Question
In: Finance
Construct a balance sheet for Sophie’s Sofas given the following data. (Be sure to list the...
| Construct a balance sheet for Sophie’s Sofas given the following data. (Be sure to list the assets and liabilities in order of their liquidity.) |
| Cash balances | = | $ | 7,000 |
| Inventory of sofas | = | $ | 170,000 |
| Store and property | = | $ | 70,000 |
| Accounts receivable | = | $ | 19,000 |
| Accounts payable | = | $ | 14,000 |
| Long-term debt | = | $ | 140,000 |
| BALANCE SHEET OF SOPHIE’S SOFAS | |||
| Assets | Liabilities & Shareholders’ Equity | ||
| (Click to select)Accounts receivableStore and propertyInventoryShareholders’ equityLong-term debtAccounts payableCash | $ | (Click to select)Accounts payableShareholders’ equityLong-term debtInventoryAccounts receivableStore and propertyCash | $ |
| (Click to select)Shareholders’ equityLong-term debtAccounts receivableStore and propertyCashAccounts payableInventory | (Click to select)CashShareholders’ equityAccounts receivableLong-term debtAccounts payableStore and propertyInventory | ||
| (Click to select)InventoryStore and propertyAccounts receivableAccounts payableShareholders’ equityCashLong-term debt | (Click to select)Store and propertyCashAccounts payableAccounts receivableInventoryShareholders’ equityLong-term debt | ||
| (Click to select)Shareholders’ equityAccounts receivableInventoryAccounts payableCashLong-term debtStore and property | |||
| Total assets | $ | Total liabilities & shareholders' equity | $ |
Solutions
jeff jeffy answered 1 year agoRelated Solutions
Construct a balance sheet for Sophie’s Sofas given the following data: Cash balances = $ 15,000...
Construct a balance sheet for Sophie’s Sofas given the following
data:
Cash balances = $ 15,000
Inventory of sofas = $ 250,000
Store and property = $ 150,000
Accounts receivable = $ 27,000
Accounts payable = $ 22,000
Long-term debt = $ 220,000
From the following balance sheet accounts, Construct a balance sheet for 2013 and 2014 List all...
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List all the working capital accounts
Find the net working capital for the years ending 2013 and
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Calculate the change in net working capital for the year
2014
Account
Balance 12/31/2013
Balance 12/31/2014
Accounts payable
$1000
$1100
Accounts receivable
$2480
$2690
Cash
$1300
$1090
Common stock
$4990
$4990
Inventory
$5800
$6030
Long-term debt
$7800
$8200
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$ 800
$ 960
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All information in $000
Total
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5,374
Cash
908
Common
Stock
651
Cost of Revenues
Subscription
925
Interest Expense
16
Additional Paid in
Capital
3,954
Retained
Earnings
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Cost of Revenues Professional Services
365
Gross Margin
4,084
Short term
securities
87
Long term
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2,328
Accounts
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Given the following information please construct a balance sheet
and an income statement for the company. It provides software via a
cloud subscription. There is no inventory.
All information in $000
Total
Revenues
5,374
Cash
908
Common
Stock
651
Cost of Revenues
Subscription
925
Interest Expense
16
Additional Paid in
Capital
3,954
Retained
Earnings
(630)
Cost of Revenues Professional Services
365
Gross Margin
4,084
Short term
securities
87
Long term
debt
2,328
Accounts
Receivable ...
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plant and equipment of $350,000 and other assets of $15,000. It had
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Construct the current assets section of the balance sheet from the following data. (Use cash as...
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collection period 36 days
Current assets:
cash:
Account receivable:
inventory:
total current assets:
construct an income statement and balance sheet for the first month of operation, given the...
construct an income statement and balance sheet for
the first month of operation, given the
following information:
Sales
$104,000.00
Collections
$77,000.00
Purchases (paid for half)
$60,000.00
Ending inventory
$57,000.00
Equipment Depreciation
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Vehicle Depreciation
$2,000.00
Heat (due next month)
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Electricity
$325.00
Telephone
$230.00
Advertising
$1,200.00
Salaries
$15,500.00
Payroll Tax Expense
$1,700.00
Office Supplies
$200.00
Insurance (due next month)
$1,250.00
Loan payment
$3,500.00
principal
$1,500.00
interest
$2,000.00
Legal fees (due next month)
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Accounting
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Vehicle...
Given the following information about Elkridge Sporting Goods, Inc., construct a balance sheet for June 30,...
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receivable of $43,758, inventory of $165,200, net fixed assets of
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$67,855, notes payables of $36,454, long-term debt of $223,200, and
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Given the following information about Cullumber Sporting Goods, Inc., construct a balance sheet for June 30,...
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receivables of $43,758, inventory of $167,000, net fixed assets of
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Given the following information about Elkridge Sporting Goods, Inc., construct a balance sheet for June 30,...
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Round to whole numbers
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