Marcus Enterprises began in 2011 when Damien Marcus invested $8,000 in exchange for capital stock. The following is the work sheet for the company at the end of the first year in business.
Marcus Enterprises
Work Sheet
For the Year Ended December 31, 2011
Prepare an income statement, retained earnings statement, and classified balance sheet for Marcus Enterprises for the year ended December 31, 2011.
Definitions:
R&D
Research and Development; activities in connection with corporate or governmental innovation, encompassing the work towards the development of new products or procedures.
Economic Profit
The financial surplus a company has after deducting all types of costs, including visible and hidden, from its gross income.
Existing Technology
The current state of technological development or the sum of the technological innovations available in any given field or society.
Process Innovation
The introduction of a new or significantly improved production or delivery method.
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