Use the following information for Taco Swell, Incorporated, (assume the tax rate is 21 percent): Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes payable Long-term debt Net fixed assets Accounts payable Inventory Dividends Current assets 2020 $ 12,073 1,671 4,029 951 800 Assets 6,082 8,050 1,180 2021 $13,236 4,400 14,300 1,000 1,746 4,717 829 931 6,496 9,457 1,157 20,350 24,661 50,910 54,303 4,674 15,298 1,628 Prepare a balance sheet for this company for 2020 and 2021. (Be sure to list the accounts in order of their liquidity. Do not round intermediate calculations.) TACO SWELL, INCORPORATED Balance Sheet as of December 31 2020 S 2021 85.554
Use the following information for Taco Swell, Incorporated, (assume the tax rate is 21 percent): Sales Depreciation Cost of goods sold Other expenses Interest Cash Accounts receivable Short-term notes payable Long-term debt Net fixed assets Accounts payable Inventory Dividends Current assets 2020 $ 12,073 1,671 4,029 951 800 Assets 6,082 8,050 1,180 2021 $13,236 4,400 14,300 1,000 1,746 4,717 829 931 6,496 9,457 1,157 20,350 24,661 50,910 54,303 4,674 15,298 1,628 Prepare a balance sheet for this company for 2020 and 2021. (Be sure to list the accounts in order of their liquidity. Do not round intermediate calculations.) TACO SWELL, INCORPORATED Balance Sheet as of December 31 2020 S 2021 85.554
Chapter17: Corporations: Introduction And Operating Rules
Section: Chapter Questions
Problem 47P
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