Question

4 heet From the following for 2018 for CoJo, Inc. prepare an Income Statement and a Balance S CoJo has a December 31year end. (All accounts have normal balances). Accounts Payable Accounts Receivable 200,000 120,000 56,000 58,000 20,000 300,000 288,000 98,000 12,000 500,000 32,000 140,000 6,000 10,000 180,000 100,000 50,000 36,000 151,000 900,000 4,000 60,000 120,000 29,000 29,000 8,000 Administrative Expenses Advertising Expense Building Capital in Excess of Par Cash Common Stock ($10 Par) t Cost of Goods Sold * Depreciation Expense Equipment x Gain on sale of equipment * Interest Expense Inventony Notes Payable, Long-Term / Patent Y Rent Expense Retained Earnings Sales Sales Returns and Allowances Salaries Payable y Salary Expense <Tax Expense Taxes Payable Treasury Stock Cojo, Inc. issued 200 shares of common stock on September 30, were 1,000 shares of common stock outstanding at the end of 2017. The Long Term Debt is Payable at $10,000 plus interest per year. The Treasury Stock (20 shares) was repurchased on June 30, 2018. The company declared and paid a $10,000 dividend during 2018. The total beginning Common Stock (par plus paid in capital excess of par) was $240,000 and the beginning Retained Earnings was $64,000. 2018 for $300 per share. There

Answer 1