Accounting 1 - SLO 2 John Doe started his business, Copy Specialties, Inc., on January 5, 2021. The following information was obtained from the accounts of the company as of January 31, 2021. In the space provided, please prepare, in proper form, an Income Statement, Statement of Stockholder's Equity and Balance Sheet (unclassified) for the month ending January 31, 2021. Solve for Equipment value. In addition, provide 3 observations on Profitability and 3 observations on Liquidity. Rent Expense 7.200 Common Stock 12.000 Cash 2.000 Accounts Payable 3.500 Dividends 1.000 Utilities Expense 500 Service Revenue 9.300 Supplies 2.800 Accounts Receivable 1.000 Misc. Expense 400 Equipment ?
Accounting 1 - SLO 2 John Doe started his business, Copy Specialties, Inc., on January 5, 2021. The following information was obtained from the accounts of the company as of January 31, 2021. In the space provided, please prepare, in proper form, an Income Statement, Statement of Stockholder's Equity and Balance Sheet (unclassified) for the month ending January 31, 2021. Solve for Equipment value. In addition, provide 3 observations on Profitability and 3 observations on Liquidity. Rent Expense 7.200 Common Stock 12.000 Cash 2.000 Accounts Payable 3.500 Dividends 1.000 Utilities Expense 500 Service Revenue 9.300 Supplies 2.800 Accounts Receivable 1.000 Misc. Expense 400 Equipment ?
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter3: The Basics Of Record Keeping And Financial Statement Preparation: Income Statement
Section: Chapter Questions
Problem 20P
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Question
Accounting 1 - SLO 2
John Doe started his business, Copy Specialties, Inc., on January 5, 2021. The following
information was obtained from the accounts of the company as of January 31, 2021. In the space
provided, please prepare, in proper form, an Income Statement, Statement of Stockholder's Equity
and Balance Sheet (unclassified) for the month ending January 31, 2021. Solve for Equipment value.
In addition, provide 3 observations on Profitability and 3 observations on Liquidity.
Rent Expense 7.200 Common Stock 12.000
Cash 2.000 Accounts Payable 3.500
Dividends 1.000 Utilities Expense 500
Service Revenue 9.300 Supplies 2.800
Accounts Receivable 1.000 Misc. Expense 400
Equipment ?
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