Use the Information Provided from Haloid Company's Accounting Records to Answer

question 35

Essay

Use the information provided from Haloid Company's accounting records to answer questions
For the Years Ended December 31, 2018, and 2017
$\begin{array}{lrr}\text { Assets }&2018&2017\\\text { Cash } & \$ 80 & \$ 60 \\\text { Accounts receivable } & 40 & 40 \\\text { Short-term investment in property } & 40 & 60 \\\text { Property, plant, and equipment } & \underline{350} & \underline{310} \\\quad \text { Total assets } & \underline{\underline{510}} & \underline{\$ 470}\\\text { Liabilities and Shareholders' Equity }\\\text { Accounts payable } & \$ 85 & \$ 90 \\\text { Contributed capital } & 310 & 300 \\\text { Retained earnings } & 115 & 80 \\\text { Total liabilities \& shareholders' equity } & \$ 510& \$ 470\\\text { Income Statement: }\\\text { Sales revenue } & \$ 850 \\\text { Expenses } & \$ 800 \\\text { Net Income } & \$ \underline{50}\end{array}$
-How is it possible that Haloid reports "property" in two different places on its balance sheet?

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Definitions:

Master Schedule

An outline that details the what, when, and how much for the production of products to meet demand.

What to Be Made

A decision-making process concerning the products or goods a company decides to produce or manufacture.

Commonality of Databases

The practice of using uniform database structures across different applications or systems within an organization, to enhance data consistency and accessibility.