1. Rafter Company had the following accounts and balances at December 31, 2018: Equipment Cash A...

 

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1. Rafter Company had the following accounts and balances at December 31, 2018: Equipment Cash A A 205,000 Unearned Revenue 12,000 Inventory 38,000 Salary Expense 65,000 Note Payable - 1 year Common Stock (5,000 shares) Ot 24,000 Treasury Stock (1,000 shares) 14,000 50,000 Sales Revenues 190,000 Accounts Receivable A 8,000 Income Tax Expense 17,000 Cost of Goods Sold Prepaid Rent Expense A 3,000 Interest Revenue 2,000 6,000 Retained Earnings 1/1/18 90,000 50,000 APIC OE 70,000 Calculate the following amounts for the company at December 31, 2018. Place your answers in the space provided and list each account to support your answer in the space directly below your answer. Answers without supporting accounts will not be graded (abbreviations are fine). 1. Rafter Company had the following accounts and balances at December 31, 2018: Equipment Cash A A 205,000 Unearned Revenue 12,000 Inventory 38,000 Salary Expense 65,000 Note Payable - 1 year Common Stock (5,000 shares) Ot 24,000 Treasury Stock (1,000 shares) 14,000 50,000 Sales Revenues 190,000 Accounts Receivable A 8,000 Income Tax Expense 17,000 Cost of Goods Sold Prepaid Rent Expense A 3,000 Interest Revenue 2,000 6,000 Retained Earnings 1/1/18 90,000 50,000 APIC OE 70,000 Calculate the following amounts for the company at December 31, 2018. Place your answers in the space provided and list each account to support your answer in the space directly below your answer. Answers without supporting accounts will not be graded (abbreviations are fine).