Answered step by step
Verified Expert Solution
Question
1 Approved Answer
pls solve this full answer income ststement with balance sheet in word not hand written SMOLIRA GOLF CORPORATION Income Statement AS ON DEC 31, 2015
pls solve this full answer income ststement with balance sheet in word not hand written
SMOLIRA GOLF CORPORATION Income Statement AS ON DEC 31, 2015 28000 11600 2140 SALES LESS: COST OF GOODS SOLD GROSS PROFIT LESS: OPERATING EXPENSE DEPRECIATION EXPENSE EARNING BEFORE INTEREST AND TAXES LESS: INTEREST PAID TAXABLE INCOME TAXES 35% NET INCOME 14260 980 13280 4648 8632 DIVIDEND RS. 4000 ADDITION TO RETAINED 10 MARKS 0.3 ASSETS CURRENT ASSETS: CASH A/C RECEVABLE INVENTORY SMOURA GOLF CORPORATION BALANCE SHEET AS ON DEC 31, 2015 LIABILITIES & OWNER'S EQUITY CURRENT LIABILITIES: RS. 710 A/C PAYABLE RS.1215 2106 NOTES PAYABLE 718 4982 OTHER 230 TOTAL CURRENT 7798 LIABILITIES 2163 TOTAL 4190 LONG TERM DEBT FIXED ASSETS: NET PLANT AND EQUIPMENT 18584 OWNER'S EQUITY: COMMON STOCK AND PAID IN SURPLUS RETAINED EARNINGS TOTAL 10000 10029 20029 26382 26382 TOTAL TOTALStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started