AC550 Project 1

AC550 Project 1 - Unearned Revenue $4,400.00 Total Current...

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AC 550 Project Part I By Amber Wolridge Balance Sheet December 31, 2010 Assets Current Assets Cash On Hand $20,570.00 Office Supplies $2,640.00 Prepaid Insurance $2,200.00 Total Current Assets $25,410.00 Property, plant, and equipment Equipment $105,600.00 -Accumulated Depreciation ($8,800.00) $96,800.00 Total property, plant, and equipment $96,800.00 Intangible Assets Trademarks $2,090.00 Total Intangible Assets $2,090.00 Total Assets $124,300.00 Liabilities and Stockholders' Equity Current Liabilities Accounts payable $22,000.00 Wages Payable $1,100.00
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Unformatted text preview: Unearned Revenue $4,400.00 Total Current Liabilities $27,500.00 Long-term debt Bonds payable $19,800.00 Total Long-term Liabilites $19,800.00 Total Liabilities $47,300.00 Stockholder's Equity Paid-in Capital Common Stock $22,000.00 Retained earnings $55,000.00 Total paid-in capital and retained earnings $77,000.00 $124,300.00 Retained earnings Total stockholders' equity $77,000.00 + Treasury Stock- Paid in Capital $22,000.00 Ending retained earnings $55,000.00 Total Liabilities and Stock Holder's Equity...
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This note was uploaded on 02/04/2011 for the course ACCT 550 taught by Professor Abner during the Spring '10 term at DeVry Houston.

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