A list of accounts for Maple Inc. at 12/31/2017 follows: Accounts Receivable $2,359 Advertising Expense 4,510 Buildings...

3.8 Ratings (446 Votes)

Maple Inc.

Balance Sheet

as at December 31, 2017

Current Assets
Cash	590
Accounts Receivable	2359
Interest Receivable	100
Inventory	7500
Total Current Assets	10549

Non - Current Assets
Land	20000
Building and Equipment	55550
Total Assets	86099

Liabilities
Salaries Payable	650
Income Tax Payable	3200
Total Liabilities	3850

Stockholders' Equity
Capital Stock	50000
Retained Earnings ( 32550 - 301)	32249
Total Stockholders' Equity	32349
Total Liabilities and Stockholders' Equity	86099

Calculation showing profit for the year ended December 31, 2017.

Net Sales	83584
Add : Ending Inventory	7500
Less : Net Purchases	(39400)
Less : Beginning inventory	(6400)
Less : Salaries Expense	(25600)
Less : Transportation	(375)
Less : Advertising Expense	(4510)
Less : Utility Expense	(3600)
Less : Depreciation	(2300)
Less : Income Tax Expense	(3200)
Less : Dividend	(6000)
Profit / (Loss) (Carried to retained earnings)	(301)

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