Use Excel formulas to replace the ? marks Assets, beginning 25 Liabilities, beginning 12 Owner's Equity,...

Use Excel formulas to replace the ? marks

Assets, beginning	25
Liabilities, beginning	12
Owner's Equity, beginning	?
Assets, ending	28
Liabilities, ending	8
Owner's Equity, ending	?
Owner's invetment	3
Owner's Withdrawals	0
Net Income	?

Assets, beginning	28
Liabilities, beginning	10
Owner's Equity, beginning	?
Assets, ending	28
Liabilities, ending	12
Owner's Equity, ending	?
Owner's investment	?
Owner's Withdrawals	5
Net Income	2

Assets, beginning	25
Liabilities, beginning	12
Owner's Equity, beginning	?
Assets, ending	28
Liabilities, ending	8
Owner's Equity, ending	?
Owner's investment	3
Owner's withdrawals	2
Net Income	?

Assets, beginning	25
Liabilities, beginning	10
Owner's Equity, beginning	?
Assets, ending	28
Liabilities, ending	8
Owner's equity ending	?
Owner's Investment	3
Owner's Withdrawal	?
Net Income	?
Revenue	10
Expenses	7

Solutions

Expert Solution

	25
Assets, beginning	25
Liabilities, beginning	12
Owner's Equity, beginning	13
Assets, ending	28
Liabilities, ending	8
Owner's Equity, ending	20
Owner's invetment	3
Owner's Withdrawals	0
Net Income	4

Assets, beginning	28
Liabilities, beginning	10
Owner's Equity, beginning	18
Assets, ending	28
Liabilities, ending	12
Owner's Equity, ending	16
Owner's investment	1
Owner's Withdrawals	5
Net Income	2

Assets, beginning	25
Liabilities, beginning	12
Owner's Equity, beginning	13
Assets, ending	28
Liabilities, ending	8
Owner's Equity, ending	20
Owner's investment	3
Owner's withdrawals	2
Net Income	6

Assets, beginning	25
Liabilities, beginning	10
Owner's Equity, beginning	15
Assets, ending	28
Liabilities, ending	8
Owner's equity ending	20
Owner's Investment	3
Owner's Withdrawal	1
Net Income	3
Revenue	10
Expenses	7

Note:- 1. Equity = Total assets - total liabilties

2. Net income = Revenue - Expenses

3. Owner's Equity, beginning + Owner's Investment + Net Income - Owner's Withdrawal = Owner's equity ending

ekkarill92 answered 1 year ago

Next > < Previous

Related Solutions

1)A listing of the balances of all assets, liabilities, and owner's equity accounts is called a...

1)A listing of the balances of all assets, liabilities, and owner's equity accounts is called a compound entry. general journal. trial balance. chart of accounts. B )Adjusting entries are needed to ensure that revenue is recorded when ___ and expenses are recorded when ___. collected, incurred the service is provided , paid collected, paid the service is provided, incurred

I need excel formulas to Calculate Return on Equity (ROE) and Return on Assets (ROA) from...

I need excel formulas to Calculate Return on Equity (ROE) and Return on Assets (ROA) from the data below. After analyzing the data, what recommendations are there to make? Assets - Total Cash and Short-Term Investments Current Liabilities - Total Liabilities and Stockholders Equity - Total Liabilities - Total Net Income (Loss) Operating Activities - Net Cash Flow Receivables - Total Sales/Turnover (Net) Interest and Related Expense - Total 1432.2480 119.3610 344.4380 1432.2480 903.6070 132.1280 177.6250 25.6770 2683.6770 17.5570 1576.2080...

Liabilities are reported on the a. balance sheet b. income statement c. statement of owner's equity...

Liabilities are reported on the a. balance sheet b. income statement c. statement of owner's equity d. statement of cash flows

The current conceptual distinction between liabilities and equity defines liabilities independently of assets and equity, with...

The current conceptual distinction between liabilities and equity defines liabilities independently of assets and equity, with equity defined as a residual amount. The present proliferation of financial instruments that combine features of both debt and equity and the difficulty of drawing a distinction have led many to conclude that the present two-category distinction between liabilities and equity should be eliminated. Two opposing viewpoints are: View #1: The distinction should be maintained. View #2: The distinction should be eliminated, and financial...

USING EXCEL FORMULAS SOLVE THE PROBLEM. MUST USE EXCEL CALCULATIONS AND FORMULAS.!!! Find the data for...

USING EXCEL FORMULAS SOLVE THE PROBLEM. MUST USE EXCEL CALCULATIONS AND FORMULAS.!!! Find the data for the problem in the first worksheet named LightbulbLife of the data table down below It gives the data on the lifetime in hours of a sample of 50 lightbulbs. The company manufacturing these bulbs wants to know whether it can claim that its lightbulbs typically last more than 1000 burning hours. So it did a study. Identify the null and the alternate hypotheses for...

Prepare the Income Statement, Balance Sheet and Statement of Owner's Equity in an Excel File. (1)....

Prepare the Income Statement, Balance Sheet and Statement of Owner's Equity in an Excel File. (1). Mr. Sheng sought an attorney for legal advice to help him start a company, The Sheng Enterprise, which sells native rattan bags. On January 1, 2010, Mr. Sheng invested P2,000,000.00 cash in the business. The attorney advised him to hire an accountant for his bookkeeping. Mr. Sheng paid P1,000.00 for the legal services. However, Mr. Sheng was preoccupied with the product development that was...

define balance sheet assets liabilities equity

define balance sheetassetsliabilitiesequity

Create a balance sheet (assets, liabilities, equity, liabilities + equity) for Tech Co using the following...

Create a balance sheet (assets, liabilities, equity, liabilities + equity) for Tech Co using the following information: Adjusted Trial Balance As of December 31, 2014 Debits Credits Cash 278,554,562 Accounts Receivable 128,102,723 Allowance for Doubtful Accounts 5,764,623 Inventory 1,438,773,206 Merchandise Purchases 2,363,146,864 Buildings 198,895,751 Accumulated Depreciation - Building 84,843,130 Equipment 104,891,998 Accumulated Depreciation - Equipment 42,768,575 Trademark 80,000 Accounts Payable 1,243,547,398 Interest Payable 2,258,179 Taxes Payable 9,015,728 Notes Payable 160,391,997 Bonds Payable 200,000 Premium on Bonds Payable 3,600 Dividends Payable...

1. The balance sheet consists of assets and liabilities and equity. With a focus on liabilities,...

1. The balance sheet consists of assets and liabilities and equity. With a focus on liabilities, discuss the connectedness of these three components. 2. Discuss the components needed to determine the present value of a noncurrent liability. 3. Discuss the relationship between the income statement and the shareholders' equity section of the balance sheet. 4. Discuss the purpose of other comprehensive income and accumulated other comprehensive income. 5. Compare and contrast book value per share and market capitalization. 6. Evaluate...

1.Owner's equity for our company is $500,000, and total liabilities are $250,000. The company paid $50,000...

1.Owner's equity for our company is $500,000, and total liabilities are $250,000. The company paid $50,000 in dividends during the year. What do our total assets equal? $250,000 $300,000 $700,000 $750,000 2.The net income for our company this year is $20,000. The beginning and ending retained earnings balances were $46,000 and $52,000, respectively. The company issued no common stock. Calculate the amount of dividends paid by the company this year. $14,000 $54,000 $60,000 $106,000 3.Which of the following accounts is...

Subjects