Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I dont know the formula to get the answers if someone can start me off and explain. I could do the rest A Byte of

I dont know the formula to get the answers if someone can start me off and explain. I could do the rest
image text in transcribed
image text in transcribed
image text in transcribed
A Byte of Accounting, Inc. Income Statement For Year Ending December 31, 2022 Revenues Sales Revenue Cost of Goods Sold $224,170.00 Gross Profit $224,153.00 Operating Expenses Rent Expense Salary Expense Advertising Expense Repairs \& Maint. Expense Supplies Expense Insurance Expense Depreciation Expense Bad Debt Expense Telephone Expense Total Operating Expenses \begin{tabular}{|lr|} \hline$ & 28,800.00 \\ \hline$ & 114,240.00 \\ \hline$ & 4,735.00 \\ \hline$ & 15,005.00 \\ \hline$ & 2,880.00 \\ \hline$ & 275.00 \\ \hline$ & 11,278.39 \\ \hline$ & 847.55 \\ \hline$ & 5,970.00 \\ \hline \end{tabular} Income From Operations Before Interest and Income Taxes Interest Expense Net Income Before Tax Income Tax Expense (Rand lo tro decind ploces) Net Income After Tax 184,030.94 40,122.06 $8,780.14 S 31,341.92 7,835.48 S 23,506.44 Assets Current Assets Cash Accounts Receivable Allowance for Doubtful Accounts $228,264.60. Net Receivable Prepaid Insurance Prepaid Rent Office Supplies Inventory Total Current Assets \begin{tabular}{|r|r|} \hline 17,711.00 & \\ \hline 885.55 & \\ & 16,825.45 \\ & 6,325.00 \\ & 2,400.00 \\ & 470.00 \\ & 492.00 \\ \hline & 254,777.05 \\ \hline \end{tabular} Long-Term Assets Office Equipment Accum. Depr--Office Equipment Net Office Equipment Computer Equipment Accum. Depr.-Computer Equipment Net Computer Equipment Total Long-Term Assets Total Assets $71,900.0012,878.39 Liabilities Current Liabilities Accounts Payable Adyanced Payment Interest Payable Salaries Payable Income Taxes Payable Total Current-Liabilities Long-Term Liabilities Notes Payable Bond Payable Premium on Bond Payable $24,000.009,600.00 S 59,021.61 Net Bond Payable ( 18,537.00 14.400 .00 73,421.61$328,198.66 Total Long-Term Liabilities Total Liabilities A Byte of Accounting Ratios Ai the and of Phe yearst,800 00 was poid h dividends For Year Ending December 31, 2022 Al the end of the year 4,500 sharet were outatanding A the end of the year the manat pico of the alock was 535 . 66 per whare. Required: Complete the ratios and the open ended questions and then upload your file to Cyber Textcom for grading. Round to two decimal places. Acrounts Reos vable Tumover Nod Teit Rote Bank Eamings Per Bnaw Doek Value Per Comenon 5ham *Roundiniamber, 2) Davs Baws in irvenioy Dan' sales Uncolected Dest Rato Dobito Euvir Rato Dovende Per Snawe

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Guide To Hipaa Auditing Practical Tools And Tips To Ensure Compliance

Authors: Margret Amatayakul

1st Edition

1578393582, 978-1578393589

More Books

Students also viewed these Accounting questions

Question

a. When did your ancestors come to the United States?

Answered: 1 week ago

Question

d. What language(s) did they speak?

Answered: 1 week ago

Question

e. What difficulties did they encounter?

Answered: 1 week ago