FAC1 – Here is the list of accounts of Extase Inc.
Scenario #1: Financial statements and ratios Here is the list of accounts of Extase Inc. as at September 30, 2012: Accumulated Depreciation – trucks and equipment $31,000 Wages 84,100 Taxes payable 2,800 Land 63,000 Fringe benefits payable 5,400 Receivables 16,400 Sales 367,800 Dividends payable 5,500 Depreciation Expense 26,700 Cost of sales 161,600 Insurance Expense 11,200 Share capital as at October 1, 2011 200,000 Administrative expenses 31,100 Mortgage payable 114,000 Bank loan 21,800 Dividends declared 11,000 Accumulated amortization – building 63,000 Cash 18,000 Income taxes 6,900 Inventories 68,000 Prepaid insurance 2,400 Retained earnings as at October 1, 2011 92,800 Payables 41,000 Finance expense 15,100 Building 243,000 Trucks and equipment 182,500 Wages payable 4,100 Other expenses 8,200 Assignment: Prepare an Income…
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