COMP EXAMPLE

COMP EXAMPLE - Cash Accounts receivable, net of $2,500...

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Cash 10,000 45,000 Inventory 70,000 11,500 Fixed assets 500,000 Accumulated depreciation (200,000) 436,500 Accounts payable 30,000 Debt 200,000 Retained earnings 106,500 Common stock 100,000 - Accounts receivable, net of $2,500 allowance for doubtful accounts Marketable securities, at fair value, cost of $10,000
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450,000 accounts payable 450,000 2 Accounts receivable 750,000 Sales 750,000 COS 500,000 Inventory 500,000 3 Cash 560,000 accounts receivable 560,000 4 COS 20,000 Inventory 20,000 5 Impairment expense 5,000 Accumulated depreciation 5,000 6 Accounts payable 465,100 Cash 460,000 COS or discounts earned 5,100 7 Inventory 10,000 G&A expense 25,000 Cash 35,000 8 Bad debt exp (SG&A) 11,250 Allowance for DA's 11,250 9 Allowance for DA's 12,500 Accounts receivable 12,500 10 Accumulated comp. Loss 500 * Marketable securities 500 11 Interest expense 1,667 Debt 5,000 Cash 6,667 12 Fixed assets 100,000 Cash 100,000 Fixed assets 385 Interest expense 385 13 Cash 100,000
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This note was uploaded on 08/06/2008 for the course ECON 136A taught by Professor Anderson during the Winter '08 term at UCSB.

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COMP EXAMPLE - Cash Accounts receivable, net of $2,500...

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