Question
The account balances for Big Screen Theatre Corporation are listed below. All balances are as of December 31, 2015, except where noted otherwise. Accounts Payable
The account balances for Big Screen Theatre Corporation are listed below. All balances are as of December 31, 2015, except where noted otherwise.
Accounts Payable | $14,500 | Furniture & Fixtures | $30,000 |
Accounts Receivable | 5,500 | Notes Payable (due 3/1/18) | 19,000 |
Accumulated Depreciation | 10,000 | Prepaid Expenses | 22,000 |
Advertising Expense | 11,200 | Projection Equipment | 30,000 |
Buildings | 68,000 | Rent Expense - Movies | 50,600 |
Common Stock | ?? | Retained Earnings (1/1/15) | 73,700 |
Cash | 15,000 | Salaries & Wage Expense | 46,900 |
Concessions Revenue | 56,200 | Ticket Sales Revenue | 94,500 |
Cost of Goods Sold | 22,800 | Unearned Revenue | 2,500 |
Dividends | 2,000 | Utility Expense | 6,000 |
Marketable Equity Securities | 5,000 | Trademark | 3,000 |
Wages Payable | 1,000 |
|
|
Determine Total Assets, Total Liabilities, and Net Income for the year ending December 31, 2015:
Step 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