Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Given the information below, please construct an income statement and balance sheet for All N 1 electric Accounts payable1,364,592.00 Accounts receivable5,154,705.68 Accrued liabilities522,801.80 Accumulated Depreciation

Given the information below, please construct an income statement and balance sheet for All N 1 electric Accounts payable1,364,592.00 Accounts receivable5,154,705.68 Accrued liabilities522,801.80 Accumulated Depreciation (including current charges)-220,487.20 Advertising228,335.24 Cash584,021.87 Common stock1,000.00 Contributions & donations56,916.00 Depreciation (current period)62,424.00 Dues, licenses and subscriptions69,326.63 Executive salaries1,271,158.27 Furniture & fixtures18,200.94 Group insurance118,030.56 Interest43,767.30 Job costs: equipment rentals627,881.89 Job costs: indirect2,934,729.23 Job costs: labor6,825,049.46 Job costs: licenses and permits46,458.14 Job costs: materials9,456,313.59 Job costs: other direct costs3,304.80 Liability insurance845,000.64 Machinery & equipment149,386.14 Miscellaneous G&A688,084.49 Notes payable: long term1,125,370.32 Notes payable: short term400,397.00 Office equipment & software295,623.05 Office supplies7,596.63 Prepaid expenses & deposits157,598.20 Professional fees: accounting82,620.00 Professional fees: IT47,102.95 Rent169,323.26 Retained earnings (including current period)4,491,508.45 Revenue25,980,777.64 Selling: meals & entertainment288,472.32 Selling: payroll595,164.91 Utilities7,726.62 Vehicle insurance135,188.35 Vehicles887,741.50 Work in progress878,879.67

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting And Business Ethics An Introduction

Authors: Ken McPhail, Diane Walters

1st Edition

0674018788, 9780415362368

More Books

Students also viewed these Accounting questions