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

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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
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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. [email protected]
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