How do I find net income?
Homework Answers
| NETTLE DISTRIBUTION | |||
| BALANCE SHEET | |||
| DECEMBER 31, 2017 | |||
| ASSETS | LIABILITIES | ||
| Cash | $ 9,307 | Accounts Payable | $ 36,156 |
| Accounts Receivable | $ 21,740 | Note Payable | $ 118,860 |
| Office Supplies | $ 3,204 | ||
| Office equipment | $ 143,024 | EQUITY | |
| Trucks | $ 61,542 | Total Equity | $ 302,661 |
| Building | $ 175,153 | ||
| Land | $ 43,707 | ||
| Total Assets | $ 457,677 | Total Liabilities & Equity | $ 457,677 |
Net Income for 2017 = Equity Ending balance - Opening Equity Balance - Owners Additional Investment + Owners Withdrawl
= $302,661 - $197,100 - $34,000 + $45,600 = $117,161.
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How do I find net income?
Answer is complete and correct. NETTLE DISTRIBUTION Balance Sheet December...
Required information [The following information applies to the questions displayed below.] The accounting records of Nettle...
Required information [The following information applies to the questions displayed below.] The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2018 and 2019. December 31 2018 2019 Cash $ 51,084 $ 9,307 Accounts receivable 27,729 21,740 Office supplies 4,374 3,204 Office equipment 134,271 143,024 Trucks 52,542 61,542 Building 0 175,153 Land 0 43,707 Accounts payable 72,900 36,156 Note payable 0 118,860 Compute net income for 2019 by comparing total equity amounts for these...
Required information [The following information applies to the questions displayed below.] The accounting records of Nettle...
Required information [The following information applies to the questions displayed below.] The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2018 and 2019. December 31 2018 2019 Cash $ 51,084 $ 9,307 Accounts receivable 27,729 21,740 Office supplies 4,374 3,204 Office equipment 134,271 143,024 Trucks 52,542 61,542 Building 0 175,153 Land 0 43,707 Accounts payable 72,900 36,156 Note payable 0 118,860 Required: 1. Prepare balance sheets for the business as of December 31,...
The accounting records of Nettle Distribution show the following assets and liabilities as of December 31,...
The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2016 and 2017 December 31 2016 2017 43,516 $6,595 18,519 2,729 114,379 121,835 53,758 0 149,204 37,233 30,800 86,437 Cash Accounts receivable 23,621 3,726 Office supplies Office equipment Trucks Building Land Accounts payable Note payable 44,758 62,100 NETTLE DISTRIBUTION Balance Sheet December 31, 2016 Assets Liabilities Equity Total equity Total assets 0 Total liabilities and equity NETTLE DISTRIBUTION Balance Sheet December 31, 2016 Assets...
The accounting records of Nettle Distribution show the following assets and liabilities as of December 31,...
The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2016 and 2017. December 31 2016 2017 Cash $ 48,057 $ 8,222 Accounts receivable 26,086 20,451 Office supplies 4,115 3,014 Office equipment 126,314 134,548 Trucks 49,428 58,428 Building 0 164,773 Land 0 41,119 Accounts payable 68,580 34,014 Note payable 0 105,892 Compute net income for 2017 by comparing total equity amounts for these two years and using the following information: During 2017, the owner...
The accounting records of Nettle Distribution show the following assets and liabl liabltiles as of December...
The accounting records of Nettle Distribution show the following assets and liabl liabltiles as of December 31, 2016 and 2017. December 31201 017 Cash Accounts receivable Office supplies s 55,857 10,731 23,431 3,453 154,148 56,629 65,629 e 188,776 e 47,186 38,969 135,882 29,886 4, 714 Office equipment144,714 Part 2 of 3 Trucks Building 0.41 points Land Accounts payable Note payable 78,570 0250:313 2. Compute net income for 2017 by comparing total equity amounts for these two years and using the...
Required information The following information applies to the questions displayed below. The accounting records of Nettle...
Required information The following information applies to the questions displayed below. The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2016 and 2017 s 46,070 7,51 Cash Accounts receivable Office supplies Office equipment Trucks Building Land Accounts payable Note payable 25,007 19,606 2,889 121,093 128,987 47,385 56,385 157,962 0 39,418 65,74532,608 97,380 3,945 Required 1. Prepare balance sheets for the business as of December 31, 2016 and 2017. (Hlint: Report only total equity...
I need help finding the add:net income and the debt ratio please help Required information Problem...
I need help finding the add:net income and the debt ratio
please help
Required information Problem 2-5A Computing net income from equity analysis, preparing a balance sheet, and computing the debt ratio LO C2, A1, A2, P3 The following information applies to the questions displayed below.) The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2016 and 2017. December 31 Cash Accounts receivable Office supplies Office equipment Trucks Building Land Accounts payable Note...
[The following information applies to the questions displayed below.] The accounting records of Nettle Distribution show...
[The following information applies to the questions displayed below.] The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2014 and 2015 2014 2015 $53,922 $ 10,324 29,270 22,947 4,617 3,382 41,731 150,970 55,460 64,460 0 184,884 0 46,137 76,950 38,165 0 131,021 December 31 Cash Accounts receivable Office supplies Office equipment Trucks Building Land Accounts payable Note payable NETTLE DISTRIBUTION Balance Sheet December 31, 2014 Assets Liabilities $53,922 Accounts payable Cash Accounts receivable...
Problem 2-5A Computing net income from equity analysis, preparing a balance sheet, and computing the debt...
Problem 2-5A Computing net income from equity analysis, preparing a balance sheet, and computing the debt ratio LO C2, A1, A2, P3 [The following information applies to the questions displayed below The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2016 and 2017 2016 2017 Cash 64,300 15,640 Accounts receivable 26,240 19, 100 1,960 3,160 office supplies office equipment trucks Building Land Accounts payable Note payable 44,000 44,000 148,000 157,000 80,00 60,000 3,50033,500...
The accounting records of Nettle Distribution show the following assets and liabilities as of December 31,...
The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2018 and 2019. Part 1 of 3 December 31 Cash Accounts receivable Office supplies Office equipment Trucks Building Land Accounts payable Note payable 2018 $ 43,611 23,672 3,734 114,628 44,855 2019 $ 6,629 18,559 2,735 122,100 53,855 149,529 37,314 30,867 86,843 2.5 points 62,235 eBook Required: 1. Prepare balance sheets for the business as of December 31, 2018 and 2019. Hint: Report only total...
The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2016 and 2017 December 31 2016 2017 43,516 $6,595 18,519 2,729 114,379 121,835 53,758 0 149,204 37,233 30,800 86,437 Cash Accounts receivable 23,621 3,726 Office supplies Office equipment Trucks Building Land Accounts payable Note payable 44,758 62,100 NETTLE DISTRIBUTION Balance Sheet December 31, 2016 Assets Liabilities Equity Total equity Total assets 0 Total liabilities and equity NETTLE DISTRIBUTION Balance Sheet December 31, 2016 Assets...
The accounting records of Nettle Distribution show the following assets and liabl liabltiles as of December 31, 2016 and 2017. December 31201 017 Cash Accounts receivable Office supplies s 55,857 10,731 23,431 3,453 154,148 56,629 65,629 e 188,776 e 47,186 38,969 135,882 29,886 4, 714 Office equipment144,714 Part 2 of 3 Trucks Building 0.41 points Land Accounts payable Note payable 78,570 0250:313 2. Compute net income for 2017 by comparing total equity amounts for these two years and using the...
Required information The following information applies to the questions displayed below. The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2016 and 2017 s 46,070 7,51 Cash Accounts receivable Office supplies Office equipment Trucks Building Land Accounts payable Note payable 25,007 19,606 2,889 121,093 128,987 47,385 56,385 157,962 0 39,418 65,74532,608 97,380 3,945 Required 1. Prepare balance sheets for the business as of December 31, 2016 and 2017. (Hlint: Report only total equity...
I need help finding the add:net income and the debt ratio
please help
Required information Problem 2-5A Computing net income from equity analysis, preparing a balance sheet, and computing the debt ratio LO C2, A1, A2, P3 The following information applies to the questions displayed below.) The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2016 and 2017. December 31 Cash Accounts receivable Office supplies Office equipment Trucks Building Land Accounts payable Note...
[The following information applies to the questions displayed below.] The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2014 and 2015 2014 2015 $53,922 $ 10,324 29,270 22,947 4,617 3,382 41,731 150,970 55,460 64,460 0 184,884 0 46,137 76,950 38,165 0 131,021 December 31 Cash Accounts receivable Office supplies Office equipment Trucks Building Land Accounts payable Note payable NETTLE DISTRIBUTION Balance Sheet December 31, 2014 Assets Liabilities $53,922 Accounts payable Cash Accounts receivable...
Problem 2-5A Computing net income from equity analysis, preparing a balance sheet, and computing the debt ratio LO C2, A1, A2, P3 [The following information applies to the questions displayed below The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2016 and 2017 2016 2017 Cash 64,300 15,640 Accounts receivable 26,240 19, 100 1,960 3,160 office supplies office equipment trucks Building Land Accounts payable Note payable 44,000 44,000 148,000 157,000 80,00 60,000 3,50033,500...
The accounting records of Nettle Distribution show the following assets and liabilities as of December 31, 2018 and 2019. Part 1 of 3 December 31 Cash Accounts receivable Office supplies Office equipment Trucks Building Land Accounts payable Note payable 2018 $ 43,611 23,672 3,734 114,628 44,855 2019 $ 6,629 18,559 2,735 122,100 53,855 149,529 37,314 30,867 86,843 2.5 points 62,235 eBook Required: 1. Prepare balance sheets for the business as of December 31, 2018 and 2019. Hint: Report only total...
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