1 2 3 4 5 Accounts Receivable 6 Inventory 7 Equipment 8 Accumulated depreciation--equipment 9 10 11 Liabilities and Stockholder's Equity 12 Accounts payable 13 Income taxes payable 14 Bonds payable 15 Common stock 16 Retained earnings 17 Total Assets Cash Yardley Company Comparative Balance Sheet December 31 Total 2020 $38,000 30,000 27,000 60,000 -29,000 $126,000 $24,000 7,000 27,000 18,000 50,000 $126,000 2019 $20,000 14,000 20,000 78,000 -24,000 $108,000 $15,000 8,000 33,000 14,000 38,000 $108,000 Incr/(Decr)
1 2 3 4 5 Accounts Receivable 6 Inventory 7 Equipment 8 Accumulated depreciation--equipment 9 10 11 Liabilities and Stockholder's Equity 12 Accounts payable 13 Income taxes payable 14 Bonds payable 15 Common stock 16 Retained earnings 17 Total Assets Cash Yardley Company Comparative Balance Sheet December 31 Total 2020 $38,000 30,000 27,000 60,000 -29,000 $126,000 $24,000 7,000 27,000 18,000 50,000 $126,000 2019 $20,000 14,000 20,000 78,000 -24,000 $108,000 $15,000 8,000 33,000 14,000 38,000 $108,000 Incr/(Decr)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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can you fill this up i don't understand my homework. thank you!
Transcribed Image Text:1
2
3
4 Cash
5 Accounts Receivable
6
Inventory
7
Equipment
8 Accumulated depreciation--equipment
9
10
11 Liabilities and Stockholder's Equity
12 Accounts payable
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
Assets
Total
Income taxes payable
Bonds payable
Common stock
Retained earnings
Total
Yardley Company
Comparative Balance Sheet
December 31
Sales
Less:
Cost of goods sold
Operating expenses
Interest expense
Loss on sale of equipment
Income taxes
Net income
2020
$38,000
30,000
27,000
60,000
-29,000
$126,000
$24,000
7,000
27,000
18,000
50,000
$126,000
Yardley Company
Income Statement
For the Year Ended December 31, 2020
2019
$20,000
14,000
20,000
78,000
-24,000
$108,000
$15,000
8,000
33,000
14,000
38,000
$108,000
$175,000
24,000
3,000
2,500
5,500
Additional information:
1. During the year equipment originally costing $20,000 was sold for $8,000 cash
2. All depreciation expense, of $14,500, is in the operating expenses.
Incr/(Decr)
$242,000
210,000
$32,000
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