Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please help ive been stuck forever Review the select information for Bean Superstore and Legumes Plus (industry competitors), and then complete the following BEAN SUPERSTORE

please help ive been stuck forever
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Review the select information for Bean Superstore and Legumes Plus (industry competitors), and then complete the following BEAN SUPERSTORE Comparative Balance Sheet December 31, 2017, 2018, and 2019 2019 2018 2017 Assets Cash $330,460 $300,000 $346,600 65,000 Accounts Receivable 60,000 60,000 Inventory 178,011 155,205 Equipment 145,830 100,465 $657,895 101,202 103,085 Total Assets $669,673 $618,290 $90,200 $88,563 $84,209 71,000 69,331 Liabilities Salaries Payable Accounts Payable Notes Payable Equity Common Stock 71,670 50,650 41,000 58,250 19,100 22,695 433,000 Retained Earnings Total Liabilities and Equity 21.990 436,800 $669,673 387,400 $618,290 $657,895 LEGUMES PLUS Comparative Balance Sheet December 31, 2017, 2018, and 2019 2019 2018 2017 Assets Cash $388,450 $357,367 $407,000 85,430 82,670 79,230 Accounts Receivable Inventory Equipment 128,080 182,006 $802,516 40,036 23,400 $534,556 52,142 111,701 $600,440 Total Assets $95,200 $89,467 Liabilities Salaries Payable Accounts Payable Notes Payable Equity $91,455 86,331 hi 62,430 87,197 63,222 67,880 68,312 Common Stock 22,590 25,464 556,200 23,188 332,276 266,300 Retained Earnings Total Liabilities and Equity $802,516 $534,556 $600,440 BEAN SUPERSTORE Comparative Income Statement Year Ended December 31, 2017, 2018, and 2019 2019 2018 2017 Net Credit Sales $1,000,000 $984,400 $875,350 388,950 450,000 419,600 $550,000 COGS Gross Margin Expenses Net Income (Loss) $564,800 125,000 $439,800 $486,400 100,000 115,000 $435,000 $386,400

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

Intermediate Accounting Reporting And Analysis, 2017 Update

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

2nd Edition

1337505625, 9781337505628

More Books

Students also viewed these Accounting questions

Question

Is this public actively seeking information on this issue?

Answered: 1 week ago

Question

How much loyalty does this public have for your organization?

Answered: 1 week ago

Question

How influential does the organization see this public as being?

Answered: 1 week ago