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. Cash $50,000 (6,000) 6,000 1,250 (750) Assets Liabilities Inventory Equipment Accounts Wages Payable Payable 3,200 (1.000) 22,000 1,000 22,000 600 175 3,000 Owner's Equity Common Stock 50,000 Retained Earnings 1,250 (750) (600) (3,000) 3.200 (175)

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. Cash $50,000 (6,000) 6,000 1,250 (750) Assets Liabilities Inventory Equipment Accounts Wages Payable Payable 3,200 (1.000) 22,000 1,000 22,000 600 175 3,000 Owner's Equity Common Stock 50,000 Retained Earnings 1,250 (750) (600) (3,000) 3.200 (175)

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Description: Complete the following problem in Excel. Use a different tab for each financialstatement.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

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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