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Chapter 4 Problem 4-4A Preparing closing entries, financial statements, and ratios Recip2 The adjusted trial balance for Tybalt Construction as of December 31, 2019. follows. O. Tybalt invested $5,000 cash in the busi during year 2019 (the December 31, 2018, credit balance of the O. Tybalt, Capital account was $121.400) Adjusted Trial Balance December 31, 2018 Crect 5.000 23.000 5,100 7.000 $20.000 0.000 50.000 55.000 16.500 2.800 31.500 2.000 NO Account Title Los Cash 104 Short-term esments 126 upplies 12 Prepaid insurance 167 quilt 168 Accumulated depreciation Equipment 133 Building 174 Accumulated depreciation-Building 18 Land 20 Accounts alle 203 Intereste 30 Rent wat 220 Wp pable 20 Prettspylle 23 Uneared on fees Current portion of long term watele 251 Long-term stepe 30 Tybalt, Capital O bultWith was 401 Prenal fee earned 406 Retard 107 Divered 400 Interest 606 Depreciations-ling 612 Depreciation - 603 Wwepe 68 Interesten 7.500 7.000 26.400 3.00 9700 14.00 000 2100 1.000 3.000 5.100 10,000 600 Metepe 6a Sulis per 6 Page Preity as per 684 Repair expense Telephone Utilities en Totale 7.000 4.100 5. .900 1.200 San S. Required 1. Prepare the income statement and the statement of owner's equity for calendar-year 2019 and the classified balance sheet at 31, 2019. Check out 20 521005300 2. Prepare the necessary closing entries at December 31, 2019. 3. Use the information in the financial statements to compute these ratios: (a) return on assets (total assets at December 31, 2018, was $200,000). (b) debt ratio, (c) profit margin ratio fuse total revenues as the denominator), and (d) current ratio. R ratios to three decimals for parts and c and to two decimals for partsbanded. What we expect from the presentation slides? Prepare a presentative, well written and clear presentation. Your presentation must be interesting and creative. The slides MUST include students' names, UOB ID and section number. You must have a full understanding about the chapter over all material You must explain the exercise in detail. The exercise should be solved in groups. As you will be graded as group not individually, The presentation should include some small explanation about the chapter before presenting the exercise. Chapter 4 Problem 4-4A Preparing closing entries, financial statements, and ratios cai@p2 The adjusted trial balance for Tybalt Cotstruction as of December 31, 2019, follows. O. Tybalt invested $5.000 cash in the business during year 2019 (the December 31, 2018, credit balance of the 0. Tybalt. Capital account was $121.400) Debe Creo 5.000 23.000 8.00 40.000 30.000 190.000 DO Adjusted Trial Bounce December 2010 Account Tile Cle 104 Sherler 6 Supplies 128 Prepaid 07 Eq Armed depreciation- 17 Bulling Amated deprecate-Buliling 3 La 20 Ape be 308 Reparatie 210 Waga 223 rty to a tanesites 24. Current inter ile a Leone 30 Tyhlt, Capital 303 That With 400 Penale card 406 Red 407 Dividade 409 Insaned Depreciering 62 Depreciation export An War - KHU 2.500 3.30 2.500 90 so 60.000 136.400 13.000 9.00 14.000 2.000 21 6.000 S. Iep OR & Supplies 6 Page 6R) Property tone 684 Repas expe 68 Telephone so Tui 5.400 TADO 4200 5.000 3.300 S. SO Required 1. Prepare the income statement and the statement of owner's equity for calendar-year 2019 and the cincified balance sheet at December 31. 2019 Check out 2015 cm 100 2. Prepare the necessary closing entries at December 31, 2019 3. Use the information in the financial statements to compute these ration: (a) return on asets (total assets at December 31 2018, was $200,000). (b) debt ratio, (e) profit margin ratio (use total revenues as the denominato) (current ratio. Round ration to three decimals for partsa unde and to two decimals for partsbanded
