Financial Statements Prepare the Financial Statements for the fiscal year ended December 31, 2021 for MaBak Inc. Inc. Don't forget the statement dates and dollar signs. Complete the Horizontal and Vertical analysis. Round answers to the whole percent. Account Name Accounts Payable Accounts Receivable (net) Accrued Liabilities Administration Expense Bonds Payable Car (net) Cash Cost of Goods Sold Current Maturities of Long Term Debt Equipment (Net) Income Tax Expense Inventory Amount Account Name Investments - Long Term Land - not in use, to be sold in 5 Marketable Securities $ 42,000 30,000 3,000 30,000 Net Sales 20,000 Notes Payable - Long Term 32,000 Notes Receivable 50,000 20,000 Other Income 12,250 Selling Expense 12,000 Supplies 4,400 Taxes Payable 40,000 Unearned Sales Revenue Other Expense (interest) Amount 12,000 25,000 5,000 135,000 13,000 2,000 7,600 4,000 44,000 7,500 17,750 13,000

Financial Statements Prepare the Financial Statements for the fiscal year ended December 31, 2021 for MaBak Inc. Inc. Don't forget the statement dates and dollar signs. Complete the Horizontal and Vertical analysis. Round answers to the whole percent. Account Name Accounts Payable Accounts Receivable (net) Accrued Liabilities Administration Expense Bonds Payable Car (net) Cash Cost of Goods Sold Current Maturities of Long Term Debt Equipment (Net) Income Tax Expense Inventory Amount Account Name Investments - Long Term Land - not in use, to be sold in 5 Marketable Securities $ 42,000 30,000 3,000 30,000 Net Sales 20,000 Notes Payable - Long Term 32,000 Notes Receivable 50,000 20,000 Other Income 12,250 Selling Expense 12,000 Supplies 4,400 Taxes Payable 40,000 Unearned Sales Revenue Other Expense (interest) Amount 12,000 25,000 5,000 135,000 13,000 2,000 7,600 4,000 44,000 7,500 17,750 13,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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