A comparative balance sheet and income statement is shown for Cruz, Incorporated CRUZ, INCORPORATED Comparative Balance Sheets At December 31 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accumulated Total assets Liabilities and Equity Accounts payable Hages payable Income taxes payable Total current liabilities depreciation-Furniture 2020 $ 66,100 28,500 39,700 3,700 158,000 74,600 (11,600) $ 221,000 $ 10,400 6,300 1,000 17,700 2019 $ 16,600 35,200 66,100 3,000 120,900 85,000 (6,400) $ 199,500 $ 14,700 3,500 1,900 20,100
A comparative balance sheet and income statement is shown for Cruz, Incorporated CRUZ, INCORPORATED Comparative Balance Sheets At December 31 Assets Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Furniture Accumulated Total assets Liabilities and Equity Accounts payable Hages payable Income taxes payable Total current liabilities depreciation-Furniture 2020 $ 66,100 28,500 39,700 3,700 158,000 74,600 (11,600) $ 221,000 $ 10,400 6,300 1,000 17,700 2019 $ 16,600 35,200 66,100 3,000 120,900 85,000 (6,400) $ 199,500 $ 14,700 3,500 1,900 20,100
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter4: Balance Sheet: Presenting And Analyzing Resources And Financing
Section: Chapter Questions
Problem 14E
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