Answered step by step
Verified Expert Solution
Question
1 Approved Answer
(3) GIVEN THE FOLLOWING INFORMATION (YEAR END 2020) ABOUT PLUTO INCOPORTATION. MAKE ITS INCOME STATEMENT (2020) STATEMENT OF RETAINED EARNINGS (2020) STATEMENT OF OWNERS EQUITY
(3) GIVEN THE FOLLOWING INFORMATION (YEAR END 2020) ABOUT PLUTO INCOPORTATION. MAKE ITS INCOME STATEMENT (2020) STATEMENT OF RETAINED EARNINGS (2020) STATEMENT OF OWNERS EQUITY (2020) BALANCE SHEET (2020) CALCULATE AND INTERPRET GROSS PROFIT MARGIN (2020) CALCULATE AND INTERPRET (DERECIATION AMORTIZATION) /DEPRCIABLE ASSETS (2020) 5 MARKS EACH STATEMENT, 2.5 MARKS FOR RATIOS . SALES 1620 1620 INSTALLMENT NOTES CONTINGENCIES AND PENSIONS 5670 2025 405 OPERATING LEASE 1215 81,000 BEGRE 56,700 DIVIDENDS EXPENSE 16,200 DRAWINGS 24,300 BEG OE 4,050 COMMON STOCK 2,025 TREASURY STOCK 8,100 PURCHASES BEG INVENTORY ENDING INVENTORY SUPPLIES EXP ADVERTISINGE EXP DEPRECIATION EXP (BUILDING AND EQUIPMENT) RENT EXPENSE AMORTIZATION EXP INTEREST EXP 8,100 1215 810 1215 16,200 972 PREFERED STOCK PAID UP CAPITAL IN 810 EXCESS 567 CURRENT ASSETS 648 NWC BUILDING AND 1,215 EQUIPMENT,NET 567 COPY RIGHTS, NET LONG TERM INVESTEMENTS 12150 32,400 11340 DIVIDEND INCOME INTEREST INCOME TAX EXP LOSS DUE TO SALE OF FA LONG TERM DEBT 12% 12960 810 30,087
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started