Ethan Allen Interiors and Swish Watch Company
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For Ethan Allen Interiors and Swish Watch Company, prepare accounting data and interpret results
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Solution Summary
The solution explains the transactions and the financial statements for Ethan Allen Interiors and Swish Watch Company.
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PA2-2
Part 1
a. Other assets 3,400
Cash 3,400
b. Cash 1,020
Contributed capital 1,020
c. Property, plant, and equipment 11,230
Cash 1,830
Long-term debt 9,400
d. Cash 310
Other assets 310
e. No effect Since only negotiations are conducted and no transaction
Part 2 and 3
Accounts
Cash Receivable Inventories
Beg. 75,688 Beg. 32,845 Beg. 174,147
(b) 1,020 3,400 (a)
(d) 310 1,830 (c)
71,788 32,845 174,147
Prepaid Expenses and Other Current Assets Property, Plant, and Equipment Intangibles
Beg. 36,076 Beg. 293,626 Beg. 69,708
(c) 11,230
36,076 304,856 69,708
Other Assets Accounts Payable Wages and ...
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