Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

It's a project 2 for acc-308 Intermediate accounting. Could u explain how we get those numbers and where? thanks Assets Current Assets: cash Accounts Recelvable

image text in transcribed

It's a project 2 for acc-308 Intermediate accounting. Could u explain how we get those numbers and where? thanks

Assets Current Assets: cash Accounts Recelvable Baking Supplies Merchandise Inventory Prepaid Rent Prepaid Insurance Misc. Supplies Total Current Assets Long Term/Fixed Assets: Baking Equipment Accumulated Depreciation Net Fixed assets I Assets: Peyton Approved Second Location Pro Forma Balance Sheet As of December 31, 2018 7 00000 12,40536 1,691.64 1,691.64 136.39 24925.03 15,00000 -2,14286 12,857.14 35,782.18 Liabilities and Owners' Equity Current Liabilities: Accounts Payable Wages Payable Interest Payable 2,706 62 16917 Total Current Liabilities Long Term Liabilities: Notes Payable 20,000.00 Total Long Term Liabilities: Total Liabilities: Common Stock Retained Earning: $ 74,036.30 Total Equity Total Liabilities & Equity 23,497.90 20,00000 43497.90 74,036.30 117,534.20

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_2

Step: 3

blur-text-image_3

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

Intermediate Accounting

Authors: James D. Stice, Earl K. Stice, Fred Skousen

17th Edition

032459237X, 978-0324592375

More Books

Students also viewed these Accounting questions

Question

Understand a department managers role in locating job candidates

Answered: 1 week ago