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- VinubhaiThe following information is taken from the records of Rosebloom Flowers for the year 2019. A. Calculate net income or net loss for January. B. Calculate net income or net loss for February. C. Calculate net income or net loss for March. D. For each situation, comment on how a stakeholder might view the firms performance. (Hint: think about the source of the income or loss.)Please solve this question Financial data for Safety Hire as of 30 June 2019 are: Data Prepare an income statement for the month of June and a balance sheet in account format for Safety Hire as at 30 June 2019. Data available in the image thnkx
- 33 Calorie Catering completed the following selected transactions during May 2024: (Click the icon to view the transactions.) Read the requirements Requirement 1. Show whether each transaction would be handled as a revenue or an expense using both the cash basis and accrual basis accounting systems by completing the table provided. (Expenses should be shown in parentheses.) Also indicate the dollar amount of the revenue or expense. The May 1 transaction has been completed as an example. (Enter "0" for any transactions that do not affect revenues or expenses.) Date May 1 Help me solve Amount of Revenue (Expense) for May Cash Basis Amount of Revenue (Expense) $ (1,500) More info May 1 May 5 May 9 May 14 May 23 May 31 May 31 May 31 Accrual Basis Amount of Revenue (Expense) $ 0 Prepaid rent for three months, $1,500. Received and paid electricity bill, $400. Received cash for meals served to customers, $2,700. Paid cash for kitchen equipment, $3,120. Served a banquet on account, $2,900.…View Policies Show Attempt History Current Attempt in Progress The following information is available for Coronado Corporation for 2020. Depreciation reported on the tax return exceeded depreciation reported on the income statement by $114,000. This difference will reverse in equal amounts of $28,500 over the years 2021-2024. 1. 2. Interest received on municipal bonds was $10,200. Rent collected in advance on January 1, 2020, totaled $61,800 for a 3-year period. Of this amount, $41,200 was reported as unearned at December 31, 2020, for book purposes. 3. 4. The tax rates are 40% for 2020 and 35% for 2021 and subsequent years. 5. Income taxes of $308,000 are due per the tax return for 2020. 6. No deferred taxes existed at the beginning of 2020.Using the attached financial statement footnote. Explain why the application of time value is appropriate to account for the transaction.
- Questions about the Income Statement. a. List 2 expense accounts AND their amounts for 2020. b. What was the net profit/(loss) for 2020? What about 2019?c. Compared with 2019, has the net profit/(loss) increased or decreased? . Questions about the Statement of Financial Positiona. What was the Total Assets for the company at December 31, 2020? What about December 31, 2019? b. Mention the biggest liability with its amount for the company at December 31, 2020.c. What was the Total Equity for the company at December 31, 2020? What about December 31, 2019? . please help me answering both sectionsLaura Hall is the sole owner of Wildhorse Vista Park, a public camping ground near the Crater Lake National Recreation Area. Laura has compiled the following financial information as of December 31, 2022. Revenues during 2022-camping fees Revenues during 2022-general store Accounts payable Cash on hand Original cost of equipment (a) Net income $ (b) Cash Accounts Receivable Determine Laura Hall's net income from Wildhorse Vista Park for 2022. Equipment Total Assets Liabilities Accounts Payable Notes Payable Total Liabilities Owner's Equity Owner's Capital $152,446 59,889 Prepare a balance sheet for Wildhorse Vista Park as of December 31, 2022. (List Assets in order of liquidity.) 70,778 11,978 Total Liabilities and Owner's Equity 25,045 114,879 Fair value of equipment Notes payable Expenses during 2022 Accounts receivable December 31, 2022 WILDHORSE VISTA PARK Balance Sheet Assets Liabilities and Owner's Equity $152,446 $ 65,334 163,335 19.056 25,045 19,056 11,978 65,334 77,312 81,668Following are the current asset and current liability sections of the balance sheets for Freedom Inc. at January 31, 2020 and 2019 (in millions): Current Assets Cash Accounts receivable Inventories Total current assets Current Liabilities Note payable Accounts payable Other accrued liabilities Total current liabilities January 31, 2020 Working capital Current ratio 6 EL EL $ 21 $ 15 January 31, 2019 01/31/2020 01/31/2019 9 18 $ 25 Required: a. Calculate the working capital and current ratio at each balance sheet date. (Enter "Working capital" in millions of dollars (1.e.. 10,000,000 should be entered as 10). Round your "Current ratio" to 2 decimal places.) $12 b. Evaluate the firm's liquidity at each balance sheet date. Based on the working capital and current ratio measures, the firm has become more liquid over the 2-year period. O Based on the working capital and current ratio measures, the firm has become less liquid over the 2-year period. c. Assume that the firm operated at a loss…
