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 Inventory Equipment Accounts Payable Cash Wages Рayable Common Retained Stock Earnings $50,000 (6,000) 50,000 6,000 22,000 22,000 1,250 (750) 1,250 (750) (600) (3,000) 3,200 (175) 600 3,000 3,200 175 (1,000) 1,000

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 Inventory Equipment Accounts Payable Cash Wages Рayable Common Retained Stock Earnings $50,000 (6,000) 50,000 6,000 22,000 22,000 1,250 (750) 1,250 (750) (600) (3,000) 3,200 (175) 600 3,000 3,200 175 (1,000) 1,000

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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 t

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 5PA: Identify the financial statement on which each of the following account categories would appear: the...

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Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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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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