Chapter 1, Problem 10BE

The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 2019: 1. Prepare a multiple-step income statement.2. Prepare a statement of owner’s equity.3. Prepare a balance sheet, assuming that the current portion of the note payable is$7,000.4. Briefly explain how multiple-step and single-step income statements differ.

An analysis of the transactions of Cavernous Homes Inc. yields the following totals at December 31, 2019: cash, $3,200; accounts receivable, $4,500; notes payable, $5,000; supplies, $8,100; common stock, $7,000; and retained earnings, $3,800.Required:Prepare a balance sheet for Cavernous Homes Inc. at December 31, 2019.

Please create a balance sheet and income statement in an excel sheet from the following information: As of December 31, 2019, Armani Company's financial records show the following items and amounts     Cash  $       10,000 Acount receivable  $         9,000 Supplies  $         6,000 Equipment  $         5,000 Account payable  $       11,000 A.Armani, Capital, Dec 31, 2018  $       16,000 A.Armani, Capital, Dec 31, 2019  $       19,000 A.Armani, Withdrawals  $       13,000 Consulting revenue  $       33,000 Rental revenue  $       22,000 Salaries Expense  $       20,000 Rent Expense  $       12,000 Selling and administrative expenses  $         8,000

Given the ledger accounts of Bastoni Company as of January 31, 2020: Cash $40,500 Accounts Payable $11,000 Supplies 5,200 Rent Expense 4,100 Share Capital-Ordinary 33,200 Accounts 8,700 Receivable Notes Payable 3,500 Service Revenue 10,800 Required: Compute the total of the debit side of the trial balance. (show your computation). 1. Compute the total of the credit side of the trial balance. (show your computation). 2.

Prepare a Balance Sheet using the following information for the Ginger Company as of March 31, 2019. When listing accounts for each category, you are to insert them in the order in which they are listed here. If used, type in the account names exactly as written here. Account Normal Balances Accounts Payable $1,730 Cash $11,050 Ginger Ale, Capital March 1 $17,300 Inventory $8,230 Wages Payable $2,150 Sales $13,600 Product Expenses $8,200 Ginger Ale, Capital March 31 $22,700 Equipment $7,300 PLEASE NOTE: When you fill in the dollar amounts, you must include a $ and commas as needed (i.e., $1,234). Assets: Total Assets Liabilities: Total Liabilities Owner's Equity: Total Liabilities and Owner's Equity

Look at the financial statements. What is the analysis on each of the following: Income Statement, Balance Sheet, Statement of Owner’s equity, and Statement of Cash flow.

The bookkeeper for Stellar Company has prepared the following balance sheet as of July 31, 2020. STELLAR COMPANYBALANCE SHEETAS OF JULY 31, 2020 Cash   $  70,190   Notes and accounts payable   $  45,190 Accounts receivable (net)   41,690   Long-term liabilities   76,190 Inventory   61,190   Stockholders’ equity   156,690 Equipment (net)   84,000       $ 278,070 Patents   21,000             $ 278,070         The following additional information is provided. 1.   Cash includes $ 1,200 in a petty cash fund and $ 11,890 in a bond sinking fund. 2.   The net accounts receivable balance is comprised of the following two items: (a) accounts receivable $ 45,190 and (b) allowance for doubtful accounts $ 3,500. 3.   Inventory costing $ 4,991 was shipped out on consignment on July 31, 2020. The ending inventory balance does not include the consigned goods. Receivables in the amount of $ 4,991 were recognized on these consigned goods. 4.   Equipment had a cost of $…

Given the ledger accounts of Barella Company as of January 31, 2020: Accounts Payable $3,000 Rent Expense $5,600 Accounts Receivable 4,400 Service Revenue 10,400 Cash 8,800 Supplies 2,200 Share Capital-Ordinary 5,200 Notes Payable 2,400 Compute the total of the credit side of the trial balance. (show your computation). A. 22,000 B. 28,000 C. 26,000 O D. 21,000

The bookkeeper for Geronimo Company has prepared the following balance sheet as of July 31, 2020. Geronimo CompanyBalance SheetAs of July 31, 2020 Cash    $ 69,000    Notes and accounts payable    $ 44,000 Accounts receivable (net) 40,500 Long-term liabilities 75,000 Inventory 60,000 Stockholders' equity  155,500 Equipment (net) 84,000   $274,500 Patents   21,000          $274,500           The following additional information is provided. 1.    Cash includes $1,200 in a petty cash fund and $15,000 in a bond sinking fund. 2.    The net accounts receivable balance is comprised of the following two items: (a) accounts receivable $44,000 and (b) allowance for doubtful accounts $3,500. 3.    Inventory costing $5,300 was shipped out on consignment on July 31, 2020. The ending inventory balance does not include the consigned goods. Receivables in the amount of $5,300 were recognized on these consigned goods. 4.    Equipment had a cost of $112,000 and an accumulated…