In: Accounting
2017 | 2018 | ||
Sales | $ 2,050 | $ 2,200 | |
Depreciation | 295 | 295 | |
Cost of goods sold | 705 | 801 | |
Other expenses | 170 | 140 | |
Interest | 137 | 158 | |
Cash | 1,075 | 1,099 | |
Accounts receivable | 1,423 | 1,603 | |
Short-term notes payable | 208 | 195 | |
Long-term debt | 3,600 | 4,200 | |
Net fixed assets | 9,015 | 9,230 | |
Accounts payable | 1,129 | 1,095 | |
Inventory | 2,530 | 2,600 | |
Dividends | 250 | ? | |
Common Shares | 1,000 | ||
Tax rate | 40% | 40% | |
2017 | 2018 | ||
Sales | $ 2,050 | $ 2,200 | |
Depreciation | 295 | 295 | |
Cost of goods sold | 705 | 801 | |
Other expenses | 170 | 140 | |
Interest | 137 | 158 | |
Cash | 1,075 | 1,099 | |
Accounts receivable | 1,423 | 1,603 | |
Short-term notes payable | 208 | 195 | |
Long-term debt | 3,600 | 4,200 | |
Net fixed assets | 9,015 | 9,230 | |
Accounts payable | 1,129 | 1,095 | |
Inventory | 2,530 | 2,600 | |
Dividends | 250 | ? | |
Common Shares | 1,000 | ||
Tax rate | 40% | 40% |
worksheet #26 is for practice. For worksheet #26, try to put together 2 sets of Income Statements (for the years 2017 and 2018), and 2 Balance Sheets (as at 2017 and 2018). If you are feeling ambitious, try to put together a Statement of Retained Earnings (for 2018 only). Note, for 2018, the dividends are not given to you, so you may have to work backwards to this amount.