question archive prepare (arrange in proper order) an income statement Selling and administrative expense $40,000 Depreciation expense 70,000 Sales 390,000 Interest expense 30,000 Cost of goods sold 90,000 Taxes 25,000 Arrange the following items in proper balance sheet (Remember that total assets must equal total liabilities and stockholders’ equity): Accumulated depreciation
prepare (arrange in proper order) an income statement Selling and administrative expense $40,000 Depreciation expense 70,000 Sales 390,000 Interest expense 30,000 Cost of goods sold 90,000 Taxes 25,000 Arrange the following items in proper balance sheet (Remember that total assets must equal total liabilities and stockholders’ equity): Accumulated depreciation
Subject:AccountingPrice: Bought3
prepare (arrange in proper order) an income statement
Selling and administrative expense $40,000
Depreciation expense 70,000
Sales 390,000
Interest expense 30,000
Cost of goods sold 90,000
Taxes 25,000
Arrange the following items in proper balance sheet (Remember that total assets must equal total liabilities and stockholders’ equity):
Accumulated depreciation............................. $180,000
Retained earnings.................................... 145,000
Cash................................................. 50,000
Bonds payable........................................ 142,000
Accounts receivable.................................. 38,000
Plant and equipment—original cost.................... 720,000
Accounts payable..................................... 35,000
Allowance for bad debts.............................. 6,000
Common stock, $1 par, 150,000 shares outstanding..... 150,000
Inventory............................................ 66,000
Preferred stock, $50 par, 1,000 shares outstanding... 50,000
Marketable securities................................ 15,000
Investments.......................................... 20,000
Notes payable........................................ 83,000
Capital paid in excess of par (common stock)......... 118,000
