Construct a set of Financial Statements for The Russian Spies, including a Balance Sheet and an Income Statement. Each item will be used only once, and should follow the general rules of financial statements (which items come first, groupings, etc). Cash 295 Accounts Payable 20 Wages Payable 25 Insurance Expense 45 Cost of Goods Sold 2001 Sales 3890 Retained Earnings 803 Prepaid Insurance 30 Property Plant & Equip 1080 Depreciation Expense 108 Accumulated Depreciation 360 Interest Expense 24 Total Assets 2400 Gross Margin ? Net Income 850 Net Income 850 As of Dec 31, 2016 For the Year Ended Dec. 31, 2016 Total Liabilities 767 Total Equity ? Total Liabilities & Equity ? Notes Payable 680 Payroll Expense 402 Accounts Receivable 155 Rent Expense 405 Shareholder Distributions 30 Common Stock 10 Unearned Revenue 42 Tax & Licenses Expense 55 Goodwill (mojo) 1000 Inventory 200
Construct a set of Financial Statements for The Russian Spies, including a
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Cash 295 |
Accounts Payable 20 |
Wages Payable 25 |
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Insurance Expense 45 |
Cost of Goods Sold 2001 |
Sales 3890 |
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Prepaid Insurance 30 |
Property Plant & Equip 1080 |
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Interest Expense 24 |
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Total Assets 2400 |
Gross Margin ? |
Net Income 850 |
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Net Income 850 |
As of Dec 31, 2016 |
For the Year Ended Dec. 31, 2016 |
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Total Liabilities 767 |
Total Equity ? |
Total Liabilities & Equity ? |
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Notes Payable 680 |
Payroll Expense 402 |
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Rent Expense 405 |
Shareholder Distributions 30 |
Common Stock 10 |
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Unearned Revenue 42 |
Tax & Licenses Expense 55 |
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Inventory 200 |
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