Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Basic Finance Expert

The Sunshine Inn, a solitary proprietorship, has some accounts which are given below:

rooms sales= $1,000,000
Land= 80,000
Accounts payable= 5,000
Inventories= 15,000
Accounts receivable= 80,000
Bonds payable (long- term)= 300,000
Temporary investments= 25,000
Franchise fee (deferred)=15,000
Accumulated depreciation= 150,000
Income tax payable= 10,000
Building= 500,000
Equipment and furnishings= 200,000
Prepaid expenses= 8,000
Accrued expenses= 10,000
Jerry Smith, Capitol (1/1/2014)= 300,000
Deferred income taxes(non-current/credit balance)= 20,000
Interest Expense= 25,000

Additional information is given below:

Sunshine Inn net income for 2014 was $145,000 and Jerry withdraw 427,000 for personal use throughout 2014.

problem:

Create the balance sheet for this Inn as of December 31, 2014.

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M914076

Have any Question? 


Related Questions in Basic Finance

Identify general-purpose statements and communication

Identify general-purpose statements and communication objectives for several situations. Read the following situations and write a general-purpose statement and a specific communication objective-the results you want-for ...

Read one practical article of how psychology affects

Read one practical article of how psychology affects spending behavior. Easily retrieve possible articles by doing an online search using the terms "psychology" and "spending." Summarize the main points of the article.

Module discussiontwo separate discussions at least 150

Module Discussion TWO SEPARATE DISCUSSIONS. AT LEAST 150 WORDS EACH. Cost of Capital Actions for 'Cost of Capital' In light of the Enron, Worldcom, option back dating, government bailouts/nationalizations and Madoff scan ...

1 discuss factors that must be considered for capital

1. Discuss factors that must be considered for capital budgeting for an MNC's foreign subsidiary that might not be considered for a domestic investment. 2. Consider investments in Brazil, Hungary, and Germany and discuss ...

Cost estimation and budgetingan important aspect of cost

Cost Estimation and Budgeting An important aspect of cost budgeting is personnel. A current professional issue in the engineering field is companies using contract engineers like employees but refusing to actually make t ...

1 how can tax law changes create incentives for investors

1. How can tax law changes create incentives for investors to sell their properties to other investors? 2. How important are taxes in the decision to sell a property? 3. Are tax considerations important in renovation dec ...

If us-based mncs are concerned with how shareholders react

If US-based MNCs are concerned with how shareholders react to changes in consolidated earnings, but prefer not to hedge their translation exposure, how might they attempt to reduce shareholder reaction to a decline in co ...

1 develop a topic of interest to you and prepare both a

1. Develop a topic of interest to you, and prepare both a structured and an unstructured interview. Collect data from your classmates, and develop a method for coding the findings. 2. Create a sampling frame, and collect ...

You are group treasurer of sun and sand plc a uk package

You are Group Treasurer of Sun and Sand plc, a UK package tour operator offering holidays in many parts of the world but specializing in Morocco, Spain and the United States. Sun and Sand is one of the major operators in ...

Instructions bulluse microsoft word 2010 in formulating

Instructions : •Use Microsoft word 2010 in formulating your answers. •Write the answers in your language and avoid copying from the internet. Answer the following questions: 1. What is management? Define it using your ow ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro