***As you can see, I did some of the work which shows what is for sure complete
ID: 2396609 • Letter: #
Question
***As you can see, I did some of the work which shows what is for sure complete and correct, but this problem is not completely finished***
990 Less: Accumulated depreciation Office equipment Less: Accumulated depreciation Total Plant and Equipment 310 Total Assets S 52,080 Liabilities and Owner's Equity Current Liabilities Notes payable Accounts payable Interest payable Sales tax payable 5,310 3,535 15 1,700 Total Current Liabilities S 10,560 Owner's Equity Bridget Swanson, Capital Total Liabilities and Owner's Equity S 10,560Explanation / Answer
Answers
ASSETS
Current Assets:
Cash
$ 12,405.00
Change Fund
$ 310.00
Accounts receivables
$ 4,950.00
Less: Allowance for doubtful accounts
$ (670.00)
$ 4,280.00
Merchandise Inventory
$ 50,825.00
Prepaid Expenses
Store Supplies
$ 910.00
Prepaid Interest
$ 35.00
$ 945.00
Total Current Assets
$ 68,765.00
Plant & Equipment:
Store Equipment
$ 9,300.00
Less: Accumulated Depreciation - Store Equipment
$ (990.00)
$ 8,310.00
Office Equipment
$ 3,020.00
Less: Accumulated Depreciation - Office Equipment
$ (310.00)
$ 2,710.00
Total Plant & Equipment
$ 11,020.00
Total ASSETS
$ 79,785.00
LIABILITIES & OWNER'S EQUITY
Current Liabilities:
Notes Payable
$ 5,310.00
Accounts payable
$ 3,535.00
Interest Payable
$ 15.00
Sales Tax Payable
$ 1,700.00
Total current liabilities
$ 10,560.00
Owner's Equity:
Bridget Swanson Capital
$ 69,225.00
Total LIABILITIES & OWNER'S EQUITY
$ 79,785.00
ASSETS
Current Assets:
Cash
$ 12,405.00
Change Fund
$ 310.00
Accounts receivables
$ 4,950.00
Less: Allowance for doubtful accounts
$ (670.00)
$ 4,280.00
Merchandise Inventory
$ 50,825.00
Prepaid Expenses
Store Supplies
$ 910.00
Prepaid Interest
$ 35.00
$ 945.00
Total Current Assets
$ 68,765.00
Plant & Equipment:
Store Equipment
$ 9,300.00
Less: Accumulated Depreciation - Store Equipment
$ (990.00)
$ 8,310.00
Office Equipment
$ 3,020.00
Less: Accumulated Depreciation - Office Equipment
$ (310.00)
$ 2,710.00
Total Plant & Equipment
$ 11,020.00
Total ASSETS
$ 79,785.00
LIABILITIES & OWNER'S EQUITY
Current Liabilities:
Notes Payable
$ 5,310.00
Accounts payable
$ 3,535.00
Interest Payable
$ 15.00
Sales Tax Payable
$ 1,700.00
Total current liabilities
$ 10,560.00
Owner's Equity:
Bridget Swanson Capital
$ 69,225.00
Total LIABILITIES & OWNER'S EQUITY
$ 79,785.00
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.