2010.WK7income_statementsolution

2010.WK7income_statementsolution - Wheatley International...

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List of Accounts for Wheatley International Accounts Receivable $120,600 Land $1,500,000 Notes Receivable $61,200 Insurance Expenses $54,000 Accounts Payable $45,000 Interest Expenses $24,600 Common Stock $1,896,000 Depreciation $400,000 Net Sales $1,053,000 Ending Inventory $126,600 $210,000 Beginning Inventory $154,800 Retained Earnings $2,259,800 Advertising Expense $90,000 Cash $72,000 Salaries $180,000 Short-Term Notes Payable $15,600 Merchandise Purchased (for inventory) $316,800 Buildings $1,050,000 Rent $13,800 Utilities $8,400 $1,066,000 Goodwill $90,000 Bonds Payable $60,000 List of Accounts for Wheatley International Income Statement Account Category Insurance Expenses $54,000 Operating Expenses Interest Expenses $24,600 Operating Expenses Net Sales $1,053,000 Revenues Wheatley International Income Statement FY 201X Notes Payable (Long‑term)
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Ending Inventory $126,600 Cost of Goods Sold Beginning Inventory $154,800 Cost of Goods Sold Advertising Expense
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This note was uploaded on 05/23/2010 for the course BUSN BUSN115 taught by Professor Goldwasser during the Spring '10 term at DeVry Chicago O'Hare.

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2010.WK7income_statementsolution - Wheatley International...

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