The debit's and credits are not equaling to each other and i
can't find out what the ROE is.
I know that i missed income taxes payable but it still doesnt equal
to each other.
Homework Answers
1.
| Juan Real Estate
Company Statement of Financial Position March 31, 2018 |
||
| Assets | ||
| Current Assets | ||
| Cash | $ 63,000 | |
| Accounts Receivable | 49,800 | |
| Office Supplies Inventory | 800 | |
| Total Current Assets | $ 113,600 | |
| Noncurrent Assets | ||
| Automobiles, at cost | 40,000 | |
| Less: Accumulated Depreciation | 15,000 | 25,000 |
| Office Equipment, at cost | 4,000 | |
| Less: Accumulated Depreciation | 1,500 | 2,500 |
| Total Noncurrent Assets | 27,500 | |
| Total Assets | $ 141,100 | |
| Liabilities | ||
| Current Liabilities | ||
| Accounts Payable | 22,750 | |
| Salaries and Commissions Payable | 2,000 | |
| Income Taxes Payable | 12,600 | |
| Total Current Liabilities | 37,350 | |
| Long-term Liabilities | ||
| Notes Payable | 40,000 | |
| Total Liabilities | 77,350 | |
| Shareholders Equity | ||
| Contributed Capital | 45,000 | |
| Retained Earnings ( 8,850 + 18,900 - 9,000) | 18,750 | |
| Total Shareholders Equity | 63,750 | |
| Total Liabilities and Shareholders Equity | $ 141,100 | |
4.
| Net Profit Margin | 19 | % |
| Return on Equity | 30 | % |
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