Coronado Industries' balance sheet at December 31, 2024, is presented below. Current Assets Cash CORONADO INDUSTRIES...

  

Transcribed Image Text:

Coronado Industries' balance sheet at December 31, 2024, is presented below. Current Assets Cash CORONADO INDUSTRIES Balance Sheet December 31, 2024 Accounts receivable Finished goods inventory (1,770 units) Total current assets Property, Plant, and Equipment Equipment Less: Accumulated depreciation Total assets Liabilities Assets Notes payable Accounts payable Total liabilities Stockholders' Equity Common stock Retained earnings Total stockholders' equity Liabilities and Stockholders' Equity $47,200 11,800 Total liabilities and stockholders' equity $47,200 29,500 $8,850 86,730 28,320 123,900 35,400 $159,300 $29,500 53,100 82,600 76,700 $159,300 Coronado Industries' balance sheet at December 31, 2024, is presented below. Current Assets Cash CORONADO INDUSTRIES Balance Sheet December 31, 2024 Accounts receivable Finished goods inventory (1,770 units) Total current assets Property, Plant, and Equipment Equipment Less: Accumulated depreciation Total assets Liabilities Assets Notes payable Accounts payable Total liabilities Stockholders' Equity Common stock Retained earnings Total stockholders' equity Liabilities and Stockholders' Equity $47,200 11,800 Total liabilities and stockholders' equity $47,200 29,500 $8,850 86,730 28,320 123,900 35,400 $159,300 $29,500 53,100 82,600 76,700 $159,300

Answer rating: 100% (QA)

To prepare a budgeted statement of cost of goods sold COGS well need to calculat... View the full answer