Doa Horizontal Analysis of the Balance sheet above difference and Do it right next to the Balance Sheet Dos Vertical analysis of the income Statement above Do it right next to the income statement 2011 and 2010 ADDITIONAL INFORMATION All sales are credit sales 10 In the space below, create the Cash Flow Sulement for 2002 for Holy Company Holy Company Holly Company Bance sheet Income Statement 12/31 2002 2002 2001 Assets Cash 4,000 7.000 Sales Revenue Accounts Receivable 38.000 20.000 Cost of Goods Sold Inventory 76.000 01.000 Gross Profit Equipment 210.000 180.000 Expenses Accumulated Deprecanon (40.000) (30,000) Net Income Total 285.000 247.000 500,000 300 000 2001000 180.000 20.000 Labdies & Shareholders Equity Accounts Payable Common Stock Retained Earrings Total 48.000 00.000 150.000 285.000 30.000 70,000 130.000 247.000 Other Dividends and in 2002 - 3,000 No Equipment was sold in 2002 Holy Company Statement of Cash Flows 2002 You are the accountant for Security Software. The month just anded 1/31/2002 Create journal entries for the following 11. During the month soare sales were 60,000. al on account, and sales taxis 86% in addition to that amount Describe the above with a journal ently Account Debt Credit 12. On Feb 11th vend this sales tax from number 11 to the state. Make the Journal Account Debe Credit 13 Customers also were invoiced billed) 512.000 for 1 year maintenance contracts Desenbe the transaction, there is no sales tax on this) Account Dube Credit 14. The month's payroll paid on 101 needs to be recorded. Total payroll is 524.000 4.000 is withheld for federales. 1.000 for state tare, and 7.65% is withheld for FICA Account Debit Credit 15. On 10/31/2011 The company takes out a $120.000 bank loan and signs a 4 year note at 8% interest paid every 3 months Make Journals for the following a 10/31/2011 - record the loan 6 1201/2011 year and needs to have everything accurate including interest labites 1/31/2012. It has been 3 months Pay the interest Date Account Debt Credit Given the following Trial Balance for Your Ended 2010 Trial Balance Debt Credit 27,000.00 0,000.00 2000 00 400.00 3,500.00 275.00 7.500 00 Cash Accounts Receivable Prepaid insurance Inventory Computer Eauiment Accumulated Depreciation Long term Investments Accounts Payable Salary Payable Uneamed Revenue Long term Loan Payable Common stock Retained earnings (beginning) Dividends Sales Revenge Cost of Goods Sold Salary Expense Advertising Expense Insurance Expense Depreciation Expense Touais 18.500.00 2.000.00 700.00 540.00 17.800.00 11.250.00 3.200.00 9.000.00 2,000.00 1.600.00 760.00 340.00 275.00 60,705 00 30.7060
