Movit Manufacturing has the following alphabetized income statement and balance sheet entries from the year 2016. Construct an income statement and a balance sheet from the information given. Accounts payable Accounts receivable Accrued wages Cash Common shares Contributed capital Cost of goods sold Current assets Current liabilities Deferred income taxes Depreciation expense General expense GICS Income taxes Interest expense $7 500 15 000 2850 2100 150 3000 57 000 2250 750 8100 450 1800 1500
Movit Manufacturing has the following alphabetized income statement and balance sheet entries from the year 2016. Construct an income statement and a balance sheet from the information given. Accounts payable Accounts receivable Accrued wages Cash Common shares Contributed capital Cost of goods sold Current assets Current liabilities Deferred income taxes Depreciation expense General expense GICS Income taxes Interest expense $7 500 15 000 2850 2100 150 3000 57 000 2250 750 8100 450 1800 1500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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please answer do not image .
![Movit Manufacturing has the following alphabetized income statement and balance sheet
entries from the year 2016. Construct an income statement and a balance sheet from the
information given.
Accounts payable
Accounts receivable
Accrued wages
Cash
Common shares
Contributed capital
Cost of goods sold
Current assets
Current liabilities
Deferred income taxes
Depreciation expense
General expense
GICS
Income taxes
Interest expense
Inventories
Land
Less: Accumulated depreciation
Long-term assets
Long-term bonds
Long-term liabilities
Mortgage
Net income after taxes
Net income before taxes
Net plant and equipment
Net sales
Operating expenses
Owners' equity
Prepaid expenses
Selling expenses
Total assets
Total current assets
Total current liabilities
Total expenses
Total liabilities and owners' equity
Total long-term assets
Total long-term liabilities
Total owners' equity
Working capital loan
$7 500
15 000
2850
2100
150
3000
57 000
2250
750
8100
450
1800
1500
18 000
3000
10 950
4350
9450
2700
4500
7500
76 500
450
4650
46 500
36 000
15 000
15 000
46 500
10 500
16 050
15 450
4650](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F04498226-4cc2-421f-bd0f-2925fb905a28%2F867a4ff7-8929-45fc-98ff-3a8c52126a01%2F3afpn9gu_processed.png&w=3840&q=75)
Transcribed Image Text:Movit Manufacturing has the following alphabetized income statement and balance sheet
entries from the year 2016. Construct an income statement and a balance sheet from the
information given.
Accounts payable
Accounts receivable
Accrued wages
Cash
Common shares
Contributed capital
Cost of goods sold
Current assets
Current liabilities
Deferred income taxes
Depreciation expense
General expense
GICS
Income taxes
Interest expense
Inventories
Land
Less: Accumulated depreciation
Long-term assets
Long-term bonds
Long-term liabilities
Mortgage
Net income after taxes
Net income before taxes
Net plant and equipment
Net sales
Operating expenses
Owners' equity
Prepaid expenses
Selling expenses
Total assets
Total current assets
Total current liabilities
Total expenses
Total liabilities and owners' equity
Total long-term assets
Total long-term liabilities
Total owners' equity
Working capital loan
$7 500
15 000
2850
2100
150
3000
57 000
2250
750
8100
450
1800
1500
18 000
3000
10 950
4350
9450
2700
4500
7500
76 500
450
4650
46 500
36 000
15 000
15 000
46 500
10 500
16 050
15 450
4650
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