Posted on

Nybrostrand Company_Prepare an income statement and balance sheet_Answer

Nybrostrand Company_Prepare an income statement and balance sheet_Answer

Nybrostrand Company_Prepare an income statement and balance sheet_Answer

Nybrostrand Company_Prepare an income statement and balance sheet_Answer

Nybrostrand Company_Prepare an income statement and balance sheet_Answer

Below find the trial balance for Nybrostrand Company.
Prepare an income statement and balance sheet in good format. After you have completed the two statements comment on the success of the company. Support your answer with information from the financial statements you just prepared.

Nybrostrand Company
31-Dec-11
Trial Balance (accounts in alphabetical order)

Debit Credit
Accounts payable $ 67,000
Accounts receivable $ 24,500
Cash 16,700
Common stock 10,000
Depreciation expense 24,350
Cost of goods sold 254,000
Equipment (net of depreciation) 425,000
Insurance 1,400
Inventory 25,000
Long-term debt 145,000
Marketing 4,500
Paid-in capital 90,000
Property taxes 8,900
Rent 18,000
Retained earnings ?
Revenues 456,000
Salaries 67,500
Utilities 6,700

Total 876,550 768,000

For instant digital download of the above solution, Please click on the “PURCHASE” link below to get the tutorial for Nybrostrand Company_Prepare an income statement and balance sheet_Answer

For instant digital download of the above solution or tutorial, please click on the below link and make an instant purchase. You will be guided to the PAYPAL Standard payment page wherein you can pay and you will receive an email immediately with a download link. Please note that in case of technical glitch, the solutions will be emailed to you within 24 hours.

In case you find any problem in getting the download link or downloading the tutorial, please send us an email on mail@edusolutionguide.com

Nybro