Question
Jacob Dougan recently graduated from Yorkville University with a BBA. Jacob was hired as a Finance manager at DoWe Inc. and makes $125,000 per year.
Jacob Dougan recently graduated from Yorkville University with a BBA. Jacob was hired as a Finance manager at DoWe Inc. and makes $125,000 per year. Jacob was always an honest and ethical student never cheating on any Learning Activities. As a result, Jacob's manager gave a very important project for to complete. Using the accounts below prepare an Income Statement and Balance Sheet. Then write a brief paragraph on
how the company can improve its profitability.
ACCOUNT Wages Payable
Unearned Revenue
Accounts Payable
Accounts Receivable
Marketing Expense Prepaid Rent
Service Revenue Advertising Expense
Cash
Depreciation Fuel
Interest Expense Marketable Securities
AMOUNT 22,000
10,000
95,000
25,000
97,000 15,000
329,000
33,000
15,000 22,000
5,000 10,000
ACCOUNT
Inventory
Interest Revenue
Land
Accumulated Depreciation Equip
Short term Notes Payable
Mortgage
Tax Payable
Common Stock
Equipment
Goodwill Insurance Expense
Tax Rate
AMOUNT 125,000
18,000
55,000
82,000
490,000
32,000 250,000
350,000
86,000 75,000
40% 175,000
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