Business
Business, 17.03.2022 14:00, kfaith88

$46,892.00 cash on hand Taxes were 20% of pre-tax profit of which $9,000.00 is still owed
$128,000.00 in common stock and paid a dividend of $8,350.00
Mortgage loan with the long-term portion outstanding $142,800.00. current portion
owed this period was $14,600.00
Beginning of year inventory $62,720.00
Utilities expenses incurred throughout year $5,440.00
Depreciation of building and equipment incurred throughout year $18,600.00
Advertising expense incurred throughout year $14,200.00
Interest expense incurred throughout year $3,100.00
Business currently holds $49,000 in other investments that may be sold or turned into
depreciable assets in the future
Sales have grown over 12% from previous year and expects similar growth for the
following year
Current year sales are $958,337.00
Spent $833,900.00 to support her encouraging sales figures
$139,300.00 is still owed to suppliers
Notes payable of $48,000.00
Paid $369,400.00 for her property where land was listed at $109,300.00 and building &
equipment were $232,600.00
Current end of year accounts receivable $59,501.00
Had a gross profit of $251,060.00
Salary expense was $125,970.00
Operating expense was $5,550.00
At the beginning of the current year, accumulated depreciation on building and
equipment was $104,100.00
Previously retained $61,000.00 of past earnings to help fund the business

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Answers: 1

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$46,892.00 cash on hand Taxes were 20% of pre-tax profit of which $9,000.00 is still owed
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