Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Accumulated Cash Lovely Scenes Company had the following accounts and balances at the end of the year. Calculate Earnings after interest and taxes at
Accumulated Cash Lovely Scenes Company had the following accounts and balances at the end of the year. Calculate Earnings after interest and taxes at the end of the year? (Do not use punctuation marks, like commas, periods etc nor $ sign) $ 78,000 Amortization/Depreciation $ 20,000 Accounts Payable 13,000 Interest Expense 4,000 Common Stock 61,000 Accrued Expenses 10,000 Dividends 12,000 Prepaid Expenses 14,600 Unearned Revenue 5,600 Retained earnings 91,000 Salaries Expense 12,000 Amortization/Depreciation Expense 6,000 Accounts Receivable 54,000 Salaries Payable 17,000 Inventory 46,000 Tax Rate 30% Cost of Goods Sold 102,000 Preferred Stock 30,000 Bank Loan (Long Term) 20,000 Revenues/Sales 255,000 Rent expense 8,000 Plant and equipment (Original cost) 89,000 Notes Payable (Short Term) 5000 Long-term Notes Payable 10,000
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