ACC 203

ACC 203 Condensed financial data of Saffordville Company are shown below SAFFORDVILLE COMPANY Comparative Balance Sheets December 31 Assets 2017 2016 Cash $102,700 $ 33,400 Accounts receivable 60,800 37,000 Inventory 126,900 102,650 Investments 79,500 107,000 Equipment 315,000 205,000 Accumulated depreciation—equipment (44,500) (40,000) Total $640,400 $445,050 Liabilities and Stockholders’ Equity Accounts Read more…

ACC 203 The comparative statements of Lauer Company are presented below and Compute the following ratios for 2017 LAUER COMPANY Income Statement For the Year Ended December 31 2017 2016 Net sales (all on account) $650,000 $520,000 Expenses Cost of goods sold 415,000 354,000 Selling and administrative 150,800 114,800 Interest expense Read more…