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  • Challenge Problem Q 27

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    Sehee Nam
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    Cash Accounts receivable Inventory Current assets Net fixed assets total assets balance sheet as of Dec. 31, 2008 $2,528 Accounts payable 3,347 Notes payable 5,951 Current liabilities $11,826 long-term debt $21,203 owners' equity Common Stock Retained Earnings Total liab. And equity 2009 Income Statement Sales $5,390.00 COGS 1,901.00 Other expenses 343.00 Depreciation 723.00 EBIT $2,423.00 Interest 386.00 EBT $2,037.00 Taxes (40

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    Challenge Problem q 27

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    Cash Accounts receivable Inventory Current assets Net fixed assets total assets balance sheet as of Dec. 31, 2008 $2,528 Accounts payable 3,347 Notes payable 5,951 Current liabilities $11,826 long-term debt $21,203 owners' equity Common Stock Retained Earnings Total liab. And equity 2009 Income Statement Sales $5,390.00 COGS 1,901.00 Other expenses 343.00 Depreciation 723.00 EBIT $2,423.00 Interest 386.00 EBT $2,037.00 Taxes (40

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    1 views1 page

    Challenge Problem Q 27

    Uploaded by

    Sehee Nam
    Cash Accounts receivable Inventory Current assets Net fixed assets total assets balance sheet as of Dec. 31, 2008 $2,528 Accounts payable 3,347 Notes payable 5,951 Current liabilities $11,826 long-term debt $21,203 owners' equity Common Stock Retained Earnings Total liab. And equity 2009 Income Statement Sales $5,390.00 COGS 1,901.00 Other expenses 343.00 Depreciation 723.00 EBIT $2,423.00 Interest 386.00 EBT $2,037.00 Taxes (40

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
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    of 1

    Cash

    Accounts receivable
    Inventory
    Current assets
    Net fixed assets

    Total assets

    Cash
    Accounts receivable
    Inventory
    Current assets
    Net fixed assets

    Total assets

    Balance sheet as of Dec. 31, 2008


    $2,528
    Accounts payable
    3,347
    Notes payable
    5,951
    Current liabilities
    $11,826
    Long-term debt
    $21,203

    $33,029

    Owners' equity
    Common Stock
    Retained Earnings
    Total liab. & equity

    Balance sheet as of Dec. 31, 2009


    $2,694
    Accounts payable
    3,928
    Notes payable
    6,370
    Current liabilities
    $12,992
    Long-term debt
    $2,244

    $15,236

    $2,656
    488
    $3,144
    $8,467
    $21,181.20
    236.80
    $33,029

    $2,683
    478
    $3,161
    $10,290

    Owners' equity
    Common Stock
    Retained Earnings
    Total liab. & equity

    $1000
    785
    $15,236

    2008 Income Statement


    Sales
    $4,822.00
    COGS
    1,668.00
    Other expenses
    394.00
    Depreciation
    692.00
    EBIT
    $2,068.00
    Interest
    323.00
    EBT
    $1,745.00
    Taxes (40%)
    698.00
    Net income
    $1,047.00

    2009 Income Statement


    Sales
    $5,390.00
    COGS
    1,901.00
    Other expenses
    343.00
    Depreciation
    723.00
    EBIT
    $2,423.00
    Interest
    386.00
    EBT
    $2,037.00
    Taxes (40%)
    814.80
    Net income
    $1,222.20

    Dividends
    Additions to RE

    Dividends
    Additions to RE

    $588.00
    459.00

    $674.00
    548.20

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