September 2023 Additional information added in module 2 One client had indicated that they were interested in purchasing
2024 Balance Sheet-2 Assignment Help
Additional information added in module 2 One client had indicated that they were interested in purchasing 2023
Additional information added in module 2 One client had indicated that they were interested in purchasing $42,500 worth of products. However, the client has not actually committed to the purchase. The bookkeeper already corrected the sales account. However, the bookkeeper may have made a mistake when computing cost of goods sold. She included total production costs for 2014 and did not adjust ending inventory for the $42,500 worth of units left at the end of the year. The amount of ending inventory was determined using a physical count. Additional information for module 3 The company made a secondary offering of stock and raised an additional $180,000 which includes $150,000 of Paid-in Capital. The company had already paid $15,000 in dividends before deciding on the offering. The company now has cash to invest in a piece of raw land on which to build in the future. The investment takes place before year end. The cost of the land is $400,000, the down payment is $40,000 and a note to the bank covers the rest. Nybrostrand Company 31-Dec-14 Trial Balance (accounts in alphabetical order) Debit Credit Accounts payable $ 78,000 Accounts receivable $ 36,500 Cash 30,000 Common stock 10,000 Depreciation expense 24,350 Cost of goods sold 307,000 Equipment (net of depreciation) 415,000 Insurance 1,400 Inventory 34,000 Long-term debt 127,000 Marketing 4,500 Paid-in capital 50,000 Property taxes 16,900 Rent 28,000 Retained earnings ? Revenues 586,000 Salaries 78,500 Utilities 6,700 Total 982,850 982,850 Homework answers needed Prepare a balance sheet for the company in good format. Update the balance sheet for the changes to income in module 2 and also consider the effect of paying the dividend. You do not need to include the income statement. The submission should be at least 2 pages and need to include answers to all the questions listed above. Show computations, discuss the results and include references in APA format
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