Please help me 2018 year-end values for Bert CompanyAccounts payableAccount receivable1260Cash865Common Stock8800Cost of goods soldDepreciation expense46731590Net property Plant & Equipment16085Interest Expense312Inventory2888Long-Term DebtShort-Term Notes Payable5000300Retained Earnings2377Sales Revenue19385SG&A Expense26002018 Tax Rate21%Net working Capital @ 2018 year$392Rention ratio70%A. Prepare the 2018 balance sheet, income statement and statement of retained earnings.Insert sub-totals/totals (total currnet and assets etc.)

Income statement shows profit earned or loss incurred by a corporation during an accounting year.

Short-Term Notes Payable 300 Retained Earnings 2377 Sales Revenue 19385 SG&A Expense 2600 2018 Tax Rate 21% Net working Capital @ 2018 year $392 Rention ratio 70% A. Prepare the 2018 balance sheet, income statement and statement of retained earnings. Insert sub-totals/totals (total currnet and assets etc.)

Short-Term Notes Payable 300 Retained Earnings 2377 Sales Revenue 19385 SG&A Expense 2600 2018 Tax Rate 21% Net working Capital @ 2018 year $392 Rention ratio 70% A. Prepare the 2018 balance sheet, income statement and statement of retained earnings. Insert sub-totals/totals (total currnet and assets etc.)

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 53BE

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Recording Various Liabilities Plymouth Electronics had the following transactions that produced liabilities during 2020: a. Purchased merchandise on credit for $80,000. ( Note: Assume a periodic inventory system.) Year-end wages of $40,000 were incurred, but not paid. Related federal income taxes of $13,000 and Medicare taxes of $580 were withheld. Employee wages are all above the Social Security maximum, so only Medicare was paid. b. Year-end estimated income taxes payable, but unpaid, for the year were $113,615. c. Sold merchandise on account for $3,636, including state sales taxes of $180. ( Note: Assume a periodic inventory system.) d. Employers share of Medicare taxes for the period was $580. The taxes will be paid at a later date. e. Borrowed cash under a 180-day, 8%, $155,000 note. Required: Prepare the entry to record each of these transactions (treat each transaction independently).
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