100 Cells 519 XV for Please put your balance sheet here: A B C D E F Please put your Income statement here: Prepare a basic Income statement and balance sheet in good form. A+ Incorporated Trial Balance FYE 12312019 Cash 50,000 Accounts Receivable 60,000 Inventory 100,000 Prepaid Insurance 10,000 Land 100,000 Building 250,000 1 Equipment 120,000 2 Accumulated Depreciation 100,000 3 Accounts Payable 80,000 Payroll Taxes Payable 20,000 5 Sales Tax Payable 10,000 3 Notes Payable-due in 6 years 120,000 Common Stock 100,000 Retained Earnings 130,000 Sales 650,000 o Sales Discounts 20,000 1 Cost of Goods Sold 200,000 2 Salaries & Wages 100,000 3 Payroll Tax Expense 110,000 4 Advertising 70.000 5 Interest Expense 20,000 6 1.210,000 1210,000 Please put your balance sheet here: 7 29 Bonus questions Paste 3 I Inl E19 4 x fx Please put your balance sheet here: A B , D 29 Bonus questions 30 1. Give 1 example of a fixed asset, an intangible asset and a 31 natural resource that was not listed on the exam. 32 33 34 35 36 2. What is the major difference between the straight line 37 method of depreciation and units of production 38 39 40 42 3. Name the 5 states that do not charge sales tax or at least 43 first letters of each state. 44 45 46 47 4. What is interest? 48 49 50 51 5. What is the difference between the par value of a share of 52 stock and the market price? 53 54 55 56 6. What was the last name of the brothers who started the 57 Life is Good company? 58 50 DeprecDepletion Payroll and Current Liablilites NotesBonds Ready 20 Arial 12 Hili HTH Paste I U - E19 + X fx Please put your balance sheet here: B D BO 61 7. What is the name of the stick figure that is on their 62 apparel? 63 64 65 66 8. Where did they first sell their T-shirts? 67 68 69 70 9. What is the significance of the first 4 numbers in the trial balance total? 71 72 73 74 10. What did you like best and least about this class? 75 76 77 78 79 80 81 82 83 B4 85 86 87 BB BO 90 DeprecDepletion Payroll and Current Liablilites Notes Bonds Ready 20