MGMT 5123 Week 1: Prepare a balance sheet and income statements for TNT, Inc.

MGMT 5123 Week 1 MyFinanceLab Assignment

P3-13 (Reviewing financial statements) Prepare a balance sheet and income statements for TNT, Inc. From the scrambled list of items found here…

  1. Prepare an income statement for TNT Inc
  2. Prepare a balance sheet for TNT Inc.
  3. What can you say about the firm’s financial condition based on these financial statements?
Depreciation expense 98,200
Cash 337,300
Long-term debt 501,400
Sales 859,100
Accounts Payable 153,000
General and Administrative expenses 117,600
Buildings and equipments 1,343,000
Notes payable 111,500
Accounts Receivable 251.470
Interest expense 7,220
Accrued Expenses 11,750
Common Stock 433,100
Cost of goods sold 445,900
Inventory 148,355
Taxes 75,605
Accumulated depreciation 395,300
Taxes payable 21,350
Retained Earnings 452,725

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Course: MGMT 5123 Finance & Accounting for Non Finance Managers
School: Southern Wesleyan University

  • 17/10/2017
  • 15
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