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.)
Data Table
| Partial Income Statement Year Ending 2014 | |
| Sales revenue | $349,800 |
| Cost of goods sold | $141,800 |
| Fixed costs | $43,000 |
| Selling, general, and administrative expenses | $28,000 |
| Depreciation | $46,000 |
| Partial Balance Sheet 12/31/2013 | |||
| ASSETS |
| LIABILITIES |
|
| Cash | $16,000 | Notes payable | $14,000 |
| Accounts receivable | $27,800 | Accounts payable | $18,800 |
| Inventories | $48,000 | Long-term debt | $190,100 |
| Fixed assets | $367,800 | OWNERS' EQUITY |
|
| Accumulated depreciation (-) | $143,500 | Retained earnings | $43,500 |
| Intangible assets | $82,100 | Common stock | $131,800 |
| Partial Balance Sheet 12/31/2014 | |||
| ASSETS |
| LIABILITIES |
|
| Cash | $26,000 | Notes payable | $11,800 |
| Accounts receivable | $18,900 | Accounts payable | $24,100 |
| Inventories | $53,000 | Long-term debt | $162,200 |
| Fixed assets | $448,000 | OWNERS' EQUITY |
|
| Accumulated depreciation (-) |
| Retained earnings | $58,500 |
| Intangible assets | $82,200 | Common stock | $182,000 |
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Risk Management And Financial Institutions
Authors: John C Hull
6th Edition
1119932483, 9781119932482
