Homework Answers
Answer
- Requirements asked
|
Income Statement |
|
|
for the month ended Apr 30, 201X |
|
|
Revenues |
$1,000 |
|
Expenses |
$700 |
|
Net Income |
$300 |
|
Statement of Owner's Equity |
|
|
for the month ended Apr 30, 201X |
|
|
J Tallhouse, Capital - Beginning |
$3,000 |
|
Add: Net Income |
$300 |
|
Less: Withdrawals |
$150 |
|
J Tallhouse, Capital - Ending |
$3,150 |
|
Balance Sheet |
|
|
as of Apr 30, 201X |
|
|
ASSETS |
|
|
Cash |
$4,000 |
|
Account receiavbles |
$150 |
|
Equipment |
$1,000 |
|
Total Assets |
$5,150 |
|
LIABILITIES |
|
|
Accounts Payable |
$2,000 |
|
OWNER's EQUITY |
|
|
J Tallhouse, Capital - Ending |
$3,150 |
|
Total Liabilities & Owner's equity |
$5,150 |
Add Answer to:
PART 2: FINANCIAL STATEMENTS 20 POINTS Use the following information to prepare 1) an Income Statement,...
Please give me an income statement, statement of owner's equity, and balance sheet. (No need explanation,...
Please give me an income statement,
statement of owner's equity, and balance sheet. (No need
explanation, just want to check my answer)
J. Tren Worksheet Month Ended May 31, 201X Trial Balance | Adjustments Adjusted Trial Balance | Income Statement Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Balance Sheet Dr. Cr. Account Titles Cash Accounts Receivable Prepaid Insurance Store Supplies Store Equipment Accumulated Depreciation, Store Equipment Accounts Payable J. Tren, Capital J. Tren, Withdrawals Revenue from Clients Rent Expense...
Use the following Adjusted Trial Balance to create an Income Statement, Statement of Owner's Equity and...
Use the following Adjusted Trial Balance to create an Income Statement, Statement of Owner's Equity and a classified Balance Sheet. Please use proper terminology, such as Current Assets, Current Liabilities, Total Assets, Total Liabilities and "Total Liabilities and Owner's Equity". Feel free to use extra paper for your answer. Accumulated Depreciation - Bldg. 5,000 Accounts Payable 4,000 Accounts Receivable 20,000 Building 35,000 Cash 1,000 Cost of Goods Sold 27,000 Depreciation expense -bldg 3,000 Not included in Cost of Goods Sold...
1 1 Critical Thinking Problem 2.1 (Algo) Financial Statements LO 2-3, 2-4 10 Doints The following...
1 1 Critical Thinking Problem 2.1 (Algo) Financial Statements LO 2-3, 2-4 10 Doints The following account balances are for Ping Chung, Certified Public Accountant, as of April 30, 20X1. Cash Accounts receivable Maintenance expense Advertising expense Fees earned Ping Chung Capital, April 1 Salaries expense Machinery Accounts payable Ping Chung, withdrawals for April $120,000 48,000 21,400 17,960 125,200 Book Ask 59,500 91,500 52,800 31,700 Print Required: Determine the balance for Ping Chung, Capital, April 1, 20X1. Prepare an income...
I need part 4 only please, the financial statements based on the following information and transactions. Please and than...
I need part 4 only please, the financial statements
based on the following information and transactions. Please and
thank you!
List of accounts, I do not need the trial balance for this question
posting.
THIS is the part I need please, the financial
statements only.
The following balances appeared in the general ledger accounts of Fenton Table Rentals Corporation at April 1, 2019. April 1 balances: Debit Credit Cash 5,000 Accounts receivable 5,000 Prepaid rent 200 Unused supplies 500 Accounts...
Indicate the financial statement on which each of the following items appears. Use I for income statement, E for statement of owner's equity, and B for balance sheet.
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Part 1: (See photo) prepare finacial statements: income statement, statement of owners equity, and balance sheet....
Part 1: (See photo) prepare finacial statements: income
statement, statement of owners equity, and balance sheet.
Then: perform ratio analysis
a. current ratio
b. quick ratio
c. debt ratio
d. equity ratio
e. debt to equity ratio
f. profit margin for each reporting period
part 2: summarize the firms finacial position based on
information in part 1
Extend Your Skills 63 Extend Your Skills EA2-E1 Create Financial Statements for Frozen Fractals Corp. In this exercise, you will create an income...
Exercise 3-10 Preparing Financial Statements from a Trial Balance LO P6 Following are the accounts and...
Exercise 3-10 Preparing Financial Statements from a Trial Balance LO P6 Following are the accounts and balances from the adjusted trial balance of Stark Company. Notes payable Prepaid insurance Interest expense Accounts payable Wages payable Cash Wages expense Insurance expense Stark, Capital Services revenue $ 14,000 Accumulated depreciation-Buildings 2,800 Accounts receivable 560 Utilities expense 3,000 Interest payable 700 Unearned revenue 16,000 Supplies expense 7,000 Buildings 2,100 Stark, Withdrawals 42,800 Depreciation expense-Buildings 35,000 Supplies $18,000 4,600 1,600 220 950 260 70,000...
Financial Statements The amounts of the assets and liabilities of Wilderness Travel Service at April 30,...
Financial Statements The amounts of the assets and liabilities of Wilderness Travel Service at April 30, 2019, the end of the year, and its revenue and expenses for the year are listed below. The capital of Harper Borg, owner, was $40,140 at May 1, 2018, the beginning of the year, and the owner withdrew $21,300 during the year. Accounts payable $13,890 Accounts receivable Cash Fees earned 74,370 150,130 528,100 4,100 68,390 Miscellaneous expense Rent expense Supplies 6,470 Supplies expense 10,940...
The following financial statements were prepared at the end of the month of May: TOPS IN...
The following financial statements were prepared at the end of the month of May: TOPS IN TOPIARY - INCOME STATEMENT FOR the month of May Revenue $2,540 Expenses: Rent Expense $500 Advertising Expense $500 Wages Expense $200 $1,200 Net Income $1,340 TOPS IN TOPIARY - STATEMENT OF OWNER'S EQUITY FOR the month of MAY Owner's Equity at May 1 $0 plus: Investment 2,000 plus: Net Income 1,340 less: Withdrawals 0 Owner's Equity at May 31 $3,340 TOPS IN TOPIARY -...
Financial Statements. Prepare Year-End Financial Statements for The Metal Works Corporation. This includes the Income Statement,...
Financial Statements. Prepare Year-End Financial Statements for The Metal Works Corporation. This includes the Income Statement, Statement of Retained Earnings, and Balance Sheet. From the adjusted blance sheet: Cash 24,786 Petty Cash 305 Accounts Receivable 11500 Supplies on Hand 150 Prepaid Insurance 1000 Computer Equipment 3150 Accumulated Depreciation – Computer Equipment 178 Cell Phone 849 Accumulated Depreciation – Cell Phone 56 Vehicles 55000 Accumulated Depreciation - Vehicles 3121 Accounts Payable 3260 Customer Deposits (Unearned Revenue) SUTA Payable 224 FICA Payable...
Please give me an income statement,
statement of owner's equity, and balance sheet. (No need
explanation, just want to check my answer)
J. Tren Worksheet Month Ended May 31, 201X Trial Balance | Adjustments Adjusted Trial Balance | Income Statement Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Balance Sheet Dr. Cr. Account Titles Cash Accounts Receivable Prepaid Insurance Store Supplies Store Equipment Accumulated Depreciation, Store Equipment Accounts Payable J. Tren, Capital J. Tren, Withdrawals Revenue from Clients Rent Expense...
Use the following Adjusted Trial Balance to create an Income Statement, Statement of Owner's Equity and a classified Balance Sheet. Please use proper terminology, such as Current Assets, Current Liabilities, Total Assets, Total Liabilities and "Total Liabilities and Owner's Equity". Feel free to use extra paper for your answer. Accumulated Depreciation - Bldg. 5,000 Accounts Payable 4,000 Accounts Receivable 20,000 Building 35,000 Cash 1,000 Cost of Goods Sold 27,000 Depreciation expense -bldg 3,000 Not included in Cost of Goods Sold...
1 1 Critical Thinking Problem 2.1 (Algo) Financial Statements LO 2-3, 2-4 10 Doints The following account balances are for Ping Chung, Certified Public Accountant, as of April 30, 20X1. Cash Accounts receivable Maintenance expense Advertising expense Fees earned Ping Chung Capital, April 1 Salaries expense Machinery Accounts payable Ping Chung, withdrawals for April $120,000 48,000 21,400 17,960 125,200 Book Ask 59,500 91,500 52,800 31,700 Print Required: Determine the balance for Ping Chung, Capital, April 1, 20X1. Prepare an income...
I need part 4 only please, the financial statements
based on the following information and transactions. Please and
thank you!
List of accounts, I do not need the trial balance for this question
posting.
THIS is the part I need please, the financial
statements only.
The following balances appeared in the general ledger accounts of Fenton Table Rentals Corporation at April 1, 2019. April 1 balances: Debit Credit Cash 5,000 Accounts receivable 5,000 Prepaid rent 200 Unused supplies 500 Accounts...
Part 1: (See photo) prepare finacial statements: income
statement, statement of owners equity, and balance sheet.
Then: perform ratio analysis
a. current ratio
b. quick ratio
c. debt ratio
d. equity ratio
e. debt to equity ratio
f. profit margin for each reporting period
part 2: summarize the firms finacial position based on
information in part 1
Extend Your Skills 63 Extend Your Skills EA2-E1 Create Financial Statements for Frozen Fractals Corp. In this exercise, you will create an income...
Exercise 3-10 Preparing Financial Statements from a Trial Balance LO P6 Following are the accounts and balances from the adjusted trial balance of Stark Company. Notes payable Prepaid insurance Interest expense Accounts payable Wages payable Cash Wages expense Insurance expense Stark, Capital Services revenue $ 14,000 Accumulated depreciation-Buildings 2,800 Accounts receivable 560 Utilities expense 3,000 Interest payable 700 Unearned revenue 16,000 Supplies expense 7,000 Buildings 2,100 Stark, Withdrawals 42,800 Depreciation expense-Buildings 35,000 Supplies $18,000 4,600 1,600 220 950 260 70,000...
Financial Statements The amounts of the assets and liabilities of Wilderness Travel Service at April 30, 2019, the end of the year, and its revenue and expenses for the year are listed below. The capital of Harper Borg, owner, was $40,140 at May 1, 2018, the beginning of the year, and the owner withdrew $21,300 during the year. Accounts payable $13,890 Accounts receivable Cash Fees earned 74,370 150,130 528,100 4,100 68,390 Miscellaneous expense Rent expense Supplies 6,470 Supplies expense 10,940...
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