Stacyu04a2(1)(1) - Long-term notes Payable $75,000.00 Rent...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Financial Statements Preparation U4A2 Jennifer Stacy BUS 3060 Fill in the Account Name 11/2/2010 Fill in the $$$ ABC Management Consulting ABC Management Consulting Balance Sheet Income Statement as of December 31, 2009 for Twelve Months ending 12-31-2009 Assets Liabilities and Equity Revenue Current Assets Current Liabilities Sales $742,460.00 Cash $15,000.00 Accounts Payable $32,000.00 Cost of goods sold $406,845.00 Accounts Receivable $60,660.00 Interest Payable $2,150.00 Inventory $79,755.00 Salaries Payable $16,000.00 Gross Profit $335,615.00 Prepaid Insurance $3,600.00 Total Current Liabilities $50,150.00 Office Supplies $17,000.00 Operating Expenses Total Current Assets $176,015.00 Noncurrent Liabilities Salaries Expense $105,000.00 Noncurrent Assets Insurance Expense $4,600.00 Office Equipment $120,000.00
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Long-term notes Payable $75,000.00 Rent Expense $14,400.00 Office Supplies Expense $3,000.00 Long-term Investments $100,000.00 Adversiting Expense $48,000.00 Accumulated Depreciation ($10,000.00) Total Liabilities $125,150.00 Utilities Expense $11,000.00 Depreciation Expense $10,000.00 Total $210,000.00 Equity Total Operating Expenses $196,000.00 Retained Earnings $120,000.00 Operating Income $139,615.00 Current Period Earnings $140,865.00 Total Equity $260,865.00 Non-Operating (Interest) Total Assets $386,015.00 Total Liabilities and Equity $386,015.00 Interest Earned $5,000.00 Interest Expense ($3,750.00) Total Non-Operating or Other $1,250.00 Net Income $140,865.00 References Enter your references here. SSGIRL002000@YAHOO.COM...
View Full Document

Ask a homework question - tutors are online