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Below information pertains to Eller Equipment Company for the year 2018. ( Hint : Some of the items will not appear on either statement, and
Below information pertains to Eller Equipment Company for the year 2018. (Hint: Some of the items will not appear on either statement, and ending retained earnings must be calculated.)
Salaries expense | $ | 109,000 | Beginning retained earnings | $ | 48,100 | |||
Common stock | 97,000 | Warranties payable (short term) | 5,200 | |||||
Notes receivable (short term) | 19,500 | Gain on sale of equipment | 13,000 | |||||
Allowance for doubtful accounts | 21,000 | Operating expenses | 52,000 | |||||
Accumulated depreciation | 53,000 | Cash flow from investing activities | 103,000 | |||||
Notes payable (long term) | 89,350 | Prepaid rent | 25,000 | |||||
Salvage value of building | 17,000 | Land | 82,000 | |||||
Interest payable (short term) | 8,000 | Cash | 35,300 | |||||
Uncollectible accounts expense | 32,000 | Inventory | 130,000 | |||||
Supplies | 5,200 | Accounts payable | 42,000 | |||||
Equipment | 160,650 | Interest Expense | 23,000 | |||||
Interest revenue | 4,900 | Salaries payable | 55,000 | |||||
Sales revenue | 914,000 | Unearned revenue | 34,000 | |||||
Dividends | 22,000 | Cost of goods sold | 582,000 | |||||
Warranty expense | 7,900 | Accounts receivable | 95,000 | |||||
Interest receivable (short term) | 2,300 | Depreciation expense | 1,700 | |||||
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