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Ethan Allen Interiors Inc. is a leading manufacturer and retailer of home furnishings in the United States and abroad. The following is adapted from Ethan
Ethan Allen Interiors Inc. is a leading manufacturer and retailer of home furnishings in the United States and abroad. The following is adapted from Ethan Allen's September 30, 2013, trial balance. (The amounts shown represent millions of dollars.) and Interpreting the Daa $150 Accounts Payable $121 Notes Payable long-term) ccounts Receivable Cash Common Stock 13 Notes Payable (short-term) 106 Prepaid Rent 21 Retained Earnings 290 Salaries and Wages Payable 142 Short-term Investments 23 321 23 13 50 Equipment nventory -Software Assume that the following events occurred in the following quarter a. Paid $30 cash for additional inventory b. Issued additional shares of common stock for $20 in cash. c. Purchased equipment for $170: paid S80 in cash and signed a note to pay the remaining $90 in two years d. Signed a short-term note to borrow $10 cash. e. Conducted negotiations to purchase a sawmill, which is expected to cost $36
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