Acc201 financial statements slp

Below find the trial balance for
Nybrostrand Company. Prepare an income statement and balance sheet in good
format based on Formats of Financial Statements (Presentations). 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-14
Trial Balance   (accounts in
alphabetical order)
  Debit Credit
Accounts payable   $ 78,000
Accounts receivable $ 36,500  
Cash 30,000  
Common stock   10,000
Depreciation expense 24,350  
Cost of goods sold 307,000  
Equipment (net of  
depreciation)
415,000  
Insurance 1,400  
Inventory 34,000  
Long-term debt   127,000
Marketing 4,500  
Paid-in capital   50,000
Property taxes 16,900  
Rent 28,000  
Retained earnings   ?
Revenues   586,000
Salaries 78,500  
Utilities 6,700  
     
Total 982,850 982,850


SLP Assignment Expectations

The submission should be 2 to 4
pages and need to include answers to all the questions listed above. Show
computations, discuss the results and include references in APA format.

When your paper is done, send it in.

 

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