Presented below are selected accounts of Yasunari Kawabata Company at December 3

Question

Presented below are selected accounts of Yasunari Kawabata Company at December 31, 2014.

The following additional information is available.

Prepare the current assets section of Yasunari Kawabata Company’s December 31, 2014, balance sheet, with appropriate disclosures.

Inventory (finished goods) $ 56,410 Cost of Goods Sold $2,123,000 Unearned Service Revenue 92,220 Notes Receivable 55,400 Equipment 258,400 Accounts Receivable 167,520 Inventory (work in process) 40,200 Inventory (raw materials) 208,560 Cash 46,690 Supplies Expense 76,226 Equity Investments (short-term) 36,000 Allowance for Doubtful Accounts 12,980 Customer Advances 44,700 Licenses 18,480 Restricted Cash for Plant Expansion 59,350 Additional Paid-in Capital 90,760 Treasury Stock 27,070

Explanation / Answer

Liabilities Amount Assets Amount Amount Common Stock and Retained Earning       603,986 Licenses            18,480 Additional paid in capital          90,760 Less: Accumulated amortization            14,090              4,390 Treasury stock          27,070 Equipment          258,400 Unearned service revenue          92,220 Less: Accumulated depreciation            60,270          198,130 Customer advance          44,700 Notes receivable            55,400 Accrued interest on Notes receivable              2,216 Restricted cash for plant expansion            59,350 Equity Investment Short Term            32,850 Inventory            56,410 Inventory WIP            40,200 Inventory raw materials          208,560 Accounts receivable          167,520 Less: Allowance for doubtful debt            12,980          154,540 Cash            46,690       858,736          858,736

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---

---

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