GeneralProducts Inc is incorporated in Nevada, USA on Jan 1,2013 to takeover a local retail chain. The objective of the compan
suuply goods of every day use to customers at the most competitive prices. GeneralProducts has chain of stores throughout
USA. The retial operations of the company are so designed that customers can shop seamlessly in stores and online. objective of the company is to
of stores throughout
s and online. 1 Amortization on Trade Marks 2 Premium expense 3 Estimated Liability for premiums 4 Interest Expense 5 Issue Price of 5% Bonds 6 Loss/Gain on redemption of 6% Bonds 7 Depreciation Expense
8 Carrying Value of 5% Bonds Payable on 12/31/2016 9 Inventory 10 Inventory of Premiums 11 Selling and Administrative Expenses 12 Accounts Receivable 13 Accounts Payable 14 Interest payable 15 Cash Balance Journal Entries ( explantion not needed)
Description
1 2 3 4 5 6 7 8 9 10 11 12 13 Dr. Cr. 14 15 16 17 18 19 GeneralProducts INC.
Income Statement
For the Period of January 1 - December 31,2016
Revenues: Operating Income
Other Revenues and Expenses
Other Gains and Losses
Net Income GeneralProducts Inc.
Statement of Retained Earnings
For the Period of January 1 - December 31,2016
Beginning Balance
Net Income
Ending Balance December 31,2016 d Earnings
December 31,2016 GeneralProduc
Balance Sh
As Of December Current Assets:
Cash
Accounts Receivable
Inventory
Inventory of Premiums Total Current Assets
Long Term Investments
Total Long Term Investments Property, Plant and Equipment: Less: Accumulated Depreciation
Land
Total Property Plant and Equipment
Intangible Assets: Trademarks
Less Amortization
Total Intangible Assets Total Assets GeneralProducts Inc.
Balance Sheet
As Of December 31, 2016
Current Liabilibities: Accounts Payable
Interest Payable
Liability for Premiums
and Coupons
Total current Liabilities Long-term Liabilities:
5% Bonds Payable
Unamortized Discount
Total Long-term Liabilities
Total Liabilities
Stockholders' Equity Paid in Capital
Common Stock
APIC- Common Stock
Total Paid in Capital Retained Earnings
Total Stockholders' Equity Total Equity and Liabilities

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Status NEW Posted 20 Jun 2017 05:06 AM My Price 4.00

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