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16-3 | a | b | a-b=c | c/b |
Year 2020 | Year 2019 | Amount | Percent | |
Current Assets | ||||
Cash | $ 15,750 | $ 10,500 | $ 5,250 | 50.00% |
Accounts Receivable | $ 18,000 | $ 13,500 | $ 4,500 | 33.33% |
Merchandise Inventory | $ 18,750 | $ 22,500 | $ (3,750) | -16.67% |
Prepaid Advertising | $ 54,000 | $ 45,000 | $ 9,000 | 20.00% |
Total Current Assets | $ 106,500 | $ 91,500 | $ 15,000 | 16.39% |
Plant and Euqipment: | ||||
Building | $ 120,000 | $ 126,000 | $ (6,000) | -4.76% |
Land | $ 90,000 | $ 90,000 | $ - | 0.00% |
Total Plant and Euqipment | $ 210,000 | $ 216,000 | $ (6,000) | -2.78% |
Total Assets | $ 316,500 | $ 307,500 | $ 9,000 | 2.93% |
Current Liabilties: | ||||
Accounts Payable | $ 132,000 | $ 120,000 | $ 12,000 | 10.00% |
Salaries payable | $ 22,500 | $ 18,000 | $ 4,500 | 25.00% |
Total Current liabilities | $ 154,500 | $ 138,000 | $ 16,500 | 11.96% |
Long term liabilities: | ||||
Mortgage Note payable | $ 99,000 | $ 87,000 | $ 12,000 | 13.79% |
Total Liabilities | $ 253,500 | $ 225,000 | $ 28,500 | 12.67% |
Owner's Equity | ||||
A Brown Capital | $ 63,000 | $ 82,500 | $ (19,500) | -23.64% |
Total Liabilities and owner's Equity | $ 316,500 | $ 307,500 | $ 9,000 | 2.93% |
16-4 | ||||
Sales | $ 34,900 | |||
Less: | ||||
Sales Return and Allowance | $ 1,092 | |||
Sales Discount | $ 1,152 | $ (2,244) | ||
Net Sale | $ 32,656 | |||
Less: Cost of Goods Sold | ||||
Beginning inventory | $ 1,248 | |||
Add: Net Purchases | ||||
Purchases | $ 10,512 | |||
Less: Purchase Discount | $ (540) | $ 9,972 | ||
Cost of goods available for sale | $ 11,220 | |||
Less: Ending Inventory | $ (1,600) | |||
Cost of Goods Sold | $ (9,620) | |||
Gross Profit | $ 23,036 | |||
Less: Operating Expense | ||||
Depreciation Expense | $ 115 | |||
Salary Expense | $ 5,200 | |||
Insurance Expense | $ 2,600 | |||
Utility Expense | $ 210 | |||
Plumbin Expense | $ 250 | |||
Rent Expense | $ 180 | |||
Total Operating Expense | $ (8,555) | |||
Net Income | $ 14,481 |
ce Comparative December 1, 2020 e Sheet 2018 INCREASE DECREASE amoum percent 2000 2010 $132.000 22.500 $154500 $120...