chpt 3 supp sol

chpt 3 supp sol - Chapter 3 Supplemental Solutions Exercise...

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Chapter 3 Supplemental Solutions Exercise 3-2 1. c Equipment 10. a Inventories 2. f Accounts payable 11. d _ Patent 3. -a _ Allowance for uncollectible accounts 12. c Land, in use 4. b _ Land, held for investment 13. f _ Accrued liabilities 5. g _ Note payable, due in 5 years 14. a Prepaid rent 6. f Unearned rent revenue 15. h _ Common stock 7. f Note payable, due in 6 months 16. c Building, in use 8. i Income less dividends, accumulated 17. a Cash 9. b Investment in XYZ Corp., long-term 18. f _Taxes payable
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Exercise 3-4
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Exercise 3-16 1. a JACKSON CORPORATION Balance Sheet At December 31, 2006 Assets Current assets: Cash . ................................................................... $ 40,000 Marketable securities . ........................................ 10,000 Accounts receivable . .......................................... 34,000 Inventories . ......................................................... 75,000 Prepaid rent . ....................................................... 16,000 Total current assets . ...................................... 175,000 Property, plant, and equipment: Machinery . ......................................................... $145,000 Less: Accumulated depreciation . ....................... (11,000 ) Net property, plant, and equipment . .............. 134,000
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This note was uploaded on 07/08/2009 for the course ACCT 351 taught by Professor Staff during the Spring '08 term at George Mason.

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chpt 3 supp sol - Chapter 3 Supplemental Solutions Exercise...

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