2017 2018 16,549 $18,498 2,376 2,484 6,731 1,353 1,178 1,110 1,325 8,676 9,247 S

Question

2017 2018 16,549 $18,498 2,376 2,484 6,731 1,353 1,178 1,110 1,325 8,676 9,247 Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes payable Long-term debt Net fixed assets Accounts payable Inventory Dividends 23 5,690 11,488 13,482 1674 1,641 29,060 35,229 72,770 77,610 6,269 6,640 20,424 21,862 ,979 2,314 Prepare a balance sheet for this company for 2017 and 2018. (Be sure to list th accounts in order of their liquidity. Do not round intermediate calculations.) TACO SWELL, INC., Balance Sheet as of Dec. 31 2017 2018 Assets Cash Accounts receivable Current assets Net fixed assets Total assets Liabilities Accounts payable Notes payable Current liabilities Long-term debt Owners' equity 25

Explanation / Answer

Prepare a balance sheet :

Income statement :

2017 2018 Assets Current assets Cash 8676 9247 Account receivable 11488 13482 Inventory 20424 21862 Total current assets 40588 44591 Non Current assets Net fixed assets 72770 77610 Total assets 113358 122201 Liabilities Current liabilities Account payable 6269 6640 Short term notes payable 1674 1641 Total current liabilities 7943 8281 Long term liabilities Long term debt 29060 35229 Total liabilities 37003 43510 Owner's equity Owner's capital 76355 78691 Total liabilities and stockholder's equity 113358 122201

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