Assume that Denis Savard Inc. has the following accounts at the end of the curre

Question

Assume that Denis Savard Inc. has the following accounts at the end of the current year.

1. Common Stock 14. Accumulated Depreciation-Buildings. 2. Discount on Bonds Payable. 15. Cash Restricted for Plant Expansion. 3. Treasury Stock (at cost). 16. Land Held for Future Plant Site. 4. Notes Payable (short-term). 17. Allowance for Doubtful Accounts. 5. Raw Materials 18. Retained Earnings. 6. Preferred Stock (Equity) Investments (long-term). 19. Paid-in Capital in Excess of Par-Common Stock. 7. Unearned Rent Revenue. 20. Unearned Subscriptions Revenue. 8. Work in Process. 21. Receivables-Officers (due in one year). 9. Copyrights. 22. Inventory (finished goods). 10. Buildings. 23. Accounts Receivable. 11. Notes Receivable (short-term). 24. Bonds Payable (due in 4 years). 12. Cash. 25. Noncontrolling Interest. 13. Salaries and Wages Payable. Liabilities and Stockholders' Equity Current Liabilities Salaries and Wages Payable $XXX Unearned Subscriptions Revenue Unearned Rent Revenue Unearned Service Revenue Total Current Liabilities $XXX Long-term Debt Bonds Payable $XXX Less ? Discount on Bonds Payable Total Long-term Liabilities Total Long-term Liabilities Long-term Investments

Explanation / Answer

Liabilities and Stock holders equity Current Liabilities: Salaries and wages payable $XXX Note payable $XXX Unearned Subscription Revenue $XXX Unearned Rent Revenue $XXX Total Current Liabilities $XXX Long Term Debt Bonds payable,due in four years $XXX Less Discount on bonds payable (XXX) $XXX Total Liabilities $XXX Stock Holder's Equity Capital Stock Common Stock $XXX Additional Paid In capital: Paid-in Capital in Excess of Par-Common Stock $XXX Total Paid in Capital $XXX Retained Earnings $XXX Total Paid in Capital In retained Earnings $XXX Less: Treasury Stock (at cost) (XXX) $XXX Non controlling Interest $XXX Total Stock holders equity $XXX Total liabilities and stockholders equity $XXX

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.