QRB 501 Week 5 Learning Team Case Studies
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SaiGuruCoolQRB 501 Week 5 Learning Team Case Studies
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SaiGuruCoolComparative Balance Shee
Contemporary Wood Furniture
December 31, 2010 and 2011
1) Assets
Current assets:
Cash
Accounts receivable
Inventory
Plant and equipment
Total assets
Liabilities and owner's equity
Current liabilities:
Accounts payable
Wages payable
Property and taxes payable
Total current liabilities
Long-term liabilities:
Total long-term liabilities
Total liabilities
Owner's equity:
Total owner's equity
Total liabilities and owner's equity
mparative Balance Sheet
Contemporary Wood Furniture
December 31, 2010 and 2011
2011
1,844.00
11,807.00
9,628.00
158,700.00
181,979.00
2010
3,278.00
6,954.00
17,417.00
144,500.00
172,149.00
13,446.00
650.00
4,124.00
18,220.00
9,250.00
1,110.00
3,650.00
14,010.00
$
$
92,800.00
111,020.00
$
$
75,800.00
89,810.00
70,959.00
82,339.00
181,979.00
172,149.00
Assets
6.36
ACID TEST RATIO 0.26
CURRENT RATIO
4000
85,000.00
15,000.00
6,000.00
120,000.00
15,000.00
Cash
Cost of goods sold
Merchandise inventory
Accounts Receivable
Net sales
Equipment
$
$
$
$
$
Total Current Assets
$ 245,000.00
Liabilities
Depreciation
Rent expense
Utilities
Accounts payable
Wages payable
Miscellaneous expenses
Insurance payable
Wages
$
$
$
$
$
$
$
$
2,000.00
15,000.00
6,500.00
3,500.00
1,500.00
1,500.00
500.00
8,000.00
Total Liabilities
38,500.00
Carlton, Equity
34,500.00
Total Owner equity
34,500.00
Owner's equity
