29 Jun HR Payroll Outsource
Question
Kudler Fine Foods
Balance Sheet
December 31, 2003
Assets
Current Assets:
Cash
$1,430,000
Accounts Receivable
$86,000
Less: Reserve for Bad Debts
$0
$86,000
$86,000
Merchandise Inventory
$429,000
Prepaid Expenses
$26,000
Notes Receivable
$0
Total Current Assets
$1,971,000
$1,971,000
Fixed Assets:
Vehicles
$63,000
Less: Accumulated Depreciation
$27,750
$35,250
$35,250
Furniture and Fixtures
$435,000
Less: Accumulated Depreciation
$186,000
$249,000
$249,000
Equipment
$634,000
Less: Accumulated Depreciation
$214,000
$420,000
$420,000
Total Fixed Assets
$704,250
$704,250
Other Assets:
Goodwill
$0
Total Other Assets
$0
$0
Total Assets
$2,675,250
Liabilities and Capital
Current Liabilities:
Accounts Payable
$96,500
Sales Tax Payable
$3,950
Payroll Taxes Payable
$15,840
Accrued Wages Payable
$0
Unearned Revenues
$0
Short-Term Notes Payable
$0
Short Term Bank Loan Payable
$0
Total Current Liabilities
$116,290
$116,290
Long Term Liabilities:
Long-Term Notes Payable
$630,000
Total Long Term Liabilities
$630,000
$630,000
Total Liabilities
$746,290
$746,290
Capital:
Owner’s Equity
$746,290
Net Profit
$1,182,670
Total Capital
$1,928,960
$1,928,960
Total Liabilities and Capital
$2,675,250
Income Statement PDF Version
Kudler Fine Foods
Income Statement
For the Year Ended December 31, 2003
Revenue:
Gross Sales
$10,804,000
Less: Sales Returns and Allowances
$7,800
Net Sales
$10,796,200
Costs of Goods Sold:
Beginning Inventory
$467,890
Add:
Purchases
$3,752,891
Freight In
$165,010
Direct Labor
$3,769,591
Indirect Expenses
$748,539
$8,903,921
Less: Ending Inventory
$429,090
Cost of Goods Sold
$8,474,831
$8,474,831
Gross Profit(Loss)
$2,321,369
Expenses:
Advertising
$263,000
Amortization
$2,700
Bad Debts
$2,300
Bank Charges
$19,258
Charitable Contributions
$5,000
Bonuses
$65,000
Systems & Network Contract
$82,000
Credit Card Fees
$125
HR Payroll Outsource
$8,500
Depreciation
$27,750
Dues and Subscriptions
$29,403
Insurance
$65,000
Custodial Contract
$48,000
Interest
$63,768
Maintenance Contract
$36,000
Miscellaneous
$1,100
Office Expenses
$8,300
Operating Supplies
$5,500
Software Licenses
$8,200
Permits and Licenses
$3,500
Postage
$46,000
Professional Fees
$32,157
Office Lease
$63,000
Repairs
$850
Telephone
$16,500
Travel
$4,500
Utilities
$7,900
Vehicle Expenses
$11,458
Wages
$725,650
Total Expenses
$1,652,49
$1,652,49
Net Operating Income
$668,950
Other Income:
Gain (Loss) on Sale of Assets
$0
Interest Income
$7,845
Total Other Income
$7,845
$7,845
Net Income (Loss)
$676,795
Prepare Vertical analysis of Income statement and Balance sheet.
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.