Compute the missing amounts, and complete the statements of the Darius Co (Hint: Complete the Income Statement first)
DARIUS COMPANY
BALANCE SHEET
AS OF DECEMBER 31, 2016
Cash ? Current Liabilities ?
Accounts
Receivable (Net) ? 6.08% Long-Term
Bonds Payable 3,700,000
Inventory ? Common Stock 1,755,856
PPE (Net) ? Retained Earnings ?
Total Assets 8,300,000 Total Liabilities and
Stockholders' Equity ?
The following information is available about Darius Company's financial statements:
1. The Accounts Receivable Collection Period (DRO) is 38.78 Days
2. The Days Inventory Outstanding (DIO) is 50.12 Days
3. The Current Ratio for the firm is 3.78
4. The Net Profit Margin for the firm is 12.78%
5. The Gross Profit Margin for the firm is 39.5%
6. The Return on Common Equity for the firm is 16.65%
7. The Income Tax Rate for the firm is 25.7%

1tanner invested $135,000 cash along with office equipment valued at $32,400 in the company in exchange for common stock. 2 the company prepaid $7,200 cash for 12 months’ rent for office space. (hint: debit prepaid rent for $7,200.) 3 the company made credit purchases for $16,200 in office equipment and $3,240 in office supplies. payment is due within 10 days. 6 the company completed services for a client and immediately received $2,000 cash. 9 the company completed a $10,800 project for a client, who must pay within 30 days. 13 the company paid $19,440 cash to settle the account payable created on april 3. 19 the company paid $6,000 cash for the premium on a 12-month insurance policy. (hint: debit prepaid insurance for $6,000.) 22 the company received $8,640 cash as partial payment for the work completed on april 9. 25 the company completed work for another client for $2,640 on credit. 28 the company paid $6,200 cash in dividends. 29 the company purchased $1,080 of additional office supplies on credit. 30 the company paid $700 cash for this month’s utility bill. prepare general journal entries to record these transactions. 2. post the journal entries from part 1 to the ledger accounts.

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