Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Data Table 1. depi ed all (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Income Statement Year Ending

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Data Table 1. depi ed all (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Income Statement Year Ending 2017 Sales revenue $350,200 Cost of goods sold R$ 142,000 Fixed costs $43,000 Selling, general, and administrative expenses $27,800 Depreciation $45,800 (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2016 ASSETS LIABILITIES Cash $16,100 Notes payable Accounts receivable $28,000 Accounts payable Inventories $48,000 Long-term debt Fixed assets $368,200 OWNERS' EQUITY Accumulated depreciation (-) $143,000 Retained earnings Intangible assets $81,900 Common stock $13,900 $19,100 $190,100 $131,800 Drint None (Click on the following icon in order to copy its contents into a spreadsheet.) Partial Balance Sheet 12/31/2017 ASSETS LIABILITIES Cash Accounts receivable $12,200 $23,900 $162, 100 Inventories $26,200 Notes payable $19,100 Accounts payable $53,000 Long-term debt $448,200 OWNERS' EQUITY Retained earnings $82,000 Common stock Fixed assets Accumulated depreciation (-) Intangible assets $182,000 nun mana The accumulated depreciation for 2017 is $ (Round to the nearest dollar.) Complete the balance sheet for 2016: (Round to the nearest dollar.) Balance Sheet 12/31/2016 ASSETS LIABILITIES Current assets Cash Accounts receivable Inventories $13,900 $19,100 Total current assets S Current liabilities $16,100 Notes payable $28,000 Accounts payable $48,000 Total current liabilities Long-term debt $368,200 OWNERS' EQUITY $143,000 Retained earnings $81,900 Common stock TOTAL LIABILITIES AND $190, 100 Fixed assets $ Accumulated depreciation (-) Intangible assets $131,800 TOTAL ASSETS $ OWNERS' EQUITY Complete the balance sheet for 2017 (Round to the nearest dollar.) Balance Sheet 12/31/2017 ASSETS LIABILITIES Current assets Cash $12,200 $23,900 Accounts receivable Inventories Total current assets $162, 100 Current liabilities $26,200 Notes payable $19,100 Accounts payable $53,000 Total current liabilities Long-term debt $448,200 OWNERS' EQUITY Retained earnings $82,000 Common stock TOTAL LIABILITIES AND OWNERS' EQUITY Fixed assets $ Accumulated depreciation (-) Intangible assets $182,000 TOTAL ASSETS Enter any number in the edit fields and then continue to the next

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

How To Audit ISO 9001 2015 A Handbook For Auditors

Authors: Chad Kymal

1st Edition

087389927X, 978-0873899277

More Books

Students also viewed these Accounting questions