Presented below is selected information related to Garryowen Company at December 31, 2015. Garryowen 1 answer below »
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Presented below is selected information related to Garryowen Company at December 31, 2015. Garryowen reports financial information monthly. Accounts Payable ………. $ 3,000 Cash ……………. 9,000 Advertising Expense …….. 6,000 Service Revenue ……….. 54,000 Equipment ………… 29,000 Salaries and Wages Expense ….. $16,500 Notes Payable ………… 25,000 Rent Expense ……….. 9,800 Accounts Receivable …….. 13,500 Dividends ………… 7,500 (a) Determine the total assets of Garryowen Company at December 31, 2015. (b) Determine the net income that Garryowen Company reported for December 2015. (c) Determine the stockholders’ equity of Garryowen Company at December 31, 2015.
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