ACC201 Final Project Current year: Current year: Sa

Jul 25th, 2016
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ACC201 Final Project Current year: Current year: Sales 540,000 Operating expenses 229,000 Inventory purchases 162,000 Cash 33,000 Sales and marketing expenses 49,000 Prepaid expenses 9,000 Accounts receivable 23,000 Note payable - current 10,000 Accumulated depreciation 23,000 Administrative expenses 60,000 Accrued expenses 5,000 Common stock 50,000 Interest expense 5,000 Equipment 108,000 Inventory - current year 25,000 Accounts payable 13,000 Dividends none Long-term note payable 45,000 Shares outstanding 50,000 Supplies 11,000 Prior year: Accounts receivable 18,000 Inventory 23,000 Beginning inventory Total assets 174,000 Common stock 50,000 Goods available Retained earnings 26,000 Shares outstanding 50,000 Cost of

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ACC201Final ProjectCurrent year:SalesInventory purchasesSales and marketing expensesAccounts receivableAccumulated depreciationAccrued expensesInterest expenseInventory - current yearDividendsShares outstanding540,000162,00049,00023,00023,0005,0005,00025,000none50,000Prior year:Accounts receivableInventoryTotal assetsCommon stockRetained earningsShares outstanding18,00023,000174,00050,00026,00050,000Current year:Operating expensesCashPrepaid expensesNote payable - currentAdministrative expensesCommon stockEquipmentAccounts payableLong-term note payableSuppliesBeginning inventoryGoods availableCost of goods soldThe Coffee HutBalance SheetThe Coffee HutIncome StatementCurrentCurrent assets:CurrentRevenue:Gross profitExpenses:Total current assetsProperty, plant and equipment:Net equipmentTotal assets229,00033,0009,00010,00060,00050,000108,00013,00045,00011,000Total expensesOperating incomeOther expenses:Net incomeCurrent liabilities:Total current liabilitiesLong-term liabilities:Total liabilitiesStockholders' equity:Total stockholders' equityTotal liabilities and equityRatioCurrent ratioQuick ratioAccounts receivable turnoverInventory turnoverDebt to assetsDebt to equityReturn on salesAsset turnoverReturn on investmentReturn on equityEarnings per shareAnalysisIf cost of goods sold is the only variable cost, and the contribution marginper drink was $3.40, how m

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