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    Ethan Allen Interiors and Swish Watch Company

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    See attached files for full details of two separate problems.

    For Ethan Allen Interiors and Swish Watch Company, prepare accounting data and interpret results

    © BrainMass Inc. brainmass.com March 4, 2021, 8:51 pm ad1c9bdddf


    Solution Preview

    Please see the attached file

    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
    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 ...

    Solution Summary

    The solution explains the transactions and the financial statements for Ethan Allen Interiors and Swish Watch Company.