Question
Eagle Sporting goods Company Balance Sheet March 31, 2021 Assets Current Assets: Cash--------------------------------------------60,000 Account Receivable -----------------------28,500 Inventories ------------------------------------38,000 Other Current Assets------------------------5,200 Total Current Assets-------------------------70,300 Property
Eagle Sporting goods Company
Balance Sheet
March 31, 2021
Assets
Current Assets:
Cash--------------------------------------------60,000
Account Receivable -----------------------28,500
Inventories ------------------------------------38,000
Other Current Assets------------------------5,200
Total Current Assets-------------------------70,300
Property Equipment, net-------------------60,000
Total Asset ------------------------------------100,400
Liabilities
Total Current Liabilities--------------------52,300
Long-term Liabilities----------------------10,500
Stockholder Equities
Common Stock-----------------------------24,000
Retain Earning----------------------------13,600
Total Stock Equity ----------------------37,600
Total Liability & Stockholder Equity 100,400
- Compute Eagle Current Ratio
- Prepare the Income Statement for the year ended
- Journalize the earning of service revenue: 57,000 on account and 37,000 in cash
Eagle Sporting goods Company
Balance Sheet
March 31, 2021
Assets
Current Assets:
Cash--------------------------------------------60,000
Account Receivable -----------------------28,500
Inventories ------------------------------------38,000
Other Current Assets------------------------5,200
Total Current Assets-------------------------70,300
Property Equipment, net-------------------60,000
Total Asset ------------------------------------100,400
Liabilities
Total Current Liabilities--------------------52,300
Long-term Liabilities----------------------10,500
Stockholder Equities
Common Stock-----------------------------24,000
Retain Earning----------------------------13,600
Total Stock Equity ----------------------37,600
Total Liability & Stockholder Equity 100,400
- Compute Eagle Current Ratio
- Prepare the Income Statement for the year ended
- Journalize the earning of service revenue: 57,000 on account and 37,000 in cash
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Ecology, Sustainable Development And Accounting
Authors: Seleshi Sisaye
1st Edition
0415816351, 9780415816359
