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please answer all of the question with detailes i have the answers ,but i need the way the were solved SS, Inc. Balance Sheet December
please answer all of the question with detailes
i have the answers ,but i need the way the were solved
SS, Inc. Balance Sheet December 31, 2013 Assets Current Assets Cash Accounts Receivable Less: Allowance for Doubtful Accounts Net Accounts Receivable Inventory Prepaid Insurance Total Current Assets Fixed Assets Equipment Less: Accumulated Depreciation Subtotal Land Net Fixed Assets Other Assets Patents Total Assets $ 99,600 $ 90,000 (14,000) 76,000 80,000 3,600 259,200 Liabilities Current Liabilities Accounts Payable Wages Payable Taxes Payable Advertising Payable Interest Payable Current Maturities of Long-Term Debt Total Current Liabilities $ 40,000 109,000 Long-Term Debt Note Payable Total Liabilities 340,000 (80,000) 260,000 140,000 400,000 10,000 669,200 Owners' Equity Common Stock Retained Earnings Total Owners' Equity Total Liabilities and Owners' Equity 35,000 8,000 10,000 10,000 6,000 80,000 189,000 $ 300,000 180,200 480,200 $ 669,200 SS Inc. Income Statement For the Year Ended December 31, 2013 Sales Cost of Goods Sold Gross Margin Operating Expenses Wage Expense Depreciation Expense Rent Expense Office Expense Bad Debt Expense Insurance Expense Total Operating Expenses Operating Income Other Revenues &Step by Step Solution
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