Question

In: Accounting

Given the following information please construct a balance sheet and an income statement for the company....

Given the following information please construct a balance sheet and an income statement for the company. It provides software via a cloud subscription. There is no inventory.

All information in $000

Total Revenues                                            5,374

Cash                                                                  908

Common Stock                                                651

Cost of Revenues Subscription                     925

Interest Expense                                               16

Additional Paid in Capital                           3,954

Retained Earnings                                       (630)

Cost of Revenues Professional Services     365

Gross Margin                                                4,084

Short term securities                                       87

Long term debt                                            2,328

Accounts Receivable                                   1,906

Accounts Payable                                        1,103

Research & Development                             793

Marketing & Sales                                       2,757

Other current liabilities                              3,287

Other current assets                                       649

Investment income                                        10

General & Administrative Expense              680

Depreciation                                                     448

Property & Equipment                               1,126

Goodwill                                                        3,783

Other long term assets                               2,234

Total Current Assets                                    3,550

Total Operating Income                             (146)

Net Loss                                                         (600)

Total assets                                                   10,693

Solutions

Expert Solution

ekkarill92 answered 2 years ago
Next > < Previous

Related Solutions

Given the following information please construct a balance sheet and an income statement for the company....
Given the following information please construct a balance sheet and an income statement for the company. It provides software via a cloud subscription. There is no inventory. All information in $000 Total Revenues                                            5,374 Cash                                                                  908 Common Stock                                                651 Cost of Revenues Subscription                     925 Interest Expense                                               16 Additional Paid in Capital                           3,954 Retained Earnings                                       (630) Cost of Revenues Professional Services     365 Gross Margin                                                4,084 Short term securities                                       87 Long term debt                                            2,328 Accounts Receivable                                  ...
USE THE FOLLOWING INFORMATION TO CONSTRUCT AN INCOME STATEMENT AND BALANCE SHEET FOR 2011. ASSUME THE...
USE THE FOLLOWING INFORMATION TO CONSTRUCT AN INCOME STATEMENT AND BALANCE SHEET FOR 2011. ASSUME THE TAX RATE IS 40%. (COMMON EQUITY IS A PLUG IN NUMBER) ITEM 2010 2011 SALES 10,000 12,000 DEPRECIATION 3,000 3,000 COST OF GOODS SOLD 2,000 2,000 OTHER EXPENSES 3,000 4,000 INTEREST 1,000 1,000 CASH 1,000 1,000 ACCOUNTS RECEIVABLE 3,000 3,000 S.T. NOTES PAYABLE 1,000 1,000 L.T. DEBT 10,000 11,000 NET FIXED ASSETS 20,000 20,000 ACCOUNTS PAYABLE 2,000 2,000 INVENTORY 3,000 3,000 DIVIDENDS 600 600...
construct an income statement and balance sheet for      the first month of operation, given the...
construct an income statement and balance sheet for      the first month of operation, given the following information:     Sales $104,000.00 Collections $77,000.00 Purchases (paid for half) $60,000.00 Ending inventory $57,000.00 Equipment Depreciation $18,000.00 Vehicle Depreciation $2,000.00 Heat (due next month) $450.00 Electricity $325.00 Telephone $230.00 Advertising $1,200.00 Salaries $15,500.00 Payroll Tax Expense $1,700.00 Office Supplies $200.00 Insurance (due next month) $1,250.00 Loan payment $3,500.00     principal $1,500.00     interest $2,000.00 Legal fees (due next month) $500.00 Accounting $250.00 Vehicle...
Based on the following financial information, construct the balance sheet and income statement below for Tonka...
Based on the following financial information, construct the balance sheet and income statement below for Tonka Trucking LLC for the year ending December 31, 2019. Be sure to format them as accurately as possible. Accounts Receivable $40,000 Depreciation Expense $50,000 Accumulated Depreciation $200,000 Cost of Goods Sold $50,000 Income Tax Expense $50,000 Cash $50,000 Sales Revenue $400,000 Equipment (Net of Accumulation) $200,000 Selling, General, and Administrative Expenses $100,000 Common Stock (1,000 shares) $100,000 Accounts Payable $50,000 Retained Earnings $200,000 Interest...
Construct a balance sheet and Income statement for Boca State Bank with the following information. Investment...
Construct a balance sheet and Income statement for Boca State Bank with the following information. Investment Securities $23,000 Demand Deposits $19,000 Now accounts $89,000 Cash and due from banks $9,000 Taxes $3,000 Interest on fees and loans $9,000 Retail CDs $28,000 Long term debt $19,000 Reverse Repos $42,000 Interest on investment securities $4,000 Interest on long term debt $2,000 Loans $90,000 Fixed Assets $15,000 Interest on reverse repos $6,000 Interest on deposits $9,000 Other assets $4,000 Paid in capital $4,000...
From the following information, construct a simple income statement and a balance sheet: Sales $900,000 Finished...
From the following information, construct a simple income statement and a balance sheet: Sales $900,000 Finished goods 190,000 Long-term debt 400,000 Raw materials 140,000 Cash 75,000 Cost of goods sold 480,000 Accounts receivable 170,000 Plant and equipment 490,000 Interest expense 50,000 Number of shares outstanding 110,000 Earnings before taxes 240,000 Taxes 100,000 Accounts payable 200,000 Other current liabilities 40,000 Other expenses 130,000 Equity 425,000 Round your answer for earnings per share to the nearest cent. Corporation X: Income Statement for...
QUIZ (MUST BE TYPED) With the information given below, construct Pedro Inc.’s Balance Sheet, Income Statement...
QUIZ (MUST BE TYPED) With the information given below, construct Pedro Inc.’s Balance Sheet, Income Statement and Retained Earnings Statement for 2016 (NO PREFERRED STOCK). (In 000’s) December 31, 2016 Cash                                                    $          ? Notes Payable                                     500,000 Sales                                                   10,000,000 Accounts Receivable                          850,000 Accounts Payable                               1,200,000 Long-term Debt                                  18,000,000 Common Stock (10,000 shares)         10,000 Additional Capital                              4,990,000 Retained Earnings (2015)                 5,050,000 Gross Fixed Assets                             32,350,000 Cost of Goods Sold                            4,000,000 Other Operating Expenses                 1,450,000 Inventory                                            1,980,000 Interest Expense                                 2,500,000 Tax Rate 50%...
Prepare balance sheet and an income statement for corp xyz given the following information: Inventory $...
Prepare balance sheet and an income statement for corp xyz given the following information: Inventory $ 6,500 Common Stock 45,000 Cash 15,550 Operating expenses 1,350 Short-term notes payable 600 Interest expense 900 depreciation expense 500 sales 12,800 accounts receivable 9,600 Accounts payable 4,800 long-term debt 55,000 Cost of goods sold 5,750 Buildings and equipment 122,000 Accumulated depreciation 34,000 Taxes 1,440 General and Administrative expenses 850 retained earnings? Using previously worked financial statements, determine the following financial ratios. Please interpret each...
eBook Problem 9-01 From the following information, construct a simple income statement and a balance sheet:...
eBook Problem 9-01 From the following information, construct a simple income statement and a balance sheet: Sales $1,300,000 Finished goods 100,000 Long-term debt 200,000 Raw materials 130,000 Cash 80,000 Cost of goods sold 650,000 Accounts receivable 190,000 Plant and equipment 530,000 Interest expense 90,000 Number of shares outstanding 110,000 Earnings before taxes 470,000 Taxes 120,000 Accounts payable 220,000 Other current liabilities 60,000 Other expenses 90,000 Equity 550,000 Round your answer for earnings per share to the nearest cent. Corporation X:...
4) Using the balance sheet from #3, construct an income statement and balance sheet for     ...
4) Using the balance sheet from #3, construct an income statement and balance sheet for      the first month of operation, given the following information:     Sales $104,000.00 Collections $77,000.00 Purchases (paid for half) $60,000.00 Ending inventory $57,000.00 Equipment Depreciation $18,000.00 Vehicle Depreciation $2,000.00 Heat (due next month) $450.00 Electricity $325.00 Telephone $230.00 Advertising $1,200.00 Salaries $15,500.00 Payroll Tax Expense $1,700.00 Office Supplies $200.00 Insurance (due next month) $1,250.00 Loan payment $3,500.00     principal $1,500.00     interest $2,000.00 Legal fees...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT