Question
Please complete 1. Rafter Company had the following accounts and balances at December 31, 2018: Equipment Cash A A 205,000 Unearned Revenue 12,000 38,000 Salary
Please complete
1. Rafter Company had the following accounts and balances at December 31, 2018: Equipment Cash A A 205,000 Unearned Revenue 12,000 38,000 Salary Expense 65,000 Inventory M 24,000 Treasury Stock (1,000 shares) 14,000 Common Stock (5,000 shares) GL 50,000 Sales Revenues 190,000 Note Payable - 1 year 8,000 Income Tax Expense 17,000 Accounts Receivable A 3,000 Interest Revenue 2,000 Prepaid Rent Expense A 6,000 Retained Earnings 1/1/18 90,000 Cost of Goods Sold + 50,000 APIC OE 70,000 Calculate the following amounts for the company at December 31, 2018. Place your answers in the space provided and list each account to support your answer in the space directly below your answer. Answers without supporting accounts will not be graded (abbreviations are fine).
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Intermediate Accounting 2014 FASB Update
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
15th edition
978-1118938782, 111893878X, 978-1118985311, 1118985311, 978-1118562185, 1118562186, 978-1118147290
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