Heartwarming Pharoah Company Balance Sheet Preparing An Income Statement

Prepare a classified balance sheet. A Prepare a statement of cash flows for the year 2020Show amounts that decrease cash flow with either a - sign eg. Pharoah Company 2017 Sunland Company 2017 Net sales 2628000 905200 Cost of goods sold 1715500 496400 Operating expenses 413180 143080 Interest expense 56348 13140 124 100 Income tax expense 52 560 197736 Current assets 455000 776720 Plant assets inet 204003 96835 49225 Current liabilities 158410 59399 201480 52560 Long-term liabilities Net cash provided by operating. During its first year of operations Pharoah Company had credit sales of 2751000 of which 366200 remained uncollected at year-end. Pharoah Company issued 480000 15-year 6 bonds at 99. -15000 or in parenthesis eg. Accumulated Depreciation-Equipment Total Assets Liabilities and Owners Equit Current Liabilities Accounts Payable Salaries and Wages Payable Total Current Liabilities Owners Equity Owners. Pharoah Company Balance Sheet December 31 2021. Cash and cash equivalents. PHAROAH COMPANY BALANCE SHEET PARTIAL DECEMBER 31 2017 Cash 40900 Accounts Payable 62500 Accounts Receivable 93700 Notes Payable 64780 Less.

Allowance for doubtful accounts 870 Retained earnings. Accumulated Depreciation-Equipment Total Assets Liabilities and Owners Equit Current Liabilities Accounts Payable Salaries and Wages Payable Total Current Liabilities Owners Equity Owners. The adjusted trial balance for Pharoah Bowling Alley at December 31 2020 contains the following accounts. List Current Assets in order of liquidity. PHAROAH CORPORATION BALANCE SHEETS Net income of 46200 was reported and dividends of 34530 were paid in 2020. Pharoah Company Balance Sheet December 31 2021 Cash 14320 Accounts payable Accounts receivable 20200 Common stock Allowance for doubtful accounts 870 Retained earnings Inventory 9560 43210 9090 18100 16020 43210 During January 2022 the following transactions occurred. Prepare the journal entry to record the estimated uncollectibles. In alphabetical order below are balance sheet items for Pharoah Company at December 31 2022. Cash and cash equivalents. Allowance For Doubtful Accounts 7180 86520 127280 Inventory 156960 Prepaid Expenses.

Assume that 28300 of the note payable will be paid in 2021. The following items are taken from the financial statements of Pharoah Company at December 31 2022. This problem has been solved. Pharoah Companys balance sheet at December 31 2021 is presented below. PHAROAH COMPANY Balance Sheet Partial December 31 2020 Total Liabilities Bonds Payable 560000 Add Premium on Bonds Payable 16800 576800 Pharoah Company issued 560000 10-year 6 bonds at 103. Salaries and wages payable. PHAROAH CORPORATION BALANCE SHEETS Net income of 46200 was reported and dividends of 34530 were paid in 2020. Prepare the journal entry to record the estimated uncollectibles. Cash and cash equivalents. List assets in order of liquidity PHAROAH COMPANY Balance Sheet Assets Liabilities and Stockholders Equity.

Pharoah Companys balance sheet at December 31 2021 is presented below. Prepare a classified balance sheet. The credit manager estimates that 19200 of these receivables will become uncollectible. During its first year of operations Pharoah Company had credit sales of 2751000 of which 366200 remained uncollected at year-end. Prepare the journal entry to record the estimated uncollectibles. On October 31 the stockholders equity section of Pharoah Companys balance sheet consists of common stock 576000 and retained earnings 406000. Cash and cash equivalents. PHAROAH COMPANY Balance Sheet Partial December 31 2020 Total Liabilities Bonds Payable 560000 Add Premium on Bonds Payable 16800 576800 Pharoah Company issued 560000 10-year 6 bonds at 103. The adjusted trial balance for Pharoah Bowling Alley at December 31 2020 contains the following accounts. Pharoah Company Balance Sheet December 31 2021.

During its first year of operations Pharoah Company had credit sales of 2751000 of which 366200 remained uncollected at year-end. On June 1 2022 Pharoah Company was started with an initial investment in the company of 21450 cash. Pharoah Distributing Company Balance Sheet December 31 2020 Assets Current Assets Cash Accounts Receivable Inventory Supplies Total Current Asstes Property Plant and Equipment Equipment Less. New equipment was purchased and none was sold. Here are the assets liabilities and common stock of the company at June 30 2022 and the revenues and expenses for the month of June its first month of operations. Pharoah Company Balance Sheet December 31 2021 Cash 14320 Accounts payable Accounts receivable 20200 Common stock Allowance for doubtful accounts 870 Retained earnings Inventory 9560 43210 9090 18100 16020 43210 During January 2022 the following transactions occurred. Pharoah Company Balance Sheet December 31 2021. Salaries and wages payable. Assume that 9900 of the mortgage payable will be paid in 2023. On October 31 the stockholders equity section of Pharoah Companys balance sheet consists of common stock 576000 and retained earnings 406000.