Need help solving the Balance
Sheet.
Homework Answers
The key to solving the balance sheet lies in understanding the fact that the left-hand side and right-hand side of the balance sheet have equal total values. This essentially implies that Total Assets (Left-Hand Side) = Total Liabilities + Shareholder's Equity (Right-Hand Side).
Total Assets = Total Liabilities + Shareholder's Equity = $ 1123000
Total LIabilities + Shareholder's Equity = 1123000 = Retained Earnings + Contributed Capital + Note Payable + Accounts Payable
1123000 = Retained Earnings + 560000 + 9100 + 13500
Retained Earnings = 1123000 - 560000 - 13500 - 9100 = $ 540400
Cash + Accounts Receivable + Inventory + Equipment = 1123000
Cash + 12000 + 47000 + 974000 = 1123000
Cash = 1123000 - 974000 - 47000 - 12000 = $ 90000
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Need help solving the Balance
Sheet.
Requirement 1. Fil in the missing amounts. Begin by completing...
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Fill in the missing amounts (indicated with question marks). Requirement 1. Fill in the missing amounts. Begin by compl Stingray Company Income Statement For the Year Ended December 31, 2012 Sales.................. $ E N 625,000 Cost of goods sold Gross profit on sales. 265,000 S5 000 Administrative expenses Operating income Interest expense 9,000 76,400 Income tax expense de mine by 65,000 Net income Now fill in the missing amounts on the balance sheet Enter any number in the edit fields...
Hi, I need help with problem 1. If possible both the balance sheet and the income...
Hi, I need help with problem 1.
If possible both the balance sheet and the income statement.
BUT I'm mostly struggling with the income statement calculating
income before taxes.
Thank you
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Fill in the missing amounts (indicated with question marks). Requirement 1. Fill in the missing amounts. Begin by compl Stingray Company Income Statement For the Year Ended December 31, 2012 Sales.................. $ E N 625,000 Cost of goods sold Gross profit on sales. 265,000 S5 000 Administrative expenses Operating income Interest expense 9,000 76,400 Income tax expense de mine by 65,000 Net income Now fill in the missing amounts on the balance sheet Enter any number in the edit fields...
Hi, I need help with problem 1.
If possible both the balance sheet and the income statement.
BUT I'm mostly struggling with the income statement calculating
income before taxes.
Thank you
CHAPTER 16 HOMEWORK PROBLEMS 16-1 Balance Sheet and Income Statement The Wrangle Company had the following items on its December 31, 20X0, balance sheet and 20X0 incom except for number of shares outstanding Cash and equivalents $ 56,000 Revenues 699,000 Notes payable 45,000 Long-term debt, excluding current portion 199,000...
solve for the missing amounts ( no need to make a
excel sheet just state the line # and answer )
t
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