Reference cells, instead of entering values.Example: =B3+C3 C18789 (All formulas must return positive values.)1011121314 Sales Revenues15 Expenses:16 Rent Expense17 Wages Expense18Utilities Expense19Income Tax ExpenseX ✓ fxABсearlier statement rather than calculate the amount, thus indicating the relationship between the two statements.20 Net income21222333342425 Marta, Capital, March 126Add: Net income27 Subtract: Owner Withdrawals28 Marta, Capital, March 3129303132AssetsCashMARTA COMMUNICATIONS CompanyIncome StatementFor the Month Ended March 31MARTA COMMUNICATIONS CompanyStatement of Owners' EquityFor the Month Ended March 3135363738 Total Assets39Accounts receivableOffice SuppliesLand$34,5002,6004,800800$4,100$0(500)MARTA COMMUNICATIONS CompanyBalance SheetAt March 31Liabilities$3,400 Accounts payable2,300 Owners' Equity12,000 Marta, CapitalTotal Liabilities and Owners' EquityD$20,800EFGHIJKLMNC

The income statement explains the financial performance of the company and it further determines the…

A B 7 earlier statement rather than calculate the amount, thus indicating the relationship between the two statements. 8 9 (All formulas must return positive values.) 10 11 12 13 14 Sales Revenues 15 Expenses: 16 Rent Expense 17 Wages Expense 18 Utilities Expense Income Tax Expense MARTA COMMUNICATIONS Company Income Statement For the Month Ended March 31 19 20 Net income 21 22 23 24 25 Marta, Capital, March 1 26 Add: Net income MARTA COMMUNICATIONS Company Statement of Owners' Equity For the Month Ended March 31 27 Subtract: Owner Withdrawals 28 Marta, Capital, March 31 29 Assets Cash 30 31 32 33 34 35 Accounts receivable 36 Office Supplies 37 Land 38 Total Assets 20 $34,500 2,600 4,800 800 $4,100 $0 (500) MARTA COMMUNICATIONS Company Balance Sheet At March 31 Liabilities $3,400 Accounts payable 2,300 Owners' Equity 12,000 Marta, Capital Total Liabilities and Owners' Equity D $20,800 E FL 12 G

A B 7 earlier statement rather than calculate the amount, thus indicating the relationship between the two statements. 8 9 (All formulas must return positive values.) 10 11 12 13 14 Sales Revenues 15 Expenses: 16 Rent Expense 17 Wages Expense 18 Utilities Expense Income Tax Expense MARTA COMMUNICATIONS Company Income Statement For the Month Ended March 31 19 20 Net income 21 22 23 24 25 Marta, Capital, March 1 26 Add: Net income MARTA COMMUNICATIONS Company Statement of Owners' Equity For the Month Ended March 31 27 Subtract: Owner Withdrawals 28 Marta, Capital, March 31 29 Assets Cash 30 31 32 33 34 35 Accounts receivable 36 Office Supplies 37 Land 38 Total Assets 20 $34,500 2,600 4,800 800 $4,100 $0 (500) MARTA COMMUNICATIONS Company Balance Sheet At March 31 Liabilities $3,400 Accounts payable 2,300 Owners' Equity 12,000 Marta, Capital Total Liabilities and Owners' Equity D $20,800 E FL 12 G

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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