Question
The assumed balances at dec2018 are cash 602900,account receivable 10000,merchandise inventory3000,prepaid rent 3150,equipment 55000,accumulated depreciation 13750,land 400000,longterm note payable 200000,commonshares440000$,retained earnings60300. in2019 following events happen
The assumed balances at dec2018 are cash 602900,account receivable 10000,merchandise inventory3000,prepaid rent 3150,equipment 55000,accumulated depreciation 13750,land 400000,longterm note payable 200000,commonshares440000$,retained earnings60300. in2019 following events happen
issued 50000 of 5% preferred shares for cash sold equipment at its written down value method for cash acquired new equipment for 150000for cash.the new equipment has estimated life of 15 years without residual value purchased inventory for 80000 for cash paid renting advance 3200 for cash made cash sales for 150000 and the related cost of goods sold was 65000 purchased additional land for cash 20000 all account receivables were collected various operating expenses were paid 40000except 5000 which will be paid in next month paid the annual dividend on preferred shares and 5 percent on common shares recorded depreciation for the new equipment recorded rent expenses paid cash 3800 for income tax prepare a tabular analysis,income statement balance sheet and the rest part I in the photo.
ing the financial statements you lowing: i) Return on assets ratio i) Return on equity ratio i) Gross profit percentage -) Return on sales ratio -) Net income to sales ratio ) Earnings per share ) Dividend payout ratio ) Receivables turnover ratio Inventory turnover ratio Asset turnover ratio Current ratio Quick ratio Debt to equity ratio Debt to assets ratio
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