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Use the following information for Taco Swell, Incorporated, (assume the tax rate is 23 percent): Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes payable Long-term debt Net fixed assets Accounts payable Inventory Dividends 2021 2020 $13,073 $13,836 1,691 4,129 961 810 6,112 8,070 1,200 20,410 50,954 4,432 14,334 1,100 1,766 4,737 839 941 6,556 9,517 1,177 24,711 54,363 4,734 15,318 1,648 Prepare a balance sheet for this company for 2020 and 2021. (Be sure to list the accounts in order of their liquidity. Do not round intermediate calculations.)

Use the following information for Taco Swell, Incorporated, (assume the tax rate is 23 percent): Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes payable Long-term debt Net fixed assets Accounts payable Inventory Dividends 2021 2020 $13,073 $13,836 1,691 4,129 961 810 6,112 8,070 1,200 20,410 50,954 4,432 14,334 1,100 1,766 4,737 839 941 6,556 9,517 1,177 24,711 54,363 4,734 15,318 1,648 Prepare a balance sheet for this company for 2020 and 2021. (Be sure to list the accounts in order of their liquidity. Do not round intermediate calculations.)

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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302.

Subject : - finance 

Use the following information for Taco Swell, Incorporated, (assume the tax rate is 23 percent): Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes payable Long-term debt Net fixed assets Accounts payable Inventory Dividends 2021 2020 $13,073 $13,836 1,691 4,129 961 810 6,112 8,070 1,200 20,410 50,954 4,432 14,334 1,766 4,737 839 941 6,556 9,517 1,177 24,711 54,363 4,734 15,318 1,100 1,648 Prepare a balance sheet for this company for 2020 and 2021. (Be sure to list the accounts in order of their liquidity. Do not round intermediate calculations.)
Transcribed Image Text:Use the following information for Taco Swell, Incorporated, (assume the tax rate is 23 percent): Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes payable Long-term debt Net fixed assets Accounts payable Inventory Dividends 2021 2020 $13,073 $13,836 1,691 4,129 961 810 6,112 8,070 1,200 20,410 50,954 4,432 14,334 1,766 4,737 839 941 6,556 9,517 1,177 24,711 54,363 4,734 15,318 1,100 1,648 Prepare a balance sheet for this company for 2020 and 2021. (Be sure to list the accounts in order of their liquidity. Do not round intermediate calculations.)
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