Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please Make An Income Statement And Balance Sheet For This Information: Thanks! 318,825 819,000 438,750 63,180 61,952 40,950 12,870 1,053,000 1. Accounts payable 2. Accounts

Please Make An Income Statement And Balance Sheet For This Information: Thanks!image text in transcribedimage text in transcribedimage text in transcribed

318,825 819,000 438,750 63,180 61,952 40,950 12,870 1,053,000 1. Accounts payable 2. Accounts receivable 3.Accumulated depreciation 4.Advertising expense 5.Allowance for doubtful accounts 6.Bad debt expense 7 Capital gains 8Capital stock (common) 9Cash 10Charitable contributions 11 Compensation expense 12 Cost of goods sold 13Depreciation expense 14Dividends (paid) 15Dividends (received) 16Entertainment expense 17Equipment 396,864 31,590 1,649,700 905,580 29,250 93,600 14,040 2,223 877,500 293,436 1,931 72,540 17,550 1,989,000 18Federal income tax expense 19 Gain from disposition of fixed assets 20lnterest expense 21Interest income 22Inventory 23Investments in state & local bonds 24Investments in stock 25Investment in U.S. government bonds 26Land 27 Maintenance expense 28Meals expense 29 Miscellaneous expense 30 Mortgage payable 163,800 321,750 81,900 3,217,500 29,250 3,920 47,970 1,799,811 323,154 146,250 207,090 76,050 49,140 310ther assets 320ther current liabilities 330ther liabilities 340ther taxes expense 35Pension plans expense 36 Professional services expense 37Property tax expense 38 Retained earnings (1/1/2019) 39Sales 40Sales returns & allowance 41State income tax expense 42Supplies expense 37,440 52,650 3,708,900 4,012,223 44,460 70,200 9,594 $11,793,191 $11,793,191

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

Finance And Accounting For Business

Authors: Bob Ryan

1st Edition

9781861529930

More Books

Students also viewed these Accounting questions

Question

Find all solutions in CC of the given equation. Z 3 = -27i

Answered: 1 week ago

Question

Explain the characteristics of an effective appraisal system.

Answered: 1 week ago

Question

Describe the various performance appraisal methods.

Answered: 1 week ago

Question

Define performance appraisal.

Answered: 1 week ago