
Share capital = $300,000, total shareholders' equity = $449,000, total liabilities and shareholders' equity = $543,000 |
Share capital = $235,000, total shareholders' equity = $308,000, total liabilities and shareholders' equity = $543,000 |
Share capital = $300,000, total shareholders' equity = $449,000, total liabilities and shareholders' equity = $992,000 |
Share capital = $260,000, total shareholders' equity = $570,000, total liabilities and shareholders' equity = $992,000 |
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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