Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

And also need to create a balance sheet for 2017 Balance sheet. Use the data from the following financial statements in the popup window, B.

image text in transcribedAnd also need to create a balance sheet for 2017

Balance sheet. Use the data from the following financial statements in the popup window, B. Complete the balance sheet. Hint: Find the accumulated depreciation for 2017 first. The accumulated depreciation for 2017 is $ 186,400. (Round to the nearest dollar.) 0 Data Table (Click on the following icon Complete the balance sheet for 2016: (Round to the nearest dollar.) Balance Sheet 12/31/2016 ASSETS LIABILITIES Current assets Current liabilities Cash $15,900 Notes payable Accounts receivable $27,800 Accounts payable Inventories $48,000 Total current liabilities Total current assets 91,700 Long-term debt Fixed assets $367,800 OWNERS' EQUITY Accumulated depreciation (-) $140,400 Retained earnings Intangible assets $81,800 Common stock TOTAL LIABILITIES AND TOTAL ASSETS $ 400,900 OWNERS' EQUITY $14,200 $19,100 33,300 $189,800 in order to copy its contents into a spreadsheet.) Partial Income Statement Year Ending 2017 Sales revenue $350,200 Cost of goods sold $142,000 Fixed costs $43,100 Selling, general, and administrative expenses $28,200 Depreciation $46,000 $ (Click on the following icon $131,800 in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2016 ASSETS LIABILITIES Cash $14,200 $19,100 $189,800 Accounts receivable Inventories Fixed assets Accumulated depreciation (-) Intangible assets $15,900 Notes payable $27,800 Accounts payable $48,000 Long-term debt $367,800 OWNERS' EQUITY $140,400 Retained earnings $81,800 Common stock Enter any number in the edit fields and then click Check Answer. $131,800 1 part remaining

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Research On Professional Responsibility And Ethics In Accounting Volume 24

Authors: Charles Richard Baker

1st Edition

180071758X, 9781800717589

More Books

Students also viewed these Accounting questions

Question

l describe demand and supply factors leading to nursing shortages

Answered: 1 week ago

Question

A service window closes just as they get to the front of the line.

Answered: 1 week ago