Q1) Create balance sheet for xyz company from following data. What is the shareholder's equity? Cash balance is $10,000. Inventory is= $200,000. Store and property is= $100,000. Accounts Receivable is= $20,000. Accounts Payable is= $15,000 and Long term Debt is $170,000.
Q2) Beginning and ending finished goods inventories of company were $91,000 and $94,000 respectively. If cost of goods sold equaled $800,000, determine amount of cost of goods manufactured for this period?