help in homework

New User?

Fill This Form To Receive Instant Help

Help in Homework
trustpilot ratings
google ratings


Homework answers / question archive / Presented below are selected accounts of Aramco Company at December 31, 2010

Presented below are selected accounts of Aramco Company at December 31, 2010

Accounting

Presented below are selected accounts of Aramco Company at December 31, 2010.

FinishedGoods

52,000

Cost of GoodsSold

2,100,000

Revenue Received in Advance

90,000

Notes Receivable

40,000

Equipment

253,000

AccountsReceivable

161,000

Work-in-Process

34,000

RawMaterials

187,000

Cash

42,000

Supplies Expense

60,000

 

Trading Securities

 

29,000

Allowance for

DoubtfulAccounts

 

12,000

Customer Advances

36,000

Licenses

18,000

Cash Restricted for Plant

Expansion

 

50,000

 

Share Premium - Ordinary

 

88,000

 

Treasury Stock

22,000

The notes receivables are due April 30, 2012, with interest receivable every April 30. The notes bear 6% interest (Hint: Accrue interest due on December 31, 2010.)

Instructions:

Prepare the current assets section of Aramis Company’s December 31, 2010, statement of financial position, with appropriate disclosures.

Option 1

Low Cost Option
Download this past answer in few clicks

4.87 USD

PURCHASE SOLUTION

Already member?

Option 2

Custom new solution created by our subject matter experts

GET A QUOTE

rated 5 stars

Purchased 7 times

Completion Status 100%
View Answer

Sitejabber (5.0)

BBC (5.0)

Trustpilot (4.9)

Google (5.0)