Question
Fixed assets. Use the data from the following financial statements in the popup window, LOADING... . What are the net fixed assets for the years
Fixed assets.Use the data from the following financial statements in the popup window,
LOADING...
. What are the net fixed assets for the years 2013 and 2014?
The net fixed assets for the year 2013 is
$nothing.
(Round to the nearest dollar.)The net fixed assets for the year 2014 is
$nothing.
(Round to the nearest dollar.)
Partial Income Statement Year Ending 2014 |
|
Sales revenue | $349,900 |
Cost of goods sold | $142,000 |
Fixed costs | $42,900 |
Selling, general, and administrative expenses | $27,800 |
Depreciation | $46,200 |
Partial Balance Sheet 12/31/2013 |
|
|
|
ASSETS |
| LIABILITIES |
|
Cash | $16,000 | Notes payable | $13,800 |
Accounts receivable | $28,000 | Accounts payable | $18,800 |
Inventories | $48,000 | Long-term debt | $190,100 |
Fixed assets | $368,000 | OWNERS' EQUITY |
|
Accumulated depreciation (-) | $142,800 | Retained earnings | $44,500 |
Intangible assets | $81,800 | Common stock | $131,800 |
Partial Balance Sheet 12/31/2014 |
|
|
|
ASSETS |
| LIABILITIES |
|
Cash | $26,200 | Notes payable | $12,200 |
Accounts receivable | $19,100 | Accounts payable | $24,200 |
Inventories | $52,800 | Long-term debt | $162,100 |
Fixed assets | $448,000 | OWNERS' EQUITY |
|
Accumulated depreciation (-) |
| Retained earnings | $58,600 |
Intangible assets | $81,800 | Common stock | $181,800 |
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