QUESTION 1 Prepare a balance sheet for Mullen’s Hardware for December 31 of last year. The company assets are cash $15,000, accounts receivable $21,000, and

QUESTION 1 Prepare a balance sheet for Mullen’s Hardware for December 31 of last year. The company assets are cash $15,000, accounts receivable $21,000, and merchandise inventory $95,000. The liabilities are accounts payable $12,000 and wages payable $17,000. The owner’s capital is $102,000. Mullen’s Hardware Balance Sheet Mullen’s Hardware Balance Sheet Mullen’s Hardware Balance Sheet Mullen’s Hardware Balance Sheet 10 points QUESTION 2 Complete a vertical analysis on the balance sheet for Mullen’s Hardware for December 31 of last year. The company assets are cash $11,000, accounts receivable $40,000, and merchandise inventory $96,000. The liabilities are accounts payable $19,000 and wages payable $25,000. The owner’s capital is $103,000. Mullen’s Hardware Balance Sheet Mullen’s Hardware Balance Sheet Mullen’s Hardware Balance Sheet Mullen’s Hardware Balance Sheet 10 points QUESTION 3 Complete a vertical analysis  on the balance sheet for Jake’s Janitorial Service for December 31 of last year. The company assets are cash $20,000, accounts receivable $48,000, merchandise inventory $89,000, and equipment $82,000. The liabilities are accounts payable $13,000, wages payable $16,000, and mortgage note payable $77,000. The owner’s capital is $133,000. Jake’s Janitorial Service Balance Sheet Jake’s Janitorial Service Balance Sheet Jake’s Janitorial Service Balance Sheet Jake’s Janitorial Service Balance Sheet 10 points QUESTION 4 For the month ending June 30, TriCounty Nursery has net sales of $251,000, cost of goods sold of $99,000, and operating expenses of $70,000. Find the gross profit and net income. gross profit: $152,000; net income: $82,000 gross profit: $72,100; net income: $29,000 gross profit: $82,000; net income: $152,000 gross profit: $152,000; net income: $29,000 10 points QUESTION 5 For the month ending December 31, MidState Machinery had gross sales of $4,207,000, returns of $68,800, cost of beginning inventory $502,000, cost of purchases $1,484,000, cost of ending inventory $570,000, total operating expenses $135,900. Find the net sales and cost of goods sold. net sales: $4,207,000; cost of goods sold: $1,416,000 net sales: $4,138,200; cost of goods sold: $1,416,000 net sales: $4,138,200; cost of goods sold: $135,900 net sales: $4,138,200; cost of goods sold: $2,716,300 10 points QUESTION 6 The Garden Shop had a cost of goods sold of $108,000, operating expenses of $49,000, and net sales of $272,000. Find the cost of goods sold percent of net sales and operating expenses percent of net sales. cost of goods sold percent of net sales: 39.7%, operating expenses percent of net sales: 21.7% cost of goods sold percent of net sales: 21.7%, operating expenses percent of net sales: 39.7% cost of goods sold percent of net sales: 18.0%, operating expenses percent of net sales: 39.7% cost of goods sold percent of net sales: 39.7%, operating expenses percent of net sales: 18.0% 10 points QUESTION 7 Speedy Cleaning Service had a cost of beginning inventory of $40,000, net sales of $222,000, and gross sales of $401,000. Find the beginning inventory percent of net sales and gross sales percent of net sales. beginning inventory percent of net sales: 180.6%, gross sales percent of net sales: 18.0% beginning inventory percent of net sales: 18.0%, gross sales percent of net sales: 180.6% beginning inventory percent of net sales: 65.3%, gross sales percent of net sales: 18.0% beginning inventory percent of net sales: 18.0%, gross sales percent of net sales: 65.3% 10 points QUESTION 8 Find the percent increase (or decrease) in net sales from last year to this year for the income statement. 10.6% decrease Purchase the answer to view it

Need your ASSIGNMENT done? Use our paper writing service to score better and meet your deadline.


Click Here to Make an Order Click Here to Hire a Writer