plies toN.]organizeder 3, thei assets toember 31,the$ 15,20012,410 Consulting revenue1,77046,080 Salaries expense16,450 Telephone expense6,060 Miscellaneous expenses82,650Cash withdrawals by owner$ 46012,4102,1405,300Rent expense750560e a DecemberIG Required information[The following information applies tothe questions displayed below.]On December 1, Jasmin Ernst organizedErnst Consulting. On December 3, theowner contributed $82,650 in assets tolaunch the business. On December 31,the company's records show thefollowing items and amounts.$ 15,200 Cash wit12,410 Consulti1,770 Rent exp46,080 Salaries16,450 Telephon6,060 Miscella82,650CashAccounts receivableOffice suppliesLandOffice equipmentAccounts payableOwner investmentsUsing the above information prepare a Decemberincome statement for the business.ERNST CONSULTINGIncome Statement

Name: plies toN.]organizeder 3, thei assets toember 31,the$ 15,20012,410 Co
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Description: plies toN.]organizeder 3, thei assets toember 31,the$ 15,20012,410 Consulting revenue1,77046,080 Salaries expense16,450 Telephone expense6,060 Miscellaneous expenses82,650Cash withdrawals by owner$ 46012,4102,1405,300Rent expense750560e a DecemberIG

Net income = Total revenue - Total expenses

Business

Accounting

plies to N.] organized er 3, the i assets to ember 31, the $ 15,200 12,410 Consulting revenue 1,770 46,080 Salaries expense 16,450 Telephone expense 6,060 Miscellaneous expenses 82,650 Cash withdrawals by owner $ 460 12,410 2,140 5,300 Rent expense 750 560 e a December

plies to N.] organized er 3, the i assets to ember 31, the $ 15,200 12,410 Consulting revenue 1,770 46,080 Salaries expense 16,450 Telephone expense 6,060 Miscellaneous expenses 82,650 Cash withdrawals by owner $ 460 12,410 2,140 5,300 Rent expense 750 560 e a December

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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#9 O Item Prior year Current year Accounts payable 8,113.00 7,909.00 Accounts receivable 6,029.00 6,555.00 Accruals 999.00 1,352.00 Cash ??? ??? Common Stock 11,096.00 12,144.00 COGS 12,698.00 18,074.00 Current portion long-term 4,971.00 4,959.00 debt Depreciation expense 2,500 2,836.00 Interest expense 733 417 Inventories 4,232.00 4,816.00 Long-term debt 14,899.00 14,036.00 Net fixed assets 50,114.00 54,819.00 Notes payable 4,323.00 9,810.00 Operating expenses (excl. 13,977 18,172 depr.) Retained earnings 28,849.00 29,434.00 Sales 35,119 46,806.00 Таxes 2,084 2,775 What is the firm's cash flow from investing? Submit Answer format: Number: Round to: 0 decimal places. unanswered not_submitted Attempts Remaining: Infinity
ACCT 2241.2 F Assignment #1 Chapter 1 Due date/time: Monday, January 22, 2024, 11:59 Jordan Corporation began operations on March 1, 2023. The following data is available for March 31: Accounts payable Accounts receivable Cash Contributed capital Expenses, excluding income taxes Income taxes, unpaid Inventory Revenues 43,000 22,000 10,000 1,000 80,000 4,000 27,000 95,000 Required: 1. Prepare the income statement for the month ending March 31, 2023. 2. Prepare the balance sheet for March 31, 2023.
B C M&S Partnership 1a Gross receipts Gross receipts or sales 534.410 b Less returns and allowances Cost of goods sold (attach Form 1125-A) Account Trial Balance December 31, 2023 Debit Credit Cash 23,140 Income Accounts and notes receivable 29,480 Furniture 68,910 8 Accumulated depreciation-furniture Prepaid assets 6,750 2,660 Long-term notes payable 14,700 Accounts payable 8,010 Other accrued current liabilities Stephanie Mulder, Capital 4,370 114,400 Stephanie Mulder, Drawing 22,840 53,550 Juan Scully, Drawing Sales 5,330 X 534,410 Sales returns and allowances 6,480 8,260 Business interest expense Partners' salaries 370,810 560 Deductions (see instructions for limitations) Gross profit. Subtract line 2 from line 1c. Ordinary income (loss) from other partnerships, estates, and trusts (attach statement) Net farm profit (loss) (attach Schedule F (Form 1040)) Net gain (loss) from Form 4797, Part II, line 17 (attach Form 4797) Other income (loss) (attach statement) Total income (loss).…
Safari 4:22 PM Tue Jan 30 < HW Set 1 (Ch 2 and 3) Template Calibri (Body) fx Enter text or formula here A 1 E 2.16 2 Information for Montgomery, Inc. 3 4 5 6 7 Cash 8 Accounts Receivable 9 Inventory 10 PP&E, net 11 Goodwill NOPAT for 2020 12 Other operating assets 13 A/P 14 Accrued Expenses and other 15 Unearned revenues 16 Long-term debt 17 Common stock 18 19 20 a. 21 NOA for 2019 22 NOA for 2020 23 24 b. 25 26 27 28 29 30 31 32 33 34 35 Retained earnings 2020 FCF E 2.16 E 2.17 E 3.15 11 B HE E 3.18 Home Insert $ BIU C 3,150 2019 3,590 5,650 10,240 21,840 13,160 3,450 10,400 10,350 3,120 7,680 18,840 7,540 + Draw Page Layout ABC 2020 4,260 8,340 11,460 26,110 14,310 4,720 13,310 13,740 4,770 8,350 18,930 10,100 ch LL F Formulas Data G Review View General H < E < H: AH L O M Σ ☎: 50% |||| O
LO 1,2,3 PROBLEM 54A The account balances of Bryan Company as of June 30, the end of the current fiscal year, are as follows: TRIAL BALANCE DEBIT CLGL ACCOUNT NAME Cash Accourts Receivable CREDIT 5.491.00 Supplies 10 624.00 30z00 1,280.00 Prepaid insurance Equipment 12 11 6.49700 Accumulated Depreciation, Equipment Van 2,672.00 10,989.00 13 Accumulated Depreciation, Van Accourts Payable 16 14 4,368 00 1,036.00 18.583.00 15 B. Bryan, Capital 17 B. Bryan, Drawing 18.000.00 18 Fees Earned 19 38,41700 18.600.00 1,88700 462.00 G85.00 164.00 65.076.00 Salaries Expense Advertising Expense Van Operating Expense 20 21 22 UNlities Expense Miscellaneous Expanse 23 24 25 HEH 65,076 00 Sheett Sheet2 Sheet3 Required 1. Data for the adjustments are as follows a. Expired or used up insurance, $495 b. Depreciation expense on equipment, $670. c. Depreciation expense on the van, $1,190. d. Salary accrued (earned) since the last payday, $s40 (owed and to be paid on the next payday). e. Supplies used…
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Week1/Chapter 2 Aagrmex O Qurstion 4-Ch 2- Finl. Stateme x C4 lem Simmone ls education.com/ext/man/inder.htmi.con condexternal browser olaunchUr http:62534%252F252Fne Statements & Cash Flow Seved Sheaves, Inc., has sales of $55,500, costs of $25,200, depreciation expense of $2,800, and interest expense of $2,550. If the tax rate is 24 percent, what is the operating cash flow, or OCF? (Do not round intermediate calculations.) Operating cash floe earch
Prepare the closing entries Cash P4,650Accounts Receivables 5,200Supplies 640Accounts Payable P2,500Unearned Revenue 200Capital 5,000 Drawings 2,000Miscellaneous Expense 400Service Revenue 7,640Salaries Expense 1,650Representation Expense 350Supplies Expense 3,050Salaries Payable 600
#8 O Item Prior year Current year Accounts payable 8,100.00 7,786.00 Accounts receivable 6,081.00 6,685.00 Accruals 1,000.00 1,553.00 Cash ??? ??? Common Stock 10,998.00 11,247.00 COGS 12,678.00 18,011.00 Current portion long-term 4,928.00 4,981.00 debt Depreciation expense 2,500 2,774.00 Interest expense 733 417 Inventories 4,250.00 4,824.00 Long-term debt 13,238.00 13,578.00 Net fixed assets 51,887.00 54,423.00 Notes payable 4,300.00 9,879.00 Operating expenses (excl. 13,977 depr.) 18,172 Retained earnings 28,209.00 29,224.00 Sales 35,119 45,333.00 Taxes 2,084 2,775 What is the firm's cash flow from financing? Submit Answer format: Number: Round to: 0 decimal places. unanswered not_submitted Attempts Remaining: Infinity
Question 13 Using the following balance sheet items and amounts, calculate the total liquid assets. • Money market account $4056 • Retirement account $17200 • Medical bills $120 • Checking account $8308 • Credit card balance $670 Your Answer: Answer
Q. 13
requirement 4 and 5 please