Bus 500 module 2 slp

Module 2 – SLP

BALANCE SHEET

Below furnish a weigh quibble coercion VWV Company. 

VWV Company

 

Weigh Quibble

 

 December 31, 20XX

 

 

 

 

 

 

 

 

 

Assets

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

Vulgar proceeds

 

 

 

Vulgar liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Cash

 $72,000

 

 

Accounts payable

 $12,000

 

 

Accounts receivable

 18,000

 

 

Interest payable

 12,000

 

 

Interest receivable

 1,000

 

 

 

 

 

 

Inventory

 60,000

 

 

 

 

 

Entirety vulgar proceeds

 

 $151,000

 

Entirety vulgar liabilities

 

 $24,000

 

 

 

 

 

 

 

 

 

Long-term proceeds

 

 

 

Long-term liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Equipment (cajole of deterioration)

 $128,000

 

 

Note payable

 100,000

 

 

 

 

 

 

 

 

 

Entirety long-term proceeds

 

 $128,000

 

Entirety long-term liabilities

 

 $100,000

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity

 

 

 

 

 

 

 

 

Common stock

 10,000

 

 

 

 

 

 

Paid-in capital

 50,000

 

 

 

 

 

 

Retained earnings

 95,000

 

 

 

 

 

 

 

 

 

 

 

 

 

Entirety equity

 

 $155,000

 

 

 

 

 

 

 

Entirety proceeds

 

279,000

 

Entirety liabilities and equity

 

 $279,000

                           

Required: 

Recreate the weigh quibble in an Excel spreadsheet. Use cell coercionmulae to appobject and take quantity. Appobject a shaft next to the weigh quibble coercion answers to the questions in this subject.

  • Is accounts payable larger or smaller than accounts receivable? What is the distinction? What do the quantity point-out? Explain.
  • What does equipment cajole of deterioration average?
  • Are payables short-term or long-term?
  • Determine entirety liabilities.
  • Determine net short-term proceeds or liabilities.
  • Determine the entirety equality appropriate by VWV appropriate at the object of the year.
  • How do we recognize that the overhead is a municipal (not attributable a unique owner) weigh quibble?
  • Both gratified and gift subject.

SLP Assignment Expectations

Submit the Excel spreadsheet. All counsel should be sever of the spreadsheet. Written comments should be illiberal and point to the weigh quibble.

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