E1-25A. (Learning Objectives 3, 4: Apply the accounting equation; construct a balancesheet) The following are the assets and liabilities of Jill Carlson Realty Company, as ofJanuary 31, 2018. Also included are revenue, expense, and selected stockholders’ equity figuresfor the year ended on that date (amounts in millions):Total revenue .......................................Receivables...........................................Current liabilities .................................Common stock.....................................Interest expense....................................Salary and other employee expenses.....Long-term liabilities .............................$ 25.70.52.939.21.513.7102.6Investment assets (long-term) ......Property and equipment, net .......Other expenses............................Retained earnings, beginning.......Retained earnings, ending ...........Cash............................................Other assets (long-term)..............$ 79.41.67.62.6?57.29.3Requirement1. Construct the balance sheet of Jill Carlson Realty Company at January 31, 2018. Use theaccounting equation to compute ending retained earnings.
E1-25A. (Learning Objectives 3, 4: Apply the
sheet
January 31, 2018. Also included are revenue, expense, and selected
for the year ended on that date (amounts in millions):
Total revenue .......................................
Receivables...........................................
Current liabilities .................................
Common stock.....................................
Interest expense....................................
Salary and other employee expenses.....
Long-term liabilities .............................
$ 25.7
0.5
2.9
39.2
1.5
13.7
102.6
Investment assets (long-term) ......
Property and equipment, net .......
Other expenses............................
Retained earnings, ending ...........
Cash............................................
Other assets (long-term)..............
$ 79.4
1.6
7.6
2.6
?
57.2
9.3
Requirement
1. Construct the balance sheet of Jill Carlson Realty Company at January 31, 2018. Use the
accounting equation to compute ending retained earnings.
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