Question 4: The data is extracted from the books of Mystery Mountain Lodge at December 31,...

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Question 4: The data is extracted from the books of Mystery Mountain Lodge at December 31, 2001: CHAK Equipment 28,000 Buildings 410,000 Land 45,000 Owner's capital at start ? Accounts payable 50,000 Cash 21,400 Accounts receivable 10,600 Fixture 49,600 Accumulated Depreciation 20000 Sales 255,000 Salaries payable 34,000 Snowmobiles 15,400 Gross Profit 75,000 Notes payable 490,000 Interest payable 12,000 Income 21,000 Owners capital at end 415,000 Purchases 85,000 Requirement: i. Prepare a Balance Sheet at December 31, 2001. ii. prepare a vertical common size analysis of the statement, and comment. (4 marks) Question 4: The data is extracted from the books of Mystery Mountain Lodge at December 31, 2001: CHAK Equipment 28,000 Buildings 410,000 Land 45,000 Owner's capital at start ? Accounts payable 50,000 Cash 21,400 Accounts receivable 10,600 Fixture 49,600 Accumulated Depreciation 20000 Sales 255,000 Salaries payable 34,000 Snowmobiles 15,400 Gross Profit 75,000 Notes payable 490,000 Interest payable 12,000 Income 21,000 Owners capital at end 415,000 Purchases 85,000 Requirement: i. Prepare a Balance Sheet at December 31, 2001. ii. prepare a vertical common size analysis of the statement, and comment. (4 marks)

Answer rating: 100% (QA)

Mystery mountain lodge Balance sheet Assets 415000 490000 50000 34000 12... View the full answer