Balance sneet.Data table-x isInsurance Expense$10,000Accounts Receivable$12,000Cash35,000Notes Payable11,000Accounts Payable4,000Wood, Capital, Dec. 31, 2018?Advertising Expense1,800Salaries Expense20,000Service Revenue70,000Equipment32,200Wood, Withdrawals9,000Owner contribution25,000PrintDone Life Photography works weddings and prom-type parties. The balanceof Wood, Capital was $10,000 at December 31, 2017. At December31, 2018, the business's accounting records show these balances:Prepare the following financial statements forLife Photography for the year ended December 31, 2018:а.Income statement.E (Click the icon to view the accounts.)b. Statement of owner's equity.c.Balance sheet.a. Prepare Life Photography's income statement. (If a box is not used in the table leave the box empty; do not select a label or enter a zero.)Net Income

The financial statements of the business include the income statement, balance sheet and cash flow…

Data table Insurance Expense $ 10,000 Accounts Receivable $ 12,000 Cash 35,000 Notes Payable 11,000 Accounts Payable 4,000 Wood, Capital, Dec. 31, 2018 ? Advertising Expense 1,800 Salaries Expense 20,000 Service Revenue 70,000 Equipment 32,200 Wood, Withdrawals 9,000 Owner contribution 25,000

Data table Insurance Expense $ 10,000 Accounts Receivable $ 12,000 Cash 35,000 Notes Payable 11,000 Accounts Payable 4,000 Wood, Capital, Dec. 31, 2018 ? Advertising Expense 1,800 Salaries Expense 20,000 Service Revenue 70,000 Equipment 32,200 Wood, Withdrawals 9,000 Owner contribution 25,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Net income is to be answered for upvote.
Accounts payable $ 40,000 Accounts receivable 65,000 Accrued liabilities 7,000 Cash 30,000 Intangible assets 40,000 Inventory 72,000 Long-term investments 110,000 Long-term liabilities 75,000 Marketable securities 36,000 Notes payable (short-term) 30,000 Property, plant, and equipment 625,000 Prepaid expenses 2,000 Based on the above data, what is the amount of working capital? Group of answer choices
Accounts receivable $15,000 Property, plant, and equipment $200,000 Cash 17,000 Inventory 65,000 Other current assets 25,000 Other long-term assets 40,000 Accounts payable 21,000 Common stock 95,000 Long-term liabilities 55,000 Retained earnings Other current liabilities 18,000 Prepare a classified balance sheet for Werthman Company. Werthman Company Balance Sheet December 31 Assets Liabilities & Stockholders' Equity Current Assets: Current Liabilities: Cash 2$ 15,000 Accounts payable 2$ 21,000 Accounts receivable 17,000 Other current liabilities 18,000 Inventory 65,000 Total Current Liabilities 39,000 Other current assets 25,000 Noncurrent Liabilities: Total Current Assets 122,000 Long-term liabilities 55,000 Total Liabilities Noncurrent Assets: Stockholders' Equity Property plant and equipment 200,000 Common stock Other long-term assets 40,000 Total Noncurrent Assets 240,000 Total Stockholders' Equity Total Assets $ 0 Total Liabilities & Stockholders' Equity $
Net Income , SFP
Balance sheet.
On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances:Accounts Debit CreditCash $ 25,100Accounts Receivable 46,200Allowance for Uncollectible Accounts $ 4,200Inventory 20,000Land 46,000Equipment 15,000Accumulated Depreciation 1,500Accounts Payable 28,500Notes Payable (6%, due April 1, 2022) 50,000Common Stock 35,000Retained Earnings…
Mr. J, Capital Office Equipment Accounts Payable 85 000.00 Notes Receivable 12 000.00 Notes Payable 1 200.00 8 000.00 16 600.00 Interest Income 360.00 Communications Cash 18 540.00 1 250.00 Expense 21 500.00 Interest Expense Postage and Stamps Expense Tools 220.00 Mr. J, Drawing 10 000.00 50.00 Accounts 21 460.00 Insurance Expense 4 100.00 Receivable Mortgage Payable Loan Payable (Short Term) Service Income Furniture and Fixtures Salaries Expense 30 000.00 Service Vehicle 84 700.00 20 000.00 Utilities Expense 160.00 78 560.00 Supplies Expense 3 150.00 8 900.00 Shop Equipment 36 290.00 21 000.00 Rental Income 6 000.00 Net Inca me?
What is the amount of current assets, assuming the accounts Accounts Payable $12,000 Buildings 70,000 Cash 8,000 Accounts Recelvable 7,000 Seles Tex Payable 5,000 Retained Earnings 47,000 Supplies 2,000 Notes Payable (due in 18 months) Interest Payable 35,000 3,000 Common Stock 45,000
Al-Hofuf 100000 carry-over balance 100000 100000 100000 Transferred balance i Example: The following balances are extracted from the records of Al-Yaqeen commercial stores and homework (on 31/12/2009: 1500000 Fund, 2000000 Bank, 1100000 Debtors, 700000 Receipt Papers, 4000000 Goods, 7500000 Purchases, 3500000 Returns of Purchases) 1,200,000 inbound transportation expenses 400,000 customs taxes, 10,000,000 sales, 420,000 sales returns, 60,000 discounts allowed, 500,000 furniture, 450,000 tax, 300,000 general expenses, 650,000 selling expenses, 8,500,000 creditors, 65,000 payment papers, 100,000 deduction earned, 50,000 profits from selling assets Fixed, 6 million buildings, 2,000,000 cars, 300,000 personal withdrawals, 3,000,000 long-term loans, 13,000,000 capital. If you know that the goods at the end of the period are estimated after the inventory at 4,500,000 dinars. Required: Prepare trial balance with balances. : .6
Accounting Accounts payable $18,200 Accounts receivable 8,500 Accumulated depreciation—equipment 5,300 Bonds payable 17,500 Cash 25,000 Common stock 26,800 Cost of goods sold 28,800 Depreciation expense 5,000 Dividends 5,900 Equipment 45,500 Interest expense 2,300 Patents 7,260 Retained earnings, January 1, 2022 19,300 Salaries and wages expense 6,100 Sales revenue 53,800 Supplies 6,540 1. Find the Current ratio 2. Debt to assets ratio enter debt to assets ratio in percentages rounded to 1 decimal place % 3. Working capital $enter working capital in dollars 4. Earnings per share value plzz help me in these ratios thnx
answered Accounts Dr Marked out of Cash OMR 50,000 2.00 Accounts receivable 20,000 P Flag question Supplies 10,000 Prepaid expenses 12,000 Buildings-at cost 160,000 10,000 Accumulated depreciation - Buildings 30,000 Notes payable (due in 2 months) 30,000 Accounts payable 12,000 Interest payable 10,000 Unearned service revenue 120,000 Shared- Capital 100,000 Service revenues 40,000 Salaries Expenses 10,000 Depreciation Expenses 30,000 Utilities Expenses 10,000 Dividends / drawings 342,000 342,000 Total If this information was used to prepare a statement of financial position, Total Liabilities should be: Cull lis islO