Balance_sheet - $1,050,000 Rent $13,800 Utilities $8,400...

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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 $1,459,800 Advertising Expense $90,000 Cash $72,000 Salaries $180,000 Short-Term Notes Payable $15,600 Merchandise Purchased (for inventory) $316,800 Buildings
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Unformatted text preview: $1,050,000 Rent $13,800 Utilities $8,400 Equipment & Vehicles $1,066,000 Goodwill $90,000 Bonds Payable $60,000 Wheatley International Balance Sheet December 31, 201X As the accountant for Wheatley International, it is your job to prepare the companys income statement and balance sheet. Use the accounts listed below to construct the statements. Assume that the tax rate is 25%. Notes Payable (Longterm)...
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