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Using the following information provided below prepare a statement of retained earnings of Nanaimo Hotels Inc. as of November 30, 2020, and a classified balance sheet for the year ending November 30, 2020. Cash Accumulated depreciation, Furniture, and equipment Notes payable (short-term) Accounts payable Allowance for doubtful accounts Customers' deposits Common shares Sales General and admin. Expenses Interest expense Departmental expenses Income tax expense $6,000 6,000 Short-term investments Food inventory Accounts receivables Beverage inventory Prepaid expenses Furniture and equipment |China, glassware, and uniforms Franchises Long-term receivables Retained Earnings (2019) 10,000 12,000 4,000 7,000 2,000 40,000 2,000 6,000 8,000 20,000 20,000 8,000 2,000 1,000 23,000 120,000 56,000 2,000 40,000 6,600 Note: The company declared $5,000 dividends for 2020.

Using the following information provided below prepare a statement of retained earnings of Nanaimo Hotels Inc. as of November 30, 2020, and a classified balance sheet for the year ending November 30, 2020. Cash Accumulated depreciation, Furniture, and equipment Notes payable (short-term) Accounts payable Allowance for doubtful accounts Customers' deposits Common shares Sales General and admin. Expenses Interest expense Departmental expenses Income tax expense $6,000 6,000 Short-term investments Food inventory Accounts receivables Beverage inventory Prepaid expenses Furniture and equipment |China, glassware, and uniforms Franchises Long-term receivables Retained Earnings (2019) 10,000 12,000 4,000 7,000 2,000 40,000 2,000 6,000 8,000 20,000 20,000 8,000 2,000 1,000 23,000 120,000 56,000 2,000 40,000 6,600 Note: The company declared $5,000 dividends for 2020.

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 13P: Comprehensive The following are Farrell Corporations balance sheets as of December 31, 2019, and...
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Using the following information provided below prepare a statement of retained earnings of Nanaimo Hotels Inc. as of November 30, 2020, and a classified balance sheet for the year ending November 30, 2020. Accumulated depreciation, Furniture, and equipment Notes payable (short-term) Accounts payable Allowance for doubtful accounts Customers' deposits Common shares Sales General and admin. Expenses Interest expense Departmental expenses Income tax expense Cash $6,000 6,000 Short-term investments Food inventory Accounts receivables Beverage inventory Prepaid expenses Furniture and equipment China, glassware, and uniforms Franchises Long-term receivables Retained Earnings (2019) 10,000 12,000 4,000 7,000 2,000 40,000 2,000 6,000 8,000 20,000 20,000 8,000 2,000 1,000 23,000 120,000 56,000 2,000 40,000 6,600 Note: The company declared $5,000 dividends for 2020.
Transcribed Image Text:Using the following information provided below prepare a statement of retained earnings of Nanaimo Hotels Inc. as of November 30, 2020, and a classified balance sheet for the year ending November 30, 2020. Accumulated depreciation, Furniture, and equipment Notes payable (short-term) Accounts payable Allowance for doubtful accounts Customers' deposits Common shares Sales General and admin. Expenses Interest expense Departmental expenses Income tax expense Cash $6,000 6,000 Short-term investments Food inventory Accounts receivables Beverage inventory Prepaid expenses Furniture and equipment China, glassware, and uniforms Franchises Long-term receivables Retained Earnings (2019) 10,000 12,000 4,000 7,000 2,000 40,000 2,000 6,000 8,000 20,000 20,000 8,000 2,000 1,000 23,000 120,000 56,000 2,000 40,000 6,600 Note: The company declared $5,000 dividends for 2020.
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