Prepare financial statements (IS., OE S., BS.): building 100.000, land 50.000, cash 30.000, AP 30.000, bank...

Prepare financial statements (IS., OE S., BS.):

building 100.000, land 50.000, cash 30.000, AP 30.000, bank loan 60.000, AR 12.000, unearned revenue 8.000, equipment 60.000, car 40.000, supplies 18.000, NR 40.000, rent payable 2.000, capital ??, drawings 10.000, service revenue 100.000, rent exp. 15.000, salaries exp. 25.000

Expert Solution

ekkarill92 answered 1 year ago

CASH 50.000 , AP 30.0000 , BANK LOAN 60.000 , EQUIPMENT 80.000 , LAND 65.000 ,...

CASH 50.000 , AP 30.0000 , BANK LOAN 60.000 , EQUIPMENT 80.000 , LAND 65.000 , DRAWINGS 12.000 , AR 75.000 , BEG. CAPITAL ?? , ADD. INVESTMENT 20.000, RENT EXP. 12.000 , RENT PAYABLE 1.0000. SALARIES EXP. 24.0000 , SERVICE REV. 85.000 PREPARE FINANCIAL STATEMENTS.

Prepare bank reconciliation and related entries. AP The bank portion of the bank reconciliation for Katsaris...

Prepare bank reconciliation and related entries. AP The bank portion of the bank reconciliation for Katsaris Company at August 31, 2017, was as follows: KATSARIS COMPANYBank Reconciliation August 31, 2017 Cash balance per bank $13,229 Add: Deposits in transit 2,350 15,579 Less: Outstanding cheques #4451 $1,740 #4460 549 #4461 723 #4462 1,840 #4464 620 5,472 Adjusted cash balance per bank $10,107 The unadjusted cash balance per books on September 30, 2017, was $10,228. The September bank statement showed the following:...

Using the 2017 and 2018 financial statements for Apple and Bank of America, prepare two financial...

Using the 2017 and 2018 financial statements for Apple and Bank of America, prepare two financial ratios for each of the following categories: liquidity ratios, asset management ratios, and profitability ratios.

Use the following financial statements and additional information to prepare a statement of cash flows for...

Use the following financial statements and additional information to prepare a statement of cash flows for the year ended December 31, 2018 using the indirect method. Monterey Company Balance Sheets At December 31 2018 2017 Assets: Cash $85,600 $65,200 Accounts receivable, net 72,850 56,750 Merchandise inventory 157,750 144,850 Prepaid expenses 6,080 12,680 Equipment 280,600 245,600 Accumulated depreciation-Equipment (80,600) (97,600) Total assets $522,280 $427,480 Liabilities: Accounts payable $52,850 $45,450 Income taxes payable 15,240 12,240 Notes payable (long term) 59,200 79,200 Total...

Based on the financial statements provided, prepare a statement of cash flows for the year ended...

Based on the financial statements provided, prepare a statement of cash flows for the year ended February 28, 2018. SILVER CLOUD COMPUTING Income Statements For the Years Ended February 28, 2018 and 2017 fye 2/28/2018 fye 2/28/2017 (in thousands) (in thousands) Sales $ 225,000 $ 200,000 Sales Discounts 3,375 2,500 Net Sales 221,625 197,500 Wages and Salaries 73,500 70,000 Bad Debt Expense 2,100 2,000 Depreciation 20,000 20,000 Marketing Expense ...

E13.13 (LO 3), AP The condensed financial statements of Ness Company for the years 2021 and...

E13.13 (LO 3), AP The condensed financial statements of Ness Company for the years 2021 and 2022 are presented below. Compute ratios. Ness Company Balance Sheets December 31 (in thousands) 2022 2021 Current assets Cash and cash equivalents $ 330 $ 360 Accounts receivable (net) 470 400 Inventory 460 390 Prepaid expenses 130 160 Total current assets 1,390 1,310 Property, plant, and equipment (net) 410 380 Investments 10 10 Intangibles and other assets 530 510 Total assets $2,340 $2,210 Current...

Why do organizations prepare cash flow statements and operating statements?

Purchased land and building for $260,000 as follows: $60,000 paid in cash and a 12% note...

Purchased land and building for $260,000 as follows: $60,000 paid in cash and a 12% note payable due 12/1/19 was signed for $200,000. The land value was $20,000 and the building value was $240,000 The building has a 30-year useful life and no salvage value. The company uses straight line depreciation. How is this posted on the General Journal sheet?

Prepare the 2018 cash flow statement for XYZ Corp. Assume no dividends were paid. Financial Statements...

Prepare the 2018 cash flow statement for XYZ Corp. Assume no dividends were paid. Financial Statements for XYZ Corp. Balance Sheet for Period Ending December 31. Assets 2017 2018 Cash and Marketable Securities 40 15 Accounts Receivable 160 80 Inventories 250 370 Total Current Assets 450 465 Gross Plant and Equipment 675 855 less: Accumulated Depreciation 250 300 Net Plant and Equipment 425 555 Total Assets 875 1020 Liabilities and Equity Accounts Payable 15 30 Short-term Bank Loans 35 40...

Current and historical Financial Statements (Income Statement (I/S), Balance Sheet (B/S) and Statement of Cash Flows)...

Current and historical Financial Statements (Income Statement (I/S), Balance Sheet (B/S) and Statement of Cash Flows) from the 3 most current years for the firm The financial statements must include changes (deltas) between years. Income Statement (Annual) Revenue 12/31/2017 12/31/2016 12/31/2016 Total Revenue 40,122,000 39,807,000 39,498,000 Cost of Revenue 12,503,000 13,363,000 14,423,000 Gross Profit 27,619,000 26,444,000 25,075,000 Operating Expenses Research Development 9,687,000 6,784,000 6,613,000 Selling General & Administrative 9,784,000 9,589,000 9,779,000 Non Recurring Others Total Operating Expenses 31,974,000 29,736,000 30,835,00...

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