Question
Can you please figure out the following? A. The net income is ___________________________. B. Ending Retained Earnings ____________________ C. Total Current assets _________________________ D. Total
Can you please figure out the following?
A. The net income is ___________________________. B. Ending Retained Earnings ____________________ C. Total Current assets _________________________ D. Total Current liabilities ______________________ E. Calculate the Current Ratio: _________________ F. Calculate the Debt to Assets Ratio: ___________________
Accounts Receivable $ 2,500
Insurance Expense 1,500
Accounts Payable 1,000
Land 25,000
Building 55,000
Office Supplies 500
Cash 6,000
Rent Expense 3,500
Common Stock 12/31/19 25,000
Retained earnings 12/31/19 15,000
Dividends (for the month) 3,000
Service Revenue 65,000
Income Tax Expense 2,000
Wages Expense 30,000
Income Tax Payable 1,000
Wages Payable 3,000
Accumulated Depreciation 5,000
Unearned Service Revenue 4,000
Building Inventory 10,000
Notes payable (due 2022) 22,000
Prepaid Insurance 2,000
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