Provide detailed Income statement • Based on this information can you create an Income Statment• Accounts Receivable $1,200• Accounts Payable $20,200Advertising Expense $750• Cash $28,600• Cost of Goods Sold S8,800• Drawings by Owner $1,625• Equipment $5,150• Interest Expense $300• Interest Payable $300• Inventory $3,900• Investments by Owner $10,000• Rent Expense $3,600• Sales Returns $600Sales Revenue $11,900• Service Revenue $20,750Supplies S600Supplies Expense $2,025Utilities Expense $600Wages Expense S5,400

Name: Provide detailed Income statement • Based on this information can you
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Description: Provide detailed Income statement • Based on this information can you create an Income Statment• Accounts Receivable $1,200• Accounts Payable $20,200Advertising Expense $750• Cash $28,600• Cost of Goods Sold S8,800• Drawings by Owner $1,625• Equipmen

Income Statement is prepared to find out the net profit for the current financial year by…

Answered: Provide detailed Income statement

Business

Accounting

Provide detailed Income statement

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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• Based on this information can you create an Income Statment • Accounts Receivable $1,200 • Accounts Payable $20,200 • Advertising Expense $750 • Cash $28,600 • Cost of Goods Sold S8,800 • Drawings by Owner $1,625 • Equipment $5,150 • Interest Expense $300 • Interest Payable $300 • Inventory $3,900 • Investments by Owner $10,000 • Rent Expense $3,600 • Sales Returns $600 Sales Revenue $11,900 • Service Revenue $20,750 Supplies S600 Supplies Expense $2,025 Utilities Expense $600 Wages Expense S5,400
What is total asstst, Liabilities and owners equity? Show Solutions.
Click on the icons located on the top-right corners of the data tables below to copy their contents into a spreadsheet. Income Statement Balance Sheet Sales $202,590 Assets Cash and Equivalents Accounts Receivable Costs Except Depreciation $14,950 (99,910) $102,680 EBITDA 1,980 (5,940) $96,740 4,100 $21,030 Depreciation Inventories EBIT Total Current Assets Property, Plant, and Equipment Interest Expense (net) (490) 9,990 Pre-tax Income $96,250 Total Assets $31,020 (33,688) $62,562 Income Tax Liabilities and Equity. Accounts Payable Net Income $1,550 4,080 $5,630 Debt Total Liabilities Stockholders' Equity Total Liabilities and Equity 25,390 $31,020 For the next fiscal year, you forecast net income of $49,600 and ending assets of $508,300. Your firm's payout ratio is 10.6%. Your beginning stockholders' equity is $299,900, and your beginning total liabilities are $120,400. Your non-debt liabilities such as accounts payable are forecasted to increase by $10,400. Assume your beginning…
Make a statement of financial position with this given table.
Use the information provided for Harding Company to answer the question that follow. Harding Company Accounts payable $26,136 Accounts receivable 71,999 Accrued liabilities 6,575 Cash 16,008 Intangible assets 40,514 Inventory 77,552 Long-term investments 102,623 Long-term liabilities 70,943 Notes payable (short-term) 25,456 Property, plant, and equipment 674,580 Prepaid expenses 2,265 Temporary investments 32,175 Based on the data for Harding Company, what is the amount of quick assets? a.$120,182 b.$48,183 c.$800,315 d.$1,618,032
Use the information below for Harding Company to answer the question that follow. Harding Company Accounts payable $39,415 Accounts receivable 65,067 Accrued liabilities 6,195 Cash 21,671 Intangible assets 41,052 Inventory 85,290 Long-term investments 108,065 Long-term liabilities 73,110 Marketable securities 37,849 Notes payable (short-term) 25,011 Property, plant, and equipment 697,185 Prepaid expenses 2,218 Based on the data for Harding Company, what is the amount of working capital? a.$694,967 b.$212,095 c.$141,474 d.$1,058,397
Lincraft Corp. reports a current ratio of 3-to-1 in its 20X2 financial statements. The statement of financial position shows current assets of $3,140,500 and current liabilities of $1,064,100. Lincraft has accounts receivable of $1,299,300. The company transfers $1,002,000 of these accounts receivable to a financial institution. There are $35,200 of bad debts associated with these accounts receivable, an amount that is already in the allowance for doubtful accounts. Proceeds of $898,250 are received from the transfer. The transfer is on a non-notification basis, which means that the customers pay Lincraft and Lincraft then remit the cash to the financial institution. The customers pay $946,000 to Lincraft on schedule, $35,200 is written off to the allowance at the appropriate time, and the cash remittance is forwarded to the financial institution. Required: 1. Record all journal entries for the sequence of events assuming: a. The transfer is recorded as a sale/derecognition. (If no…
Use the information below for Harding Company to answer the question that follow. Harding Company Accounts payable $32,441 Accounts receivable 62,838 Accrued liabilities 6,445 Cash 23,006 Intangible assets 41,037 Inventory 84,374 Long-term investments 95,861 Long-term liabilities 72,719 Marketable securities 34,097 Notes payable (short-term) 29,992 Property, plant, and equipment 694,005 Prepaid expenses 1,051 Based on the data for Harding Company, what is the amount of quick assets?
Prepare the financial statements. Thank you.
Use the information provided for Harding Company to answer the question that follow. Harding Company Accounts payable $38,916 Accounts receivable 74,415 Accrued liabilities 6,825 Cash 21,504 Intangible assets 44,690 Inventory 86,306 Long-term investments 96,392 Long-term liabilities 73,076 Notes payable (short-term) 27,058 Property, plant, and equipment 640,527 Prepaid expenses 1,874 Temporary investments 39,418 Based on the data for Harding Company, what is the amount of working capital? Oa. $1,005,126 Ob. $638,653 c. $150,718 Od. $223,517
Assume the owner invested $10.00. Make a financial statement. Please include a multiple- step. Income Statement of Owner's Equity and classified Balance Sheet.
Subject - account Please help me. Thankyou.