Without the Other Revenues, what whould the net income before income taxes have
ID: 2484336 • Letter: W
Question
Without the Other Revenues, what whould the net income before income taxes have been?
Summerset Fencing
Balance Sheet
June 2017
_____________________________________________________________________
ASSETS
Current Assets:
Cash $ 28,332.90
Short-Term Investments 6,500.00
Accounts Receivable 104,068.00
Notes Receivable 13,280.00
Interest Receivable 286.53
Raw and In-Process Inventory 36,820.80
Prepaid Insurance 3,158.00
Prepaid Rent 16,600.00
Prepaid Property Tax 0.00
Prepaid Advertising 485.00
Office Supplies 735.80
----------
Total Current Assets $ 210,267.03
Plant and Equipment
Office Equipment $ 35,530.00
Accumulated Depreciation 15,829.00
----------
Book Value $ 19,701.00
----------
Shop Equipment 136,101.00
Accumulated Depreciation 34,050.00
----------
Book Value $ 102,051.00
----------
Trucks 40,255.00
Accumulated Depreciation 18,929.00
----------
Book Value $ 21,326.00
----------
Factory 180,000.00
Accumulated Depreciation 100,376.00
----------
Book Value $ 79,624.00
----------
Shipping Facility 32,860.00
Accumulated Depreciation 18,600.00
----------
Book Value $ 14,260.00
----------
Total Plant and Equipment 236,962.00
----------
Total Assets $ 447,229.03
==========
LIABILITIES
Current Liabilities
Accounts Payable $ 57,759.00
Notes Payable 0.00
Dividends Payable 0.00
Salaries and Wages Payable 12,596.00
Estimated Prop. Taxes Payable 843.00
Income Taxes Payable 4,600.00
Interest Payable 0.00
Unearned Revenue 8,000.00
----------
Total Current Liabilities $ 83,798.00
Mortgage Note Payable 6,800.00
----------
Total Liabilities $ 90,598.00
STOCKHOLDERS' EQUITY
Common Stock $ 250,000.00
Retained Earnings 106,631.03
----------
Total Stockholder's Equity 356,631.03
----------
Total Liabilities and Owner's Equity $ 447,229.03
==========
Explanation / Answer
With out "other revenues" what would net income before taxes be - Unearned Revenue
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.