{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}


100000 10000 90000 10000 80000 sams town balance

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

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Assets Cash Accounts Receivable Less: Allowance for Doubtful Accounts Net Accounts Receivable Inventory Total Current Assets Fixed Assets Land Vehicle Equipment Subtotal Less: Accumulated Depreciation Net Fixed Assets Other Assets Goodwill Total Assets $92,639 $118,500 (5,925) 112,575 50,000 255,214 75,000 20,000 200,000 295,000 (90,000) 205,000 20,000 $480,214 Liabilities Current Liabilities Accounts Payable Wages Payable Taxes Payable Interest Payable Rent Payable Current Maturities of Long-Term Debt Total Current Liabilities Long-Term Debt Note Payable Mortgage Note Payable-Land Total Long-Term Debt Total Liabilities Owners' Equity Common Stock Retained Earnings Total Owners' Equity Total Liabilities and Owners' Equity Sam's Town Income Statement For the Year Ended December 31, 2011 Sales Cost of Goods Sold Gross Margin $300,000 135,000 165,000 Operating Expenses Wage Expense Depreciation Expense Rent Expense Utilities Expense Advertising Expense Bad Debt Expense Total Operating Expenses Operating Income Other Revenues & <Expenses> Interest Expense Income Before Taxes Tax Expense Net Income $37,000 30,000 12,000 12,000 10,000 5,425 106,425 58,575 < Earnings Per Share $0.57 Sam's Town Statement of Owners' Equity For the Year Ended December 31, 2011 Beginning Ba...
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online