Wilson's Shoe Warehouse, Incorporated, previously called DSW, sells luxurious and fashionable shoes. Its balance sheet, at August 3, 2019 (the first Saturday of the month), contained the following items and approximate amounts (in millions). Amounts owed to suppliers $ 672 Wilson's Shoe Warehouse's right to collect on account 96 Currency and bank account balances 86 Common stock issued to stockholders 482 Warehouses, stores, and offices 1,755 Merchandise held for sale 744 Amounts owed for promissory notes 1,235 Accumulated profits of the company 292 Required: Give the account name commonly used for each item listed. Prepare the balance sheet as of August 3, 2019, providing appropriate totals and subtotals. As of August 3, did most of the financing for assets come from creditors or stockholders

Vortex company operates a retail store with two departments. information about those departments follows. department a department b sales $ 800,000 $ 450,000 cost of goods sold 497,000 291,000 direct expenses salaries 125,000 88,000 insurance 20,000 10,000 utilities 24,000 14,000 depreciation 21,000 12,000 maintenance 7,000 5,000 the company also incurred the following indirect costs. salaries $36,000 insurance 6,000 depreciation 15,000 office expenses 50,000 indirect costs are allocated as follows: salaries on the basis of sales; insurance and depreciation on the basis of square footage; and office expenses on the basis of number of employees. additional information about the departments follows. department square footage number of employees a 28,000 75 b 12,000 50 required: 1. determine the departmental contribution to overhead and the departmental net income for department a and department b.