The Accountant for Taryn Corporation Prepared the Following List of Account

question 60

Essay

The accountant for Taryn Corporation prepared the following list of account balances from the company's records for the year ended December 31, 2016:
​ $$\begin{array} { l r l r } \text { Sales revenue } & \$ 165,000 & \text { Cash } & \$ 30,000 \\\text { Accounts receivable } & 14,000 & \text { Selling expenses } & 44,000 \\\text { Equipment } & 42,000 & \text { Common stock } & 41,000 \\\text { Accounts payable } & 12,000 & \text { Interest income } & 3,000 \\\text { Salaries and wages expense } & 40,000 & \text { Cost of sales } & 51,000 \\\text { Inventories } & 22,000 & \text { Prepaid expenses } & 2,000 \\\text { Income taxes payable } & 5,000 & \text { Income taxes expense } & 18,000 \\\text { Notes payable } & 20,000 & \text { Retained earnings } & ?\end{array}$$ ​
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-Read the information for Taryn Corporation.Prepare a balance sheet for Taryn Corporation in good form.

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Definitions:

Unique Characteristics

Distinctive attributes or features that set an individual, object, or concept apart from others.

Scientific Management

A theory of management that analyzes and synthesizes workflows, aiming to improve economic efficiency, especially labor productivity, developed by Frederick W. Taylor.

Dehumanized

The process of depriving a person or group of positive human qualities, often leading to the perception of them as less than human.

Informal Networks

Unofficial relationships and channels of communication between individuals within an organization or community.