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

w.com/takeAssignment/takeAssignmentMain.do?invoker= &takeAssign On the balance sheet, liabilities are generally classified as O legal or nonlegal. O probable or estimated. current or long-term. material or immaterial.

How are gain contigencies reported in the financial statements? a. a contingent account receivable b. an accrued revenue c. a deferred revenue d. not at all

Define these. a. Return on equityb. Total assets turnoverc. Return on assetsd. Current ratioe. Receivables turnover

Distinguishing between current and non-current items on the balance sheet and presenting a subtotal for current assets and liabilities is referred to as: C . a liquidity-based balance sheet

What adjustment(s) should be made to reconcile net income to net cash flows from operating activities (indirect method) considering the following balances in current assets?

Which of the following describes how assets are listed onthe balance sheet?a. In alphabetical order.b. In order of magnitude, lowest value to highestvalue.c. In the order they will be used up or turned intocash.d. From least current to most current

Question: What is the formula for calculating the current ratio? a. Current Assets / Current Liabilitiesb. Current Liabilities / Current Assetsc. Total Assets / Total Liabilitiesd. Total Liabilities / Total Assets

Classifying Balance Sheet Accounts Use the letters a to k from the balance sheet classifications provided below to indicate the usual classification for each of the 22 balance sheet items listed below. Also indicate whether an account is a contra account.  If the item is not a contra account, select "N/A" as your answer..   Balance Sheet Classification a. Current assets. g. Long-term liabilities. b. Investments. h. Paid-in capital. c. Property, plant, and equipment. i. Retained earnings. d. Intangible assets. j. Accumulated other comprehensive income. e. Other assets. k. Noncontrolling interests. f. Current liabilities.     Balance Sheet Item Classification Contra account 1. Accumulated depreciation. Answer Answer 2. Bonds payable (due in 10 years). Answer Answer 3. Accounts payable (trade). Answer Answer 4. Investment in stock of another company (long-term holding). Answer Answer 5. Land (in use). Answer Answer 6.…

Under which of the following categories would Accounts Receivable​ appear?     A. long−term assets   B. current assets   C. long−term liabilities   D. current liabilities