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Free help with financial accounting school work
A company's balance sheets
December 31 2012 2011 Cash $15,000 $30,000 Receivables 70,000 60,000 Inventories 60,000 50,000 Plant assets (net) 200,000 180,000 345,000 320,000 Accounts payable 50,000 60,000 Mortgage payable (15%) 100,000 100,000 Common Stock, $10 par 140,000 120,000 Retained earnings 55,000 40,000 345,000 320,000 Additional information: 1) Net income was $25,000. 2) Sales on account were $410,000. Sales returns and allowances were $20,000. 3) Cost of goods sold was $198,000. 4) The allowance for doubtful accounts was $2,500 on December 31, 2012, and $2,000 on December 31,2011. I have tried to divide the current assts/current liabilities, Adding some of the additional info. To the numbers in numerouse ways. Just not getting it. |
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