Question
The following information for the year ended December 31, 2016, was reported by Nice Bite, Inc. Accounts Payable$53,000Accounts Receivable30,800Cash (balance on January 1, 2016)108,900Cash (balance
The following information for the year ended December 31, 2016, was reported by Nice Bite, Inc.
Accounts Payable$53,000Accounts Receivable30,800Cash (balance on January 1, 2016)108,900Cash (balance on December 31, 2016)93,000Common Stock149,000Dividends0Equipment144,700Income Tax Expense10,900Interest Expense30,300Inventory18,000Notes Payable30,900Prepaid Rent7,800Office Expense15,100Retained Earnings (beginning)10,300Salaries and Wages Expense36,500Service Revenue153,800Utilities Expense25,900Salaries and Wages Payable16,000
Other cash flow information:Cash from issuing common stock$29,000Cash paid to reacquire common stock32,900Cash paid for income taxes11,800Cash paid to purchase long-term assets60,400Cash paid to suppliers and employees92,800Cash received from customers153,000
- Make a balance sheet for 2016.
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