Bimbo

Cash (A) |
BB) $60,000 | A) $55,000 |
C) $50,000 | B) $1,500 |
| D) $2,500 |
| E) $1,000 |
| F) $100,000 |
| G) $42,500 |
$115,000 | $202,500 |
| $87,500|

Equipment (A) |
BB) $35,000 | H) $1,500 |
B) $15,000 | |
$48,500 | |

Buildings (A) |
BB) $155,000 | |
F) $100,000 | |
$255,000 | |

Short-TermNote Payable (L) |
H) $1,500 | BB) $70,000 |
| B) $13,500 |
| D) $2,500 |
| $84,500 |

Long-Term Note Payable (L) |
| BB) $30,000 |
| A) $55,000 |
|$83,000 |

Contributed Capital (OE) |
| BB) $110,000 |
| $110,000 |

Retained Earnings (OE) |
| BB) $40,000 |
| $40,000 |

Capital Stock (OE) |
| C)$50,000 |
| $50,000 |

Truck (A) |
D) $5,000 | |
$5,000 | |

Note Receivable (A) |
E) $1,000 | |
$1,000 | |

Long-Term Investment (A) |
G) $42,500 ||
$42,500 | |

1. Corporation
2. T accounts shown above
3. No, because it affects the stockholder, not the company
4. Assets: $439,500
Liabilities:$167,500
Equity: $160,000
Revenue: $40,000
Expense:
5. Ratio for 2014: Current Asset/Short-Term Liabilities: 88,500/84,500= 1.04733

AP2-1
| Balance SheetClassification | Debit or Credit Balance |
Prepaid Expenses | CA | Debit |
Inventories | CA | Debit |
Account Receivable | CA | Debit |
Long-Term Debt | NCL | Credit |
Cash andCash Equivalents | CA | Debit |
Goodwill (an intangible asset) | NCA | Debit |
Accounts Payable | CL | Credit |
Income Taxes Prepaid | CA | Debit |
Property, Plant andEquipment | NCA | Debit |
Retained Earnings | SE | Credit |
Contributed Capital | SE | Credit |
Short-Term Borrowings | CL | Credit |
Accrued Liabilities | CL | Credit |