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    YVONNE Merchandising

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    Yvonne Merchandising's current assets increased from $393,500 in 2017 to $433,000 in 2018, while its non-current assets remained the same at $2,000,000. Its total assets grew from $2,006,000 to $2,433,000. Its current liabilities increased from $147,000 to $168,500 while its non-current liabilities remained the same at $500,000. Yvonne's owner's equity grew from $1,359,000 to $1,764,500. Its sales increased from $1,457,500 to $1,635,000 while its operating income grew from $230,000 to $300

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    YVONNE Merchandising

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    art
    529 views1 page
    Yvonne Merchandising's current assets increased from $393,500 in 2017 to $433,000 in 2018, while its non-current assets remained the same at $2,000,000. Its total assets grew from $2,006,000 to $2,433,000. Its current liabilities increased from $147,000 to $168,500 while its non-current liabilities remained the same at $500,000. Yvonne's owner's equity grew from $1,359,000 to $1,764,500. Its sales increased from $1,457,500 to $1,635,000 while its operating income grew from $230,000 to $300

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    Introduction to Accounting

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    YVONNE-Merchandising

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    Yvonne Merchandising's current assets increased from $393,500 in 2017 to $433,000 in 2018, while its non-current assets remained the same at $2,000,000. Its total assets grew from $2,006,000 to $2,433,000. Its current liabilities increased from $147,000 to $168,500 while its non-current liabilities remained the same at $500,000. Yvonne's owner's equity grew from $1,359,000 to $1,764,500. Its sales increased from $1,457,500 to $1,635,000 while its operating income grew from $230,000 to $300

    Copyright:

    © All Rights Reserved
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    Download as docx, pdf, or txt
    529 views1 page

    YVONNE Merchandising

    Uploaded by

    art
    Yvonne Merchandising's current assets increased from $393,500 in 2017 to $433,000 in 2018, while its non-current assets remained the same at $2,000,000. Its total assets grew from $2,006,000 to $2,433,000. Its current liabilities increased from $147,000 to $168,500 while its non-current liabilities remained the same at $500,000. Yvonne's owner's equity grew from $1,359,000 to $1,764,500. Its sales increased from $1,457,500 to $1,635,000 while its operating income grew from $230,000 to $300

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    of 1

    YVONNE Merchandising

    Comparative Statement of Financial Position


    December 31,2017 and 2018

    2018 2017
    Current Assets
    Cash and Cash Equivalents 7,500 10,000
    Trade and other Receivables 113,500 138,000
    Inventory 302,000 238,000
    Prepaid Expenses 10,000 7,500
    Total Current Assets 433,000 393,500
    Non- Current Assets
    Property, plant and equipment 1,500,000 1,112,500
    Investment in stocks 500,000 500,000
    Total Non- Current Assets 2,000,000 2,000,000
    Total Assets 2,433,000 2,006,000

    Current Liabilities
    Trade and other payables 118,500 104,500
    Other Current Liabilities 50,000 42,500
    Total Current Liabilities 168,500 147,000
    Non- Current Liabilities
    Bonds Payable 500,000 500,000
    Total Liabilities 668,500 647,000

    Owner`s equity
    Yvone, Capital 1,764,500 1,359,000
    Total Liabilities and Owners Equity 2,433,000 2,006,000

    YVONNE Merchandising
    Comparative Statement of Comprehensive Income
    December 31, 2017 and 2018

    Sales 1,635,000 1,457,500


    Expenses
    Cost of Sales 1,050,000 950,000
    Selling Expenses 185,000 170,000
    Administrative Expenses 100,000 107,500
    Total 1,335,000 1,227,500
    Operating Income 300,000 230,000
    Interest Expense 50,000 50,000
    Income before tax 250,000 180,000
    Income Tax – 30% 75,000 54,000
    Income After Tax 175,000 126,000

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