B. Create the income statement. Use minus sign to indicate the loss. C. Create the statement of owner’s equity. If an amount box requires a zero, enter "0". For those boxes in which you must enter subtractive or negative numbers use a minus sign.
B. Create the income statement. Use minus sign to indicate the loss. C. Create the statement of owner’s equity. If an amount box requires a zero, enter "0". For those boxes in which you must enter subtractive or negative numbers use a minus sign.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Topic Video
Question
B. Create the income statement. Use minus sign to indicate the loss.
C. Create the statement of owner’s equity. If an amount box requires a zero, enter "0". For those boxes in which you must enter subtractive or negative numbers use a minus sign.
![Complete the following problem in Excel. Use a different tab for each financial
statement.
A. Calculate the ending balance for each account.(The area shaded in yellow)
B. Create the income statement.
C. Create the statement of owner's equity.
D. Create the balance sheet.
Assets
Liabilities
Owner's Equity
Equipment Accounts
Рayable
Cash
Inventory
Wages
Payable
Common
Retained
Stock
Earnings
$50,000
(6,000)
50,000
6,000
22,000
22,000
1,250
(750)
1,250
(750)
(600)
600
3,000
(3,000)
3,200
(175)
3,200
175
(1,000)
1,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0638e03a-dbef-4ea2-93f1-b146fd847d14%2Fae1ca91b-e873-4211-82d5-dc5f2ee708bf%2Fs0xwohq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Complete the following problem in Excel. Use a different tab for each financial
statement.
A. Calculate the ending balance for each account.(The area shaded in yellow)
B. Create the income statement.
C. Create the statement of owner's equity.
D. Create the balance sheet.
Assets
Liabilities
Owner's Equity
Equipment Accounts
Рayable
Cash
Inventory
Wages
Payable
Common
Retained
Stock
Earnings
$50,000
(6,000)
50,000
6,000
22,000
22,000
1,250
(750)
1,250
(750)
(600)
600
3,000
(3,000)
3,200
(175)
3,200
175
(1,000)
1,000
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