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Accounting
Use the below information to answer the following questions:       2020 2021 Sales $11,573 $12,936 Depreciation     1661      1736 Cost of goods sold     3979      4707 Other Expenses       846        924 Interest Expense        776        926 Cash      6067      6466 Accounts Receivables      8034      9427 Short-term Notes Payable      1171      1147 Long-term debt     20,320     24,696 Net fixed assets     50,888     54,273 Accounts Payable        4384        4644 Tax rate        26%        34% Inventory       14,283     15,288 Payout ratio         33%        30%                        A.    Create the Balance Sheets for 2020 & 2021

Use the below information to answer the following questions:       2020 2021 Sales $11,573 $12,936 Depreciation     1661      1736 Cost of goods sold     3979      4707 Other Expenses       846        924 Interest Expense        776        926 Cash      6067      6466 Accounts Receivables      8034      9427 Short-term Notes Payable      1171      1147 Long-term debt     20,320     24,696 Net fixed assets     50,888     54,273 Accounts Payable        4384        4644 Tax rate        26%        34% Inventory       14,283     15,288 Payout ratio         33%        30%                        A.    Create the Balance Sheets for 2020 & 2021

FINANCIAL ACCOUNTING
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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Use the below information to answer the following questions: 
    
2020
2021
Sales
$11,573
$12,936
Depreciation
    1661
     1736
Cost of goods sold
    3979
     4707
Other Expenses
      846
       924
Interest Expense
       776
       926
Cash
     6067
     6466
Accounts Receivables
     8034
     9427
Short-term Notes Payable
     1171
     1147
Long-term debt
    20,320
    24,696
Net fixed assets
    50,888
    54,273
Accounts Payable
       4384
       4644
Tax rate
       26%
       34%
Inventory
      14,283
    15,288
Payout ratio
        33%
       30%
              

        A.    Create the Balance Sheets for 2020 & 2021. 

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