I need help turning this into an income statement. Cash 1,000 Inventory $600 Revenue $400 Cash...
I need help turning this into an income statement.
|
Cash |
1,000 |
|
|
Inventory |
$600 |
|
|
Revenue |
$400 |
|
|
Cash |
10,000 |
|
|
Bank Loan for Building improvement |
10,000 |
|
|
Inventory |
8,000 |
|
|
AP |
8,000 |
|
|
Cash |
1,000 |
|
|
Dividends earned (IBM stock) |
1,000 |
|
|
Payroll Expense |
500 |
|
|
Cash |
$500 |
|
|
Salary |
1000 |
|
|
Cash |
1000 |
|
|
Cash |
2,000 |
|
|
Inventory |
1200 |
|
|
Revenue |
800 |
|
|
Office Supplies |
500 |
|
|
Cash |
500 |
|
|
A/R |
3000 |
|
|
Inventory |
2000 |
|
|
Revenue |
1000 |
Homework Answers
| Income Statement | |||||
| Revenue | $ 2,200.00 | ||||
| Less: | Expenses | ||||
| Payroll Expense | $ 500.00 | ||||
| Salary Expense | $ 1,000.00 | $ 1,500.00 | |||
| Net Income | $ 700.00 | ||||
Let me know if you find this incorrect
Add Answer to:
I need help turning this into an income statement.
Cash
1,000
Inventory
$600
Revenue
$400
Cash...
Given the following financial information, calculate the missing values: $1,000 95,000 Cash Crop revenue Grain inventory...
Given the following financial information, calculate the missing values: $1,000 95,000 Cash Crop revenue Grain inventory Total operating expenses Prepaid expenses Notes payable Accrued interest Interest expense Supplies Owners' equity Machinery and equipment Farm real estate Total current assets Total current liabilities Accounts payable Cash investment in growing crops Net farm income Current portion of long-term debt Deferred portion of long-term debt $75,000 150,000 17,500 14,000 2,000 800 27,000 1,500 200 10,000 10,000 500 138,500
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Need help making the income statement and balance sheet for
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I would appreciate it if the math was also included, Thanks!
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Q: Cash payment for the purchase of inventory requires credit to
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A: True or False
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I just need to figure out what the moving average cost is for the ending inventory....
I
just need to figure out what the moving average cost is for the
ending inventory. And if you could include an explanation in how
you found the average cost on the 18th that would be great because
so far I have this. Just so I can understand how to determine the
avg cost for a date that has both a purchase and selling of
goods.
Date
Buy
COGS
UNITS
AVG Cost
Inventory Cost
2
1700*3.39
0
1700
3.39
5763...
(Calculating financial ratios) The balance sheet and income statement for the J·P. Robard Mig. Company are...
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Given the following financial information, calculate the missing values: $1,000 95,000 Cash Crop revenue Grain inventory Total operating expenses Prepaid expenses Notes payable Accrued interest Interest expense Supplies Owners' equity Machinery and equipment Farm real estate Total current assets Total current liabilities Accounts payable Cash investment in growing crops Net farm income Current portion of long-term debt Deferred portion of long-term debt $75,000 150,000 17,500 14,000 2,000 800 27,000 1,500 200 10,000 10,000 500 138,500
Need help making the income statement and balance sheet for
accounting.
I would appreciate it if the math was also included, Thanks!
BALANCE SHEET INCOME STATEMENT *Using the adjusted trial balance below: *Make the necessary adjustments *Prepare a balance sheet and income statement for the company. Adjustments Required A- Repair service of $3,000 has been completed but the invoices not received from the vendor B-$400 of office supplies were used in the month C- The company paid $1,000 on the...
need help calculating the break even revenue thank you
Question 2: CVP relation version 2 Current sales revenue is $5,000, total variable costs are $2,000, and total fixed costs are $2,000 (no data on units). a) Compute the contribution margin ratio: CMR = .6 b) Write down the CVP relation (version 2): profit as a function of sales revenue. Profit = 6 * Revenue - 2000 (e.g., if profit = 0.1*Revenue-500, enter 0.1 in the first box and 500 in...
The balance sheet and income statement for the A. Thiel Mfg.
Company are as follows. Calculate the ratios at the
bottom.
Cash $ 500 Accounts receivable 2,000 Inventories 1,000 Current assets $3,500 Net fixed assets 4,500 Total assets $8,000 Accounts payable $1,100 Accrued expenses 600 Short-term notes payable 300 Current liabilities $2,000 Long-term debt 2,000 Owners' equity 4,000 Total liabilities and owners' equity $8,000 Income Statement ($000) Sales (all credit) $8,000 Cost of goods sold (3,300) Gross profit $4,700 Operating...
Q: Cash payment for the purchase of inventory requires credit to
inventory.
A: True or False
(n) Note payable Interest expense Cash $10,000 $ 100 $10,100 (0) $ 200 Cash Accounts receivable $ 200 $ 1,500 (p) Wage expense Cash $ 1,500 Totals $119,650 $119,650 Key ideas: i. A journal is a chronological recording of transactions using debits and credits (debit simply means left, and credit simply means right) ii. Journalizing a transaction is just a fancy way of saying...
Cash Dec. 31 Accounts Payable 2,400 Dec 31 800 Service Revenue 25,000 Dec 31 400 (0) 25.400 Bal. Bal 800 2.400 Bal Office Supplies 2.000 1.700 (a Salaries Payable 310 (d) Salaries Expense Dec. 31 Dec. 31 (d) 7.000 310 Bal 300 310 Bal Bal 7.3101 Prepaid Insurance Unearned Revenue 400 700 Dec 31 (a Supplies Expense 1.700 Dec 31 600 580 (b) Bal 20 300 Bal Bal 1.700 Prepaid Insurance 600 580 (b Unearned Revenue Dec 31 400 Supplies...
I
just need to figure out what the moving average cost is for the
ending inventory. And if you could include an explanation in how
you found the average cost on the 18th that would be great because
so far I have this. Just so I can understand how to determine the
avg cost for a date that has both a purchase and selling of
goods.
Date
Buy
COGS
UNITS
AVG Cost
Inventory Cost
2
1700*3.39
0
1700
3.39
5763...
(Calculating financial ratios) The balance sheet and income statement for the J·P. Robard Mig. Company are as follows:囲. Calculate the following ratios: Current ratio Times interest earned Inventory turnover Total asset turnover Operating profit margin Operating return on assets Debt ratio Average collection period Fixed asset turnover Return on equity P. Robard Mfg., Inc. J. Balance Sheet ($000) $500 2,000 1,000 $3,500 4,500 $8,000 Cash Accounts receivable Inventories Current assets Net fixed assets Total assets Accounts payable Accrued expenses Short-term...
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