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  • Latihan Neraca AK ETAP - 36119032

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    The balance sheet classifies Quinn Company's assets, liabilities, and stockholders' equity as of December 31, 2004. Current assets include cash of $79,100, trading securities of $24,000 less allowance for doubtful accounts of $55,000, inventories of $50,200, and equipment held for sale of $62,000. Total current assets are $217,300. Total assets are $396,000. Total current liabilities are $77,500 and total liabilities are $187,500. Total stockholders' equity is $208,500.

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    Latihan Neraca AK ETAP_36119032

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    The balance sheet classifies Quinn Company's assets, liabilities, and stockholders' equity as of December 31, 2004. Current assets include cash of $79,100, trading securities of $24,000 less allowance for doubtful accounts of $55,000, inventories of $50,200, and equipment held for sale of $62,000. Total current assets are $217,300. Total assets are $396,000. Total current liabilities are $77,500 and total liabilities are $187,500. Total stockholders' equity is $208,500.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    6 views2 pages

    Latihan Neraca AK ETAP - 36119032

    Uploaded by

    Den Official
    The balance sheet classifies Quinn Company's assets, liabilities, and stockholders' equity as of December 31, 2004. Current assets include cash of $79,100, trading securities of $24,000 less allowance for doubtful accounts of $55,000, inventories of $50,200, and equipment held for sale of $62,000. Total current assets are $217,300. Total assets are $396,000. Total current liabilities are $77,500 and total liabilities are $187,500. Total stockholders' equity is $208,500.

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    of 2

    Ex. 5-54—Balance sheet classifications.

    No Jawaban No Jawaban No Jawaban


    1 f 11 h 21 b
    2 f 12 k 22 l
    3 c 13 g 23 f
    4 a 14 a 24 b
    5 a 15 c 25 f
    6 f 16 c 26 h
    7 i 17 j 27 a
    8 k 18 d 28 d
    9 a 19 f 29 d
    10 g 20 b 30 j

    Description :
    *(a) ($90.000 - $12.000 + $1.500)
    *(b) ($60.000 - $5.000)
    *(c) ($57.000 + $5.000)
    *(d) ($8.000 - $6.000)
    *(e) ($86.000 + $40.000 - $10.000 + $6.000)
    *(f) ($75.000 + $1.000)
    Pr. 5-60—Balance sheet presentation.

    Quinn Company
    Balance Sheet
    As Of December 31, 2004

    Assets

    Current assets
    Cash $ 79.100 *(a)
    Trading securities $ 24.000
    Less: Allowance for doubtful accounts $ 55.000 *(b)
    Inventories $ -4.800
    $ 50.200
    Equipment held for sale $ 62.000 *(c)
    Total current assets $ 2.000 *(d)
    $ 217.300
    Investment
    Available-for-sale securities $ 43.300
    Cash surrender value $ 12.400
    $ 55.700

    Property, Plant, and equipment


    Equipment $ 122.000 *(e)
    Less accumulated depreciation $ -40.000
    $ 82.000
    Intangible assets
    Patents $ 32.000
    Franchises $ 9.000
    $ 41.000
    Total assets $ 396.000

    Liabilities and Stockholders Equity

    Current liabilities
    Account Payable $ 76.000 *(f)
    Bank everdraft $ 1.500
    Total current liabilities $ 77.500

    Long Term liabilities $ 110.000


    Total liabilities $ 187.500

    Stockholders equity $ 208.500


    Total liabilities and stockholders equity $ 396.000

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