Triton Consulting is a consulting firm owned and operated by Jayson Neese. The folloving end-of-period spreadsheet was prepared for the year ended April 30, 20v3: During the year ended April 30, 20V3, common stock of $5.000 was issued. Triton Consulting End-of-Period Spreadsheet For the Year Ended April 30, 20Y3 Unadjusted Adjusted Trial Balance Adjustments Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 21.500 21,500 Accounts Receivable 51,150 51,150 Supplies 2,400 1,650 750 Office Equipment 32,000 32.000 Accumulated Depreciation 4,500 900 5,400 Accounts Payable 3,350 3,350 Salaries Payable 2.000 2.000 Common Stock 20,000 20,000 Retained Eamings 52.200 52.200 Dividends 10.000 10.000 Fees Earned 279.000 279.000 Salary Expense 240,000 2,000 242.000 Supplies Expense 1,650 1,650 Depreciation Expense 900 900 Miscellaneous Expense 2,000 2,000 359.050 359,050 4,550 4,550 361.950 361,950 Based on the preceding spreadsheet, prepare an income statement for Triton Consulting. Triton Consulting Income Statement For the Year Ended April 30, 20Y3 Expenses: Total expenses

Triton Consulting is a consulting firm owned and operated by Jayson Neese. The folloving end-of-period spreadsheet was prepared for the year ended April 30, 20v3: During the year ended April 30, 20V3, common stock of $5.000 was issued. Triton Consulting End-of-Period Spreadsheet For the Year Ended April 30, 20Y3 Unadjusted Adjusted Trial Balance Adjustments Trial Balance Account Title Dr. Cr. Dr. Cr. Dr. Cr. Cash 21.500 21,500 Accounts Receivable 51,150 51,150 Supplies 2,400 1,650 750 Office Equipment 32,000 32.000 Accumulated Depreciation 4,500 900 5,400 Accounts Payable 3,350 3,350 Salaries Payable 2.000 2.000 Common Stock 20,000 20,000 Retained Eamings 52.200 52.200 Dividends 10.000 10.000 Fees Earned 279.000 279.000 Salary Expense 240,000 2,000 242.000 Supplies Expense 1,650 1,650 Depreciation Expense 900 900 Miscellaneous Expense 2,000 2,000 359.050 359,050 4,550 4,550 361.950 361,950 Based on the preceding spreadsheet, prepare an income statement for Triton Consulting. Triton Consulting Income Statement For the Year Ended April 30, 20Y3 Expenses: Total expenses

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.6E

See similar textbooks

Similar questions

Financial statements from the end-of-period spreadsheetDemo Consulting is a consulting firm owned and operated by Jesse Flatt.The following end-ofperiod spreadsheet was prepared for the yearended August S1, 20Y9: Based on the preceding spreadsheet, prepare an income statement,statement of stockholders' equity, and balance sheet for DemoConsulting. During the year ended August 31, 2019, $15,000 of additionalcommon stock was issued.
Refer to the 10-K for Abercrombie & Fitch. Required: 1. What does the company report for the following accounts for the most current fiscal year: Enter your answer in thousands. a. Cash b. Short-term investments (or marketable securities) c. Accounts receivable d. Inventory e. Other current assets f. Accounts payable g. Other current liabilities h. Cash flow from operations A A AA A A 好 2. The company projects the following to occur in the next fiscal year: • Accounts payable will decrease by 25%. • Other current liabilities are expected to increase by 33%. • Cash flow from operations is expected to decrease by 32%. Assume all other items remain unchanged from the prior year. Provide the next year's forecasted balances for the following accounts and cash flow from operations.
Financial statements from the end-of-period spreadsheetTriton Consulting is a consulting firm owned and operated by JaysonNeese. The following end-of-period spreadsheet was prepared for theyear ended April 30, 20Y3: Based on the preceding spreadsheet, prepare an income statement,statement of stockholders' equity, and balance sheet for TritonConsulting. During the year ended April 30, 20Y3, common stock of$5,000 was issued.
Assume that Denis Savard Inc. has the following accounts at the end of the current year. 1. Common Stock. 2. Discount on Bonds Payable. 3. Treasury Stock (at cost). 4. Notes Payable (short-term). 5. Raw Materials. 6. Preferred Stock Investments (long-term). 7. Unearned Rent Revenue. 8. Work in Process. 9. Copyrights. 10. Buildings. 11. Notes Receivable (short-term). 12. Cash. 13. Salaries and Wages Payable. 14. Accumulated Depreciation—Buildings. 15. Restricted Cash for Plant Expansion. 16. Land Held for Future Plant Site. 17. Allowance for Doubtful Accounts. 18. Retained Earnings. 19. Paid-in Capital in Excess of Par—Common Stock. 20. Unearned Subscriptions Revenue. 21. Receivables—Officers (due in one year). 22. Inventory (finished goods). 23. Accounts Receivable. 24. Bonds Payable (due in 4 years). 25. Noncontrolling Interest. Instructions Prepare a classified balance sheet in good form. (No monetary amounts…
Assume that Denis Savard Inc. has the following accounts at the end of the current year. 1. 2. 3. 4 5. 6. 7. 8. 9. 10. 11. 12. Common Stock. Discount on Bonds Payable. Treasury Stock (at cost). Notes Payable (short-term). Raw Materials. Equity Investments (long-term). Unearned Rent Revenue. Work in Process. Copyrights. Buildings. Notes Receivable (short-term). Cash. Current Assets Cash 13. Less 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. Prepare a classified balance sheet in good form. (No monetary amounts are necessary.) (For Land, Treasury Stock, Notes Payable, Preferred Stock Investments, Notes Receivable, Receivables-Officers, Inventory, Bonds Payable, and Restricted Cash, enter the account name only and do not provide the descriptive information provided in the question.) Salaries and Wages Payable. Accumulated Depreciation-Buildings. Restricted Cash for Plant Expansion.. Land Held for Future Plant Site. Allowance for Doubtful Accounts. Retained Earnings. Paid-in Capital in Excess…
Financial statementsThe assets and liabilities of Global Travel Agency on December 31, 20Y5.and its revenue and expenses for the year are as follows: Accounts payableAccounts receivableCashCommon stockFees earnedLandMiscellaneous expense Rent expenseSuppliesSupplies expenseUtilities expenseWages expense $ 108,000539,000200,000575,000940,0001,500,000$ 19,50056,0006,00012,70034,80415,000 Common stock was $525,000 and retained earnings was $1,250,000 as ofJanuary 1. 20Y5. During the year, additional common stock of $50,000was issued for cash, and dividends of $90,000 were paid. Instructions1. Prepare an income statement for the year ended December 31.20Y5.2. Prepare a statement of stockholders' equity for the year ended December 31. 2015.3. Prepare a balance sheet as of December 31, 20Y5.4. What items appears on both the statement of stockholders'equity and the balance sheet?
From the following data relating to assets of Balance sheet of Max Ltd for the period ended 31st March, 20 to 31st March, 22. Calculate Trend percentage & interpret on it. Particulars 31st Mar,20 31st Mar,21 31st Mar,22 Debtors 20 30 20 Cash 30 20 15 Stock 60 80 70 Investment 80 80 90 Machine 100 200 100 Building 150 250 250 Furniture 200 300 500
The following data were taken from the comparative balance sheet of Osborn Sisters Company for the years ended December 31, 20Y9 and December 31, 20Y8: Dec. 31, 20Y9 Dec. 31, 20Y8Cash $399,800 $300,000 Temporary investments 426,700 328,700 Accounts and notes receivable (net) 392,500 358,300 Inventories 548,600 444,200 Prepaid expenses 299,400 166,800 Total current assets $2,067,000 $1,598,000 Accounts payable $307,400 $329,000 Accrued liabilities 222,600 141,000 Total current liabilities $530,000 $470,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. 20Y9 20Y8Working capital $$Current ratio Quick ratio b. The liquidity of Osborn Sisters Company has from 20Y8 to the 20Y9. The working capital, current ratio, and quick ratio have all . Most of these changes are the result of .
The comparative balance sheet of Canace Products Inc. for December 31, 20Y6 and 20Y5, is as follows:
The following data (in millions) were taken from the financial statements of Costco Wholesale Corporation: a. For Costco, determine the amount of change in millions and the percent of change (round to one decimal place) from the prior year to the recent year for: 1. Revenue 2. Operating expenses 3. Operating income b. Comment on the results of your horizontal analysis in part (a). c. Based upon Exercise 2-23, compare and comment on the operating results of Target and Costco for the recent year.
The following data were taken from the comparative balance sheet of Osborn Sisters Company for the years ended December 31, 20Y9 and December 31, 20Y8: Dec. 31, 20Y9 Dec. 31, 20Y8 Cash $608,800 $459,600 Temporary investments 649,600 503,500 Accounts and notes receivable (net) 597,600 548,900 Inventories 835,200 680,400 Prepaid expenses 380,800 215,600 Total current assets $3,072,000 $2,408,000 Accounts payable $371,20 $392,000 Accrued liabilities 268,800 168,000 Total current liabilities $640,000 $560,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place. 20Y9 . 20Y8 Working capital Current ratio Quick ratio b. The liquidity of Osborn Sisters Company has from 20Y8 to the 20Y9. The working capital, current ratio, and quick ratio have all Most of these changes are the result of
The following data were taken from the comparative balance sheet of Icon Living, Inc., for the years ended December 31, 20Y9 and December 31, 20Y8: Dec. 31, 20Y9 Dec. 31, 20Y8 Cash $262,400 $202,800 Temporary investments 280,000 222,100 Accounts and notes receivable (net) 257,600 242,100 Inventories 360,000 300,200 Prepaid expenses 184,000 105,800 Total current assets $1,344,000 $1,073,000 Accounts payable $185,600 $203,000 Accrued liabilities 134,400 87,000 Total current liabilities $320,000 $290,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place provide a solution