Sol.12 - EXERCISES Ex 121 Cash Accounts Receivable...

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EXERCISES Ex. 12–1 Cash ..................................................................................... 10,000 Accounts Receivable .......................................................... 118,000 Merchandise Inventory ....................................................... 74,300 Equipment ............................................................................ 67,000 Allowance for Doubtful Accounts ................................ 8,100 Lamar Kline, Capital ...................................................... 261,200 Ex. 12–2 Cash ................................................................................. 30,000 Accounts Receivable ...................................................... 65,000 Land .................................................................................. 165,000 Equipment ........................................................................ 10,000 Allowance for Doubtful Accounts ............................ 5,000 Accounts Payable ...................................................... 18,000 Notes Payable ............................................................ 45,000 Ron Maples, Capital ................................................... 202,000 334
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Ex. 12–3 Haley Manos a. ........................................................................................ $ 75,000 $75,000 b. ........................................................................................ 112,500 37,500 c. ........................................................................................ 68,400 81,600 d. ........................................................................................ 67,500 82,500 e. ........................................................................................ 73,500 76,500 Details Haley Manos Total a. Net income (1:1) .......................................... $ 75,000 $ 75,000 $150,000 b. Net income (3:1) .......................................... $112,500 $ 37,500 $150,000 c. Interest allowance ....................................... $ 18,000 $ 6,000 $ 24,000 Remaining income (2:3) ............................. 50,400 75,600 126,000 Net income .................................................. $ 68,400 $ 81,600 $150,000 d. Salary allowance ......................................... $ 45,000 $ 60,000 $105,000 Remaining income (1:1) ............................. 22,500 22,500 45,000 Net income .................................................. $ 67,500 $ 82,500 $150,000 e. Interest allowance ....................................... $ 18,000 $ 6,000 $ 24,000 Salary allowance ......................................... 45,000 60,000 105,000 Remaining income (1:1) ............................. 10,500 10,500 21,000 Net income .................................................. $ 73,500 $ 76,500 $150,000 335
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Ex. 12–12 a. (1) Kris Perry, Capital (20% × $100,000) .....................
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