Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Accounting (https://www.askmehelpdesk.com/forumdisplay.php?f=19)
-   -   Liabilities and Equity Section - Balance Sheet (https://www.askmehelpdesk.com/showthread.php?t=65102)

  • Feb 21, 2007, 07:58 PM
    SJohann
    Liabilities and Equity Section - Balance Sheet
    Given the following what is the Liabilities and Equity section of the balance sheet? Thank you!
    There are 1,000,000 shares authorized and the par value is $10.

    Common Stock 125000
    Additional Paid In Capital 175000
    Retained Earnings 215000
    Sales 968000
    Rent Revenue 18000
    Gain on Sale of Land 30000
    Cost of Goods Sold 585000
    Selling Expenses 232000
    Administrative Expenses 99000
    Income Tax Expense 38500

  • All times are GMT -7. The time now is 03:13 PM.