Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 4 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 03 Oct 2017 My Price 9.00

China Tea Company.

Based on the following information prepare a classified balance sheet and an income statement for the China Tea Company.

China Tea Company
Trial Balance December 31, 201X
  Debit Credit
Cash 10,500  
Accounts receivable 150,000  
Prepaid rent 5,000  
Inventory 25,000  
Equipment 300,000  
Accumulated depreciation - equipment   125,000
Accounts payable   30,000
Notes payable - due in 3 months   30,000
Salaries payable   4,000
Interest payable   1,000
Capital stock   200,000
Retained earnings   50,000
Sales revenue   400,000
Cost of goods sold 180,000  
Salaries expense 120,000  
Rent expense 15,000  
Depreciation expense 30,000  
Interest expense 2,000  
Advertising expense 2,500  
Totals 840,000 840,000

 

Answers

Maurice Tutor
(5)
Status NEW Posted 03 Oct 2017 10:10 PM My Price 9.00

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