Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

can you put this into a schedule L on a 1120 (2017) form Assets :`12 / 31 / 201412 / 31 / 2015Cash$62, 50044, 000Accounts

can you put this into a schedule L on a 1120 (2017) form

image text in transcribed Assets :`12 / 31 / 201412 / 31 / 2015Cash$62, 50044, 000Accounts Receivable*145 , 00017 7, 000Less : Allowance for Bad Debts( 32 , 000 )( 41, 000 )Inventory59, 00096, 000Publicly traded securities100 , 000Tax- exempt bond100 , 000U. S. Treasury Bonds125 , 000125 , 000Fixed Assets2 , 1 15 , 0002 , 95 5 , 000Less : Acc . Depreciation( 436 , 500 )(715 , 000 )Prepaid Insurance15 , 750Prepaid Rent38 , 50039, 500Prepaid Advertising27.500Total Assets :`$2 , 276 , 500$2 , 723, 750Liabilities and Shareholders' Equity :"Accounts Payable102 , 000131 , 000Accrued Bonuses45, 000Accrued Vacation62, 50073, 000Accrued Wages44. 50051, 500Event Deposits100 , 000Deferred Tax Liability45 , 91014, 000Note Payable - First Bank of NY ( Credit Line )424, 000657, 000Note Payable-EG Capital Equipment Leasing1 , 243 , 0001 , 415 , 000Capital Stock1 , 0001 , 000Additional paid- in Capital99 ,00099, 000Retained Earnings - Unappropriated209. 590182 .250Total Liabilities and Shareholders' Equity :"$2 , 276, 500$ 2 , 723 , 750

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

Managerial Accounting for Managers

Authors: Eric Noreen, Peter Brewer, Ray Garrison

4th edition

1259578542, 978-1259578540

More Books

Students also viewed these Accounting questions

Question

What are the advantages and disadvantages of prototyping?

Answered: 1 week ago