The data is extracted from the books of Mystery Mountain Lodge at December 31, 2001: Equipment Rs.
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Question:
The data is extracted from the books of Mystery Mountain Lodge at December 31, 2001:
Equipment | Rs. 29,200 | Buildings | Rs. 450,000 |
Land | 45,000 | Owner’s capital at start | ? |
Accounts payable | 54,800 | Cash | 21,400 |
Accounts receivable | 10,600 | Furnishings | 58,700 |
Accumulated Depreciation | 10300 | Sales | 255000 |
Salaries payable | 33,500 | Snowmobiles | 15,400 |
Gross Profit | 75000 | Notes payable | 490000 |
Interest payable | 12,000 | Income | 21000 |
Owners capital at end | 411000 | Purchases | 85000 |
Requirement:
- Prepare a Balance Sheet at December 31, 2001.
- prepare a vertical common size analysis of the statement, and comment.
Related Book For
Financial Accounting and Reporting
ISBN: 978-0273744443
14th Edition
Authors: Barry Elliott, Jamie Elliott
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