Chapter 3 Recommended end_of_chapter problems

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Ch 3: Recommended End-of-Chapter Problems哈士奇好养吗

E 3-1		Balance sheet; missing elements		LO3 LO4 LO8

The following December 31, 2011, fiscal year-end account balance information is available for the Stonebridge Corporation:

The only ast not listed is short-term investments. The only liabilities not listed are a $30,000 note payable due in two years and related accrued interest of $1,000 due in four months. The current ratio at year-end is 1.5:1.

Required:

Determine the following at December 31, 2011:

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1.		Total current asts
2.		Short-term investments
3.		Retained earnings

E 3-5		Balance sheet preparation		LO2 through LO4

The following is a December 31, 2011, post-closing trial balance for the Valley Pump Corporation.

p. 147

Additional information:

1.		The $120,000 balance in the land account consists of $100,000 for the cost of land where the plant and office buildings are located. The remaining $20,000 reprents the cost of land being held for speculation.
2.		The $44,000 in the marketable curities account reprents an investment in the common stock of another corporation. Valley intends to ll one-half of the stock within the next year.
3.		The notes payable account consists of a $100,000 note due in six months and a $150,000 note due in three annual installments of $50,000 each, with the first payment due in August of 2012.

Required:

Prepare a classified balance sheet for the Valley Pump Corporation at December 31, 2011.

E 3-6		Balance sheet; current versus noncurrent classification		LO2 through LO4

Prented below is a partial trial balance for the Kansas Instruments Corporation at December 31, 2011.

Additional information:

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1.		The note receivable, along with any accrued interest, is due on November 22, 2012.
2.		The note payable is due in 2015. Interest is payable annually.
3.最多笔画的汉字		The marketable curities consist of treasury bills, all of which mature in the next year.
4.		Unearned revenue will be earned equally over the next two years.

Required:

Determine the company's working capital (current asts minus current liabilities) at December 31, 2011.

E 3-8		Balance sheet; current versus noncurrent classification		僧志南 LO2 through LO4

Cone Corporation is in the process of preparing its December 31, 2011, balance sheet. There are some questions as to the proper classification of the following items:

a.		$50,000 in cash t aside in a savings account to pay bonds payable. The bonds mature in 2015.
b.		Prepaid rent of $24,000, covering the period January 1, 2012, through December 31, 2013.
c.		Note payable of $200,000. The note is payable in annual installments of $20,000 each, with the first installment payable on March 1, 2012.
d.	彭国兴	Accrued interest payable of $12,000 related to the note payable.
e.		Investment in marketable curities of other corporations, $80,000. Cone intends to ll one-half of the curities in 2012.

Required:

Prepare a partial classified balance sheet to show how each of the above items should be reported.

馄饨面

E 3-9		Balance sheet preparation; cash versus accrual accounting; Chapters 2 and 3		LO2 through LO4

The following is the balance sheet of Korver Supply Company at December 31, 2010.

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