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Written by:
Ann S
Date added:
June 23, 2015
Level:
University
Grade:
A
No of pages / words:
3 / 758
Was viewed:
9969 times
Rating of current essay:
Essay content:
The company sold its product for $22 each.
As of December 31, Rinehart had been producing ?°Puzzler?± for three months using rented facilities. The balance sheet on that date was as follows:
Balance Sheet
As of December 31
Assets
Cash $ 58,500
Accounts receivable 27,500
Inventory 14,000
$100,000
Equities
Common Stock $100,000
Retained earnings 0
$100,000
Rinehart was very pleased to be operating at a profit in such a short time...
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December sales had been 750 units, up from 500 in November, enough to report a profit for the month and to eliminate the deficit accumulated in October and November. Sales were expected to be 1,000 units in January, and Rinehart??s projections showed sales increases of 500 units per month after that...
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