Question
A. Reconstruct a income statement and balance sheet of this corp. from the entrees below: Account Payble $180,000 Accounts Receivable $350,000 Accured Expenses $35,000 Accumulated
A. Reconstruct a income statement and balance sheet of this corp. from the entrees below:
Account Payble $180,000
Accounts Receivable $350,000
Accured Expenses $35,000
Accumulated Depreciation $400,000
Cash $50,000
Common Equity $480,000
Cost of Goods Sold $1,200,000
Current Assets $625,000
Current Liabilities $365,000
Earnings before Taxes $480,000
Gross Profit $800,000
Income Taxes $120,000
Interest Expense $70,000
Inventories $225,000
Long-Term Debt $580,000
Net Income $360,000
Net Operation Income $ 550,000
Net Plant and Equipment $800,000
Operating Expenses $250,000
Plant and Equipment $1,200,000
Revenues $2,000,000
Short Term Notes Payable $150,000
Total Asses $1,425,000
Total Liablities and Owner's Equity $1,425,000
B. How profitable was the corp?
C. How does the corp. finance it's assets?
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Culture Audit In Financial Services Reporting On Behaviour To Conduct Regulators
Authors: Dr Roger Miles
1st Edition
1789667755, 978-1789667752
