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Balance sheet. Use the data from the following financial statements in the popup window, Complete the balance sheet. Hint: Find the accumulated depreciation for 2017
Balance sheet. Use the data from the following financial statements in the popup window,
Complete the balance sheet. Hint: Find the accumulated depreciation for
2017
first.
Partial Income Statement Year Ending 2017 | |
Sales revenue | $349,800 |
Cost of goods sold | $141,800 |
Fixed costs | $42,900 |
Selling, general, and administrative expenses | $27,800 |
Depreciation | $45,900 |
(Click on the following icon
in order to copy its contents into a spreadsheet.)
Partial Balance Sheet 12/31/2016 | |||
ASSETS | LIABILITIES | ||
Cash | $16,000 | Notes payable | $13,800 |
Accounts receivable | $27,800 | Accounts payable | $19,000 |
Inventories | $48,200 | Long-term debt | $189,800 |
Fixed assets | $367,900 | OWNERS' EQUITY | |
Accumulated depreciation (-) | $140,300 | Retained earnings | |
Intangible assets | $82,000 | Common stock | $131,800 |
(Click on the following icon
in order to copy its contents into a spreadsheet.)
Partial Balance Sheet 12/31/2017 | |||
ASSETS | LIABILITIES | ||
Cash | $25,800 | Notes payable | $11,800 |
Accounts receivable | $19,200 | Accounts payable | $23,900 |
Inventories | $52,900 | Long-term debt | $162,200 |
Fixed assets | $447,800 | OWNERS' EQUITY | |
Accumulated depreciation (-) | Retained earnings | ||
Intangible assets | $82,200 | Common stock | $182,000 |
please do all the equations for the blanks.
The accumulated depreciation for 2017 is $ (Round to the nearest dollar.) Complete the balance sheet for 2017: (Round to the nearest dollar.) \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{6}{|c|}{ Balance Sheet 12/31/2017 } \\ \hline ASSETS & & & LIABILITIES & & \\ \hline Current assets & & & Current liabilities & & \\ \hline Cash & & $25,800 & Notes payable & & $11,800 \\ \hline Accounts receivable & & $19,200 & Accounts payable & & $23,900 \\ \hline Inventories & & $52,900 & Total current liabilities & $ & 35,700 \\ \hline Total current assets & $ & 97,900 & Long-term debt & & $162,200 \\ \hline Fixed assets & & $447,800 & OWNERS' EQUITY & & \\ \hline Accumulated depreciation (-) & $ & 186,200 & Retained earnings & $ & 61,800 \\ \hline Intangible assets & & $82,200 & Common stock & & $182,000 \\ \hline & & & TOTAL LIABILITIES AND & & \\ \hline TOTAL ASSETS & $ & 441,700 & OWNERS' EQUITY & $ & 441,700 \\ \hline \end{tabular}Step by Step Solution
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