The comparative financial statements for Halley Company for 2018 and 2019
The comparative financial statements for Halley Company for 2018 and 2019 are presented below. Halley Company Comparative Balance Sheets For years ended 2018 and 2019 June 30 2019 June 30 2018 Assets $ $ Cash 53,000 52,000 Accounts receivable 106,000 93,000 Inventory 162,000 151,000 Land 300,000 300,000 Buildings and equipment (at cost) 845,000 790,000 Less: Accumulated depreciation (514,000) (460,000) Total Assets 952,000 926 Liabilities and Share Equity Accounts payable 141,000 136,000 Interest payable 8,000 10,000 Mortgage payable 109,000 120,000 Share capital 520,000 520,000 Retained earnings 174,000 140,000 Total Liabilities and Share Equity 952,000 926,000 Halley Company Statement of Profit and Loss for the year 2019 $ $ Sales revenue 1,200,000 Cost of goods sold (788000.00) Gross profit 412000.00 Other expenses:…
Details