Question

create balance sheet

terree Watch Y Yahoo Google School Resources M Gmail YouTube Maps BREANNA, INC. Balance Sheet December 31, 2016 Assets Accounts receivable Cash Equipment Merchandise inventory Total current assets Total assets Liabilities Common stock (Retained earnings Accounts payable Long-term debt Total liabilities Stockholders' Equity

Answer 1

Income statement is the statement of expenses and incomes. All the expenses are deducted from the gross revenue to arrive the net income or net loss.The balance sheet is a statement shows the financial position of the organisation in the form of assets and liabilities at specific date.

year ended. Breanna, Inc Income statement for the December 31, 2016 particular Na govo 1195, ooo 128.000 67.000 34,000 sales cost of Goods sold Gross Margin operating expenses selling, general and administrative Deep enres Loperating profit Interest bepenses Interest Income before tax Income tax expenses Met Income 33,000 5.600 27,400 19,000 118,400 statement of changes in equity for the year ended rose common Retained Total I stock Earnings Balance at Beginning 96000 28,800 124,800 Net Income | 18,400 | 18,400 Dividend paid (9,200 (9, 200) Total Balance ending 96000 38000 13 4000

Breanna, Inc Balance sheet as on December 3 2016 Assets current Assets cash 62,500 Account Receivable 10,600 Merchandise Inventory 138,5oo Total current Assets | 111600 Non-current Assets Equipment 123000 Less. Accumulated Depreciation solo0 72,900 Total acrets 184,500 I Liability $ current liability Account payable 110,500 Leng term debt oou 40,000 stockholder's Equity common stock 196000 Retained Earnings 138000 Total liabilities 184500