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I am having trouble completing this problem. Thank You! IKIBAN INC. Comparative Balance Sheets June 30, 2017 and 2016 2017 2016 Assets Cash Accounts receivable,
I am having trouble completing this problem. Thank You!
IKIBAN INC. Comparative Balance Sheets June 30, 2017 and 2016 2017 2016 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Equipment Accum. depreciation-Equipment Total assets $96,700 62,000 69,000 113,500 9.000 253,500 133,000 92,000 81,800 6,200 276,700 142,000 (36,000) 18,000) $382,700 368,500 Liabilities and Equity Accounts payable Wages payable Income taxes payable Total current liabilities Notes payable (long term) Total liabilities Equity Common stock, $5 par valu Retained earnings 43,000 57,000 18,600 7,400 83,000 48,000 78,000 161,000 7,800 5,200 56,000 104,000 256,000 178,000 29,500 22,700 Total liabilities and equity $382,700 368,500Step by Step Solution
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