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Income statement is asked in question but informtion given is related to balance Sheet not related to income statement so iam preparing balance sheet Balance Sheet Assets Amount in $ Liabilites Amount in $ Non - Current Assets Building Equipment Non -Current Liabilites Long Term Loan Total Non -Current Liabilites 100000 100000 100000 100000 Total Fixed assets 200000 Current Liabilites Notes Payables Total Liabilites Equity Owners Equity Retained earnings Current Assets 20000 Account Recivables 10000 120000 Cash in Bank 20000 10000 100000 Total Assets 230000 Total Liabilites and Equity 230000

Income statement is asked in question but informtion given is related to balance Sheet not related to income statement so iam preparing balance sheet Balance Sheet Assets Amount in $ Liabilites Amount in $ Non - Current Assets Building Equipment Non -Current Liabilites Long Term Loan Total Non -Current Liabilites 100000 100000 100000 100000 Total Fixed assets 200000 Current Liabilites Notes Payables Total Liabilites Equity Owners Equity Retained earnings Current Assets 20000 Account Recivables 10000 120000 Cash in Bank 20000 10000 100000 Total Assets 230000 Total Liabilites and Equity 230000

FINANCIAL ACCOUNTING
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 the balance sheet that given, calculate and explain the

  •  Liability ratio
  • Asset ratio
  • Owners Equity ratio
Income statement is asked in question but informtion given is related to balance Sheet not related to income statement so iam preparing balance sheet Balance Sheet Amount in $ Liabilites Assets Non - Current Assets Building Equipment Total Fixed assets Amount in $ Non -Current Liabilites Long Term Loan Total Non -Current Liabilites 100000 100000 100000 100000 200000 Current Liabilites Notes Payables Total Liabilites Equity Owners Equity Retained earnings Current Assets Account Recivables Cash in Bank 20000 10000 120000 20000 10000 100000 Total Assets 230000 Total Liabilites and Equity 230000
Transcribed Image Text:Income statement is asked in question but informtion given is related to balance Sheet not related to income statement so iam preparing balance sheet Balance Sheet Amount in $ Liabilites Assets Non - Current Assets Building Equipment Total Fixed assets Amount in $ Non -Current Liabilites Long Term Loan Total Non -Current Liabilites 100000 100000 100000 100000 200000 Current Liabilites Notes Payables Total Liabilites Equity Owners Equity Retained earnings Current Assets Account Recivables Cash in Bank 20000 10000 120000 20000 10000 100000 Total Assets 230000 Total Liabilites and Equity 230000
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