Financial Accounting: The Impact on Decision Makers
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN: 9781305654174
Author: Gary A. Porter, Curtis L. Norton
Publisher: Cengage Learning
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Chapter 1, Problem 1.5P

Income Statement, Statement of Retained Earnings, and Balance Sheet

The following list, in alphabetical order, shows the various items that regularly appear on the financial statements of Maple Park Theatres Corp. The amounts shown for balance sheet items are balances as of September 30, 2016 (with the exception of retained earnings, which is the balance on September 1, 2016), and the amounts shown for income statement items are balances for the month ended September 30, 2016.

Chapter 1, Problem 1.5P, Income Statement, Statement of Retained Earnings, and Balance Sheet The following list, in

Required

  1. Prepare an income statement for the month ended September 30, 2016.
  2. Prepare a statement of retained earnings for the month ended September 30, 2016.
  3. Prepare a balance sheet at September 30, 2016.
  4. You have $1,000 to invest. On the basis of the statements you prepared, would you use it to buy stock in Maple Park? Explain. What other information would you want before making a final decision?

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Liverton Co.’s income statement for the year ended 31 March 2019 and statements of financial position at 31 March 2019 and 2018 were as follows in the images. Calculate for the financial year ended 31 March 2019 and, where possible, for 31 March 2018, the following ratios: i) Gross profit marginii) Assets usageiii) Current ratioiv) Acid testv) Inventories holding periodvi) Debt to Equity ratio
epare an income statement for the year ended December 31, 2018, which includes amounts gross profit, income before income taxes, and net income. List expenses (other than cost of for goods sold and income tax expense) in order, from the largest to the smallest dollar balance. You may ignore earnings per share. pare a statement of retained earnings for the year ending December 31, 2018. Prepare thes a statement of financial position (balance sheet) as of December 31, 2018, following Include separate asset and liability categories for those items that are "current." Include and label amounts for total assets, total liabilities, total stockholders' equity, and total liabilities and stockholders' equity. Present deferred income taxes as a noncurrent liability. To the extent information is available that should be disclosed, include the parenthetical disclosure of that information.
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Financial Accounting: The Impact on Decision Makers

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The KEY to Understanding Financial Statements; Author: Accounting Stuff;https://www.youtube.com/watch?v=_F6a0ddbjtI;License: Standard Youtube License