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    Red-Bearded Baron Solution

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    Prantik Ray
    The document contains balance sheets and income statements for farmers Ivan and Igor. Ivan started with 162 bushels of wheat and ended with 223 bushels after expenses of fertilizer, wheat seeds, ox and plow depreciation and a profit of 214 bushels. Igor started with 101 bushels and ended with 193 bushels after similar expenses and a profit of 122 bushels. Both farmers grew their assets and equity over the period through production and profits from farming activities.

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    Red-Bearded Baron Solution

    Uploaded by

    Prantik Ray
    4K views2 pages
    The document contains balance sheets and income statements for farmers Ivan and Igor. Ivan started with 162 bushels of wheat and ended with 223 bushels after expenses of fertilizer, wheat seeds, ox and plow depreciation and a profit of 214 bushels. Igor started with 101 bushels and ended with 193 bushels after similar expenses and a profit of 122 bushels. Both farmers grew their assets and equity over the period through production and profits from farming activities.

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    The document contains balance sheets and income statements for farmers Ivan and Igor. Ivan started with 162 bushels of wheat and ended with 223 bushels after expenses of fertilizer, wheat seeds, ox and plow depreciation and a profit of 214 bushels. Igor started with 101 bushels and ended with 193 bushels after similar expenses and a profit of 122 bushels. Both farmers grew their assets and equity over the period through production and profits from farming activities.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    4K views2 pages

    Red-Bearded Baron Solution

    Uploaded by

    Prantik Ray
    The document contains balance sheets and income statements for farmers Ivan and Igor. Ivan started with 162 bushels of wheat and ended with 223 bushels after expenses of fertilizer, wheat seeds, ox and plow depreciation and a profit of 214 bushels. Igor started with 101 bushels and ended with 193 bushels after similar expenses and a profit of 122 bushels. Both farmers grew their assets and equity over the period through production and profits from farming activities.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Case: Red Bearded Baron B/S at the Beginning for Ivan

    Liabilities Equity

    Bushels of Wheat 162

    Assets Land Oxen Current Assets: Wheat 20 Fertiliser 2 Total

    Bushels of Wheat 100 40

    22 162

    Total

    162

    Income Statement for Ivan Expenses Fertiliser Wheat Seeds Depreciation of Ox Depreciation of plow Profit Total Bushels of Wheat 2 20 4 3 214 243 Total 243 Income Production Bushels of Wheat 243

    B/S at the end for Ivan Liabilities Equity 162 Less: Drawings 20 Profit Plow makers debt Bushels of Wheat 142 214 Assets Land Oxen 40 Less: Depreciation 4 Current Assets: Wheat Total Bushels of Wheat 100 36

    223 359

    Total

    359

    B/S at the Beginning for Igor

    Liabilities Equity

    Bushels of Wheat 101

    Assets Land Oxen Current Assets: Wheat 10 Fertiliser 1 Total

    Bushels of Wheat 50 40

    11 101

    Total

    101

    Income Statement for Igor Expenses Fertiliser Wheat Seeds Depreciation of Ox Depreciation of plow Profit Total Bushels of Wheat 1 10 4 1 122 138 Total 138 Income Production Bushels of Wheat 138

    B/S at the end for Igor Liabilities Equity 101 Less: Drawings30 Profit Bushels of Wheat 71 122 Assets Land Oxen 40 Less: Depreciation 4 Plow 3 Less: Depreciation 1 Current Assets: Wheat Total Bushels of Wheat 50 36

    105 193

    Total

    193

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