Algary, Inc. uses the following financial statements Assume that Algary, Inc. uses the following financial statements for the year ended December 31, 2010. BS-Balance Sheet IS-Income Statement RE-Retained Earnings Categories on these statements follow: A. Current Assets B. Investments C. Fixed Assets D. Intangible Assets E. Current Liabilities F. Long-Term Liabilities G. Stockholders’ Equity H. Sales and Other Operating Revenue I. Cost of Goods Sold J. Operating Expenses K. Other Income L. Other Expense M. Additions to Retained Earnings N. Deductions from Retained Earnings Required: Indicate by the statement abbreviation and category number how each of the following is best classified or where it is included in the computation. If an item is not reported anywhere, use the letter “X” to indicate this. Only the best answer should be selected. For balance sheet accounts only, if the account balance is normally opposite that of a typical account (contra), set off the answer in parentheses. Samples. IS H Sales (BS C) Accumulated Depreciation a. Capital Lease Obligations (due 2016 and beyond) b. Federal Income Taxes Withheld c. Accounts Payable d. Equipment e. Unearned Management Fee Revenue f. Unamortized Bond Discount (due 2010) g. Interest Expense h. Dividends Declared for the Period i. Work In Process Inventory j. Purchase Returns and Allowances k. Unexpired Office Insurance Expense l. Rent Income (leasing company) m. Treasury Stock n. Office Salaries Expense o. Loss on Sale of Equipment p. Bank Overdrafts q. Unused Sales Supplies r. Bad Debt Expense s. Petty Cash t. Oil Wells (drilling company) u. Trade Name v. Stock Dividends Declared w. Gain from Winning Lawsuit (suit was filed in 2006) Economics Assignment Help, Economics Homework help, Economics Study Help, Economics Course Help
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