ngagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator-assignment-take&lhpluyls: 4/7 itemsnt Score: 31.41%eBookNature of transactionsShow Me HowTeri West operates her own catering service. Summary financial data for July are presented in equation form as follows. Each line designated by a number indicates the effect of atransaction on the equation. Each increase and decrease in stockholders' equity, except transaction (5), affects net income.Stockholders' EquityAssets=1Liabilities +Bal. 40,800Cash + Supplies +5,300Land=Accounts Payable +Common Stock + Retained EarningsDividends + Fees EarnedExpenses102,00011,00072,10065,00047,7001.+47,7002.-20,400+20,400-35,5003.-35,5004.+2,000+2,000-2,7005.-2,7006.-9,800-9,8007.-4,100Bal.20,1003,200122,4003,20072,10065,000-2,70047,700-4,100.-39,600a. (1) Select the description for transaction 1.a. (2) Select the description for transaction 2.,a. (3) Select the description for transaction 3.Check My Work 5 more Check My Work uses remaining.PreviousNextSave and ExitAll work saved.Submit Assignment for GradingQ SearchADIAENG9:57 PM8/18/2024

Step 1:1)Transaction 1:Cash: +47,700Fees Earned: +47,700Description:This likely represents the…

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Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter4: Merchandising Company Financial Statements (fmerch)

Section: Chapter Questions

Problem 2R: The following information is for Bonnies Buds, a nursery and floral shop, for the month ended May...

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Refer to the following selected financial information from Weekend Getaways Incorporated Compute the company's days' sales uncollected for Year 2. (Use 365 days a year.) Accounts receivable, net Net sales Multiple Choice O O 39.9. 43.8. 45.5. 38.4. 42.7. Year 2 98,760 823,000 Year 1 86,600 793,000
The following information is for Bonnies Buds, a nursery and floral shop, for the month ended May 31, 2012: Open the file FMERCH from the website for this book at cengagebrain.com. Enter all formulas and titles where indicated on the worksheet. For example, FORMULA2 is =G29 and TITLE A is Sales Discount. When you are finished, make sure that your balance sheet balances. Enter your name in cell A1. Save your completed file as FMERCH2. Print the worksheet. Also print your formulas. Check figure: Total assets (cell G101), 545,880.
Review the select information for Liquor Plaza and Beer Buddies (industry competitors) and complete the following. A. Compute the accounts receivable turnover ratios for each company for 2018 and 2019. B. Compute the number of days sales in receivables ratios for each company for 2018 and 2019. C. Determine which company is the better investment and why. Round answers to two decimal places.
Sage Learning Centers was established on July 20, 2016, to provide educational services. The services provided during the remainder of the month are as follows: Instructions 1. Journalize the transactions for July, using a single-column revenue journal and a two-column general journal. Post to the following customer accounts in the accounts receivable ledger, and insert the balance immediately after recording each entry: D. Chase; J. Dunlop; F. Mintz; T. Quinn; K. Tisdale. 2. Post the revenue journal and the general journal to the following accounts in the general ledger, inserting the account balances only after the last postings: 3. a. What is the sum of the balances of the customer accounts in the subsidiary ledger at July 31? b. What is the balance of the accounts receivable controlling account at July 31? 4. Assume Sage Learning Centers began using a computerized accounting system to record the sales transactions on August 1. What are some of the benefits of the computerized system over the manual system?
Need help with this question please. Thank you
Please calculate the ratio and percentage for: 1. acid-test ratio 2. Time interest earned 3. Earnings per common share
The financial statements of Dandy Distributors Ltd. are shown on the "Fcl. Stmts." page. 1 Based on Dandy's financial statements, calculate ratios for the year ended December 31, 2020. Assume all sales are on credit. Show your work. 2 From these ratios, analyze the financial performance of Dandy.
The following information is for Bonnies Buds, a nursery and floral shop, for the month ended May 31, 2012: Click the Chart sheet tab on the FMERCH3 file. You will see a chart depicting the five-month trend in sales, gross profit, and net income. What favorable and unfavorable trends do you see in this month-to-month comparison? Comment on any unusual changes. When the assignment is complete, close the file without saving it again. Worksheet. Your boss would prefer to have the balance sheet shown before the income statement and the statement of retained earnings. Please make this change on the FMERCH3 file. Preview the printout to make sure that the worksheet will print neatly on two or three pages, and then print the worksheet. Save the completed file as FMERCHT. Chart. Using the FMERCH3 file, prepare a 3-D pie chart that shows the amount of each of the selling expenses in June. No Chart Data Table is needed. Select A57 to A62 as one range on the worksheet to be charted and then hold down the CTRL key and select E57 to E62 as the second range. Enter your name somewhere on the chart. Save the file again as FMERCH3. Select the chart and then print it out.
Answer full question please.
Review the select information for Bean Superstore and Legumes Plus (industry competitors), and then complete the following. A. Compute the accounts receivable turnover ratios for each company for 2018 and 2019. B. Compute the number of days sales in receivables ratios for each company for 2018 and 2019. C. Determine which company is the better investment and why. Round answers to two decimal places.
dathy Hansen has a revolving credit account. The finance charge is calculated on the previous month's balance, and the annual percentage rate is 27%. Complete the account activity table for Kathy. Month PreviousMonth'sBalance FinanceCharge(in $) Purchasesand CashAdvances Paymentsand Credits New BalanceEnd of Month(in $) March $640.00 $ $123.97 $75.00 $
Use the following selected data from Business Solutions's income statement for the three months ended March 31, 2022, and from its Complete this question by entering your answers in the tabs below. March 31, 2022, balance sheet to complete the requirements. Computer services revenue Net sales (of goods) Total sales and revenue Cost of goods sold. Net income Quick assets Current assets Total assets Current liabilities Total liabilities. Total equity Required 1 Required: 1. Compute the gross margin ratio (both with and without services revenue) and net profit margin ratio. 2. Compute the current ratio and acid-test ratio. 3. Compute the debt ratio and equity ratio. 4. What percent of its assets are current? What percent are long term? Required 2 Complete this question by entering your answers in the tabs below. $ 25,307 18,693 44,000 Required 3 Gross margin ratio Net profit margin ratio 14,052 18,833 90,924 95,568 120,268 875 875 119,393 % Compute the gross margin ratio (both with and…

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