Need to find the DROPBOX-2.

Have attached the information about question and answers of journal entries from Dropbox-1

Find below the information for dropbox-2 and its tasks

The question is clear from the dropbox-2.

It is just that the answer for this is taken from the previous Dropbox-1 which i had posted along with it.

The task is to:

PREPARE A JOURNAL ENTRY AND T-ACCOUNT

1. To prepare an Income Statement from end of the dropbox-1 period

2. Add transaction A to I to the journal entries and T account.

3. Include new transaction and prepare an Income Statement from end of the dropbox-2 period

4. Prepare vertical and horizontal analysis of income statement

5. For end of dropbox-1 and 2,

a) find CURRENT RATIO

b)profit margin on sales ratio

c) return of total assets ratio

d) return on euity ratio

Also what is the performance of the company. and mention 3 areas of interest by interpreting the calculated figures and not just compare

Rolling Wheels sells bicycles from around the world online to Canadians. (Transaction #1) The Investors put purchase 2 different models of $2,998,899 in the company. The money was used to as follows: bicycles Model 2 Ascend Pro 1 3 Ascend Pro 2 Quantity 260 17 Price purchased each $2,850 $13,125 Over the course of the next year they had the following sales: How are customers paying Number of units not paid for at present Model Quantity Price sold each Current status 4 Ascend Pro 1 66 $5,558 On credit Paid entirely 5 Ascend Pro 2 4 $28,219 Cash Paid entirely 6 Ascend Pro 2 5 $25,961 On credit 2 Outstanding 7 Ascend Pro 1 65 $5 225 On credit 32 Outstanding 8 Ascend Pro 1 129 $4,598 On credit 66 Outstanding (Transaction #9) 9 employees work for the company. They have been paid in full. Number of employees Pay/ employee From these employees 5 averaged $24,704 and the other 4 averaged $43,232 over the period in question. Over the course of the year they will spend the following: # Payment 10 Utilities expense 11 Rent expense 12 Internet expense 13 Prom expense 14 Legal fees 15 Equipment Amount US$12,352 US$14,411 US$9,264 US$43 233 US$15,749 US$23,159 Payment Method Cash, nothing due On credit, still outstanding Cash, nothing due On credit, still outstanding On credit, still outstanding Received loan from bank Rolling Wheels sells bicycles from around the world online to Canadians. (Transaction #1) The Investors put purchase 2 different models of $2,998,899 In the company. The money was used to bicycles as follows: Model 2 Ascend Pro 1 3 Ascend Pro 2 Quantity 260 17 Price purchased each $2,850 $13,125 Over the course of the next year they had the following sales: How are customers paying Number of units not paid for at present Model Quantity Price sold each Current status 4 Ascend Pro 1 66 $5,558 On credit Paid entirely 5 Ascend Pro 2 4 $28,219 Cash Paid entirely 5 6 Ascend Pro 2 $25,961 2 On credit Outstanding 65 $5,225 7 Ascend Pro 1 On credit 32 Outstanding 129 $4,598 On credit 66 8 Ascend Pro 1 Outstanding (Transaction #9) 9 employees work for the company. They have been paid in full. Number of employees Pay/employee From these employees 5 averaged $24,704 and the other 4 averaged $43,232 over the period in question. Over the course of the year they will spend the following: # Payment 10 Utilities expense 11 Rent expense 12 Internet expense 13 Promotional expense 14 Legal fees 15 Equipment Amount US$12,352 US$14,411 US$9,264 US$43,233 US$15,749 US$23,159 Payment Method Cash, nothing due On credit, still outstanding Cash, nothing due On credit, still outstanding On credit, still outstanding Received loan from bank Common stock $2.998.899 21 21 #5 Cash Dr $2.998.899 $741,000 62 S112.876 $223.125 13 S12.352 =10 End. Bal 52,998,899 End.Bal S2,135.298 Sales S366,828 W S112.876 WS $129.805 #6 $339,625 7 $$93.1428 Purchase $741.000 S223.125 42 #3 End Bal $964,125 End.Bal $1,542,276 Salaries Expense $296.448 19 Accounts Receivables 14 $366,828 #6 S129.805 #7 $339,625 68 $593.142 Eod. Bal $1,429.400 End.Bal S296,448 Reut Expense $14.411 111 Utilities Expense SI2.352 810 End. Bal $12,352 End, Bal $14.411 Interest Expense 59.264 Advertisment Espense $43,233 2) 12 13 End.Bal 59.264 End.Bal 543,233 Legal Expense $15.749 Equipment S23.159 N14 WS Ead.Bal S15,749 End.Bal S23.159 Bank Loan $23.159 #15 Rent Payable $14.411 411 End.Bal $23.159 End.Bal $14,411 Interest Payable $9.264 #12 Advertisment Expense Payable $43.233 413 Ead.Bal 59.264 End.Bal S43.233 Legal Expense Payble $15.749 W14 S15,749 End. Bal Activate Windows Date #1 Journal Entries Account Title Debit Credit Cash $2.998.899 Common Stock $2.998,899 1 #2 Purchase Cash $741.000 |(260x82850) $741,000 (17x153125) $223.125 #3 Purchase Cash S223.125 #4 Accounts Receivable Sales $366.828 (66x85558) $366,828 #5 Cash Sales $112,876 (4x828219) $112.876 #6 Accounts Receivable Sales 27 Accounts Receivable Sales Accounts Receivable Sales S129,805 (52$25961) $129.805 $339,625 (65355225) $339,625 $393.142 |(12984898) 5593.142 #8 49 6 Salaries Expense Cash $296.448 (52$24,704)-(42_S43.232 5296,448 #10 Utilities Expense Cash $12,352 $12.352 #11 Rent Expense Rent Payable $14,411 $14,411 #12 Interest Expense Cash $9.264 59.264 13 Advertisment Expense Advertisment Expense Payable $43,233 $43.233 #14 $15,749 Legal Expense Legal expense Payable $15,749 #15 Equipment Bank Loan $23.159 S23,159 A 21 P Ave DEMIE IES 1 FORES SR . CM SETH w . 14 575 LE Payal| $13.7 ste GSTES Carl C B. CIRE 03 all REN WIE Tale INS SES S Ta Ar 10 LRS RES MLASH ww TWT HIFFS COC 3 THE lagi. Ew 91. . w Hall HERS le Ae HU 13 Ta 9334 13 Tagal SES This work continues on your work from Dropbox 1. TASK 1 USE D81 to prepare a statement of income and statement of financial position for the company at the end of the DB1 period TASK 2 Add transactions A to I to your journal entries and T-accounts from DB1. You have 5 tasks to complete. Purchase transaction Model A Ascend Pro 3 Quantity 10,650 Price paid each Current status $20,100 Outstanding Sales transactions Model B Ascend Pro 3 How are Price sold each customers paying $40 400 Cash Number of units NOT pald for at present Quantity 12 Current status Paid in full C Ascend Pro 2 7 US$20,769 On credit 5 Outstanding D Ascend Pro 3 5,319 US$36 360 On credit 1773 Outstanding E Service Revenue US$263,310 On credit Outstanding Expense transaction F Telecom expenses US$9,250 On credit, still outstanding G Marketing Staff total hired 3 average pay of Paid in full S 19,145 H Rent US$21,198 On credit, still outstanding 1 Licenses US$29,809 On credit, still outstanding TASK 3 Including the new transactions, prepare a statement of income and statement of financial position for the company at the end of the DB2 period. TASK 5 For the end of the DB1 and 82 periods calculate: current ratio profit margin on sales ratio return of total assets ratio - return on equity ratio What can you say about the performance of this company? Comment on three areas of interest by interpreting the calculated figures, not just stating and comparing them. TASK 4 Prepare vertical and horizontal analysis of the income statement for the company Common stock $2.998.899 1 1 #5 Cash Dr Cr $2.998.899 $741,000 $2 $112.876 $223.125 03 S12.352 #10 End. Bal 52,998,899 End.Bal S2.135.298 Sales Purchase $741.000 S223,123 5366,828 S112.876 5 $129.805 6 $329,6257 5593,1428 # End.Bal $964,125 End.Bal $1.542.276 Salarles Expense $296.448 29 Accounts Receivables 14 $366,828 #6 $129.805 #7 $339,625 68 $593.142 End.Bal $1.429.400 End.Bal S296.448 Rent Expense $14.411 #11 Utilities Expense SI2.352 810 End. Bal $12,352 End. Bal $14.411 Interest Expense 59.264 Advertisment Expense $43.233 2) 12 #13 End.Bal 59.264 End.Bal S43,233 Legal Expense $15,749 Equipment $23.159 N14 BIS Ead.Bal $15,749 End.Bal S23.159 Bank Loan $23.159 #15 Rent Payable $14.411 11 End.Bal $23.159 End.Bal $14,411 Interest Payable $9.264 #12 Advertisment Expense Payable $43.233 #13 Ead.Bal 59.264 End.Bal S43.233 Legal Expense Payble $15.749 #14 S15,749 End Bal Activate Window Rolling Wheels sells bicycles from around the world online to Canadians. (Transaction #1) The Investors put purchase 2 different models of $2,998,899 in the company. The money was used to as follows: bicycles Model 2 Ascend Pro 1 3 Ascend Pro 2 Quantity 260 17 Price purchased each $2,850 $13,125 Over the course of the next year they had the following sales: How are customers paying Number of units not paid for at present Model Quantity Price sold each Current status 4 Ascend Pro 1 66 $5,558 On credit Paid entirely 5 Ascend Pro 2 4 $28,219 Cash Paid entirely 6 Ascend Pro 2 5 $25,961 On credit 2 Outstanding 7 Ascend Pro 1 65 $5 225 On credit 32 Outstanding 8 Ascend Pro 1 129 $4,598 On credit 66 Outstanding (Transaction #9) 9 employees work for the company. They have been paid in full. Number of employees Pay/ employee From these employees 5 averaged $24,704 and the other 4 averaged $43,232 over the period in question. Over the course of the year they will spend the following: # Payment 10 Utilities expense 11 Rent expense 12 Internet expense 13 Prom expense 14 Legal fees 15 Equipment Amount US$12,352 US$14,411 US$9,264 US$43 233 US$15,749 US$23,159 Payment Method Cash, nothing due On credit, still outstanding Cash, nothing due On credit, still outstanding On credit, still outstanding Received loan from bank Date #1 Journal Entries Account Title Debit Credit Cash $2.998.899 Common Stock $2.998,899 1 #2 Purchase Cash $741.000 |(260x82850) $741,000 (17x153125) $223.125 #3 Purchase Cash S223.125 #4 Accounts Receivable Sales $366.828 (66x85558) $366,828 #5 Cash Sales $112,876 (4x828219) $112.876 #6 Accounts Receivable Sales 27 Accounts Receivable Sales Accounts Receivable Sales S129,805 (52$25961) $129.805 $339,625 (65355225) $339,625 $393.142 |(12984898) 5593.142 #8 49 6 Salaries Expense Cash $296.448 (52$24,704)-(42_S43.232 5296,448 #10 Utilities Expense Cash $12,352 $12.352 #11 Rent Expense Rent Payable $14,411 $14,411 #12 Interest Expense Cash $9.264 59.264 13 Advertisment Expense Advertisment Expense Payable $43,233 $43.233 #14 $15,749 Legal Expense Legal expense Payable $15,749 #15 Equipment Bank Loan $23.159 S23,159 This work continues on your work from Dropbox 1. TASK 1 USE DB1 to prepare a statement of Income and statement of financial position for the company at the end of the D81 period. TASK 2 Add transactions A to I to your journal entries and T-accounts from DB1 You have 5 tasks to complete Purchase transaction # Model A Ascend Pro 3 Quantity 10,650 Price paid each Current status $20,100 Outstanding Sales transactions Number of units NOT pald for at present Model B Ascend Pro 3 How are Price sold each customers paying $40,400 Cash Quantity 12 Current status Paid in full C Ascend Pro 2 7 US$20,769 On credit 5 Outstanding D Ascend Pro 3 5,319 US$36,360 On credit 1773 Outstanding E Service Revenue US$263,310 On credit Outstanding Expense transaction F Telecom expenses US$9 250 On credit still outstanding G Marketing Staff total hired 3 average pay of S 19,145 Paid in full H Rent US$21,198 On credit, still outstanding 1 Licenses US$29,809 On credit still outstanding TASK 3 Including the new transactions, prepare a statement of income and statement of financial position for the company at the end of the DB2 period. TASKS For the end of the DB1 and DB2 periods calculate: - current ratio profit margin on sales ratio return of total assets ratio return on equity ratio What can you say about the performance of this company? Comment on three areas of interest by interpreting the calculated figures, not just stating and comparing them. TASK 4 Prepare vertical and horizontal analysis of the income statement for the company Rolling Wheels sells bicycles from around the world online to Canadians. (Transaction #1) The Investors put purchase 2 different models of $2,998,899 in the company. The money was used to as follows: bicycles Model 2 Ascend Pro 1 3 Ascend Pro 2 Quantity 260 17 Price purchased each $2,850 $13,125 Over the course of the next year they had the following sales: How are customers paying Number of units not paid for at present Model Quantity Price sold each Current status 4 Ascend Pro 1 66 $5,558 On credit Paid entirely 5 Ascend Pro 2 4 $28,219 Cash Paid entirely 6 Ascend Pro 2 5 $25,961 On credit 2 Outstanding 7 Ascend Pro 1 65 $5 225 On credit 32 Outstanding 8 Ascend Pro 1 129 $4,598 On credit 66 Outstanding (Transaction #9) 9 employees work for the company. They have been paid in full. Number of employees Pay/ employee From these employees 5 averaged $24,704 and the other 4 averaged $43,232 over the period in question. Over the course of the year they will spend the following: # Payment 10 Utilities expense 11 Rent expense 12 Internet expense 13 Prom expense 14 Legal fees 15 Equipment Amount US$12,352 US$14,411 US$9,264 US$43 233 US$15,749 US$23,159 Payment Method Cash, nothing due On credit, still outstanding Cash, nothing due On credit, still outstanding On credit, still outstanding Received loan from bank Rolling Wheels sells bicycles from around the world online to Canadians. (Transaction #1) The Investors put purchase 2 different models of $2,998,899 In the company. The money was used to bicycles as follows: Model 2 Ascend Pro 1 3 Ascend Pro 2 Quantity 260 17 Price purchased each $2,850 $13,125 Over the course of the next year they had the following sales: How are customers paying Number of units not paid for at present Model Quantity Price sold each Current status 4 Ascend Pro 1 66 $5,558 On credit Paid entirely 5 Ascend Pro 2 4 $28,219 Cash Paid entirely 5 6 Ascend Pro 2 $25,961 2 On credit Outstanding 65 $5,225 7 Ascend Pro 1 On credit 32 Outstanding 129 $4,598 On credit 66 8 Ascend Pro 1 Outstanding (Transaction #9) 9 employees work for the company. They have been paid in full. Number of employees Pay/employee From these employees 5 averaged $24,704 and the other 4 averaged $43,232 over the period in question. Over the course of the year they will spend the following: # Payment 10 Utilities expense 11 Rent expense 12 Internet expense 13 Promotional expense 14 Legal fees 15 Equipment Amount US$12,352 US$14,411 US$9,264 US$43,233 US$15,749 US$23,159 Payment Method Cash, nothing due On credit, still outstanding Cash, nothing due On credit, still outstanding On credit, still outstanding Received loan from bank Common stock $2.998.899 21 21 #5 Cash Dr $2.998.899 $741,000 62 S112.876 $223.125 13 S12.352 =10 End. Bal 52,998,899 End.Bal S2,135.298 Sales S366,828 W S112.876 WS $129.805 #6 $339,625 7 $$93.1428 Purchase $741.000 S223.125 42 #3 End Bal $964,125 End.Bal $1,542,276 Salaries Expense $296.448 19 Accounts Receivables 14 $366,828 #6 S129.805 #7 $339,625 68 $593.142 Eod. Bal $1,429.400 End.Bal S296,448 Reut Expense $14.411 111 Utilities Expense SI2.352 810 End. Bal $12,352 End, Bal $14.411 Interest Expense 59.264 Advertisment Espense $43,233 2) 12 13 End.Bal 59.264 End.Bal 543,233 Legal Expense $15.749 Equipment S23.159 N14 WS Ead.Bal S15,749 End.Bal S23.159 Bank Loan $23.159 #15 Rent Payable $14.411 411 End.Bal $23.159 End.Bal $14,411 Interest Payable $9.264 #12 Advertisment Expense Payable $43.233 413 Ead.Bal 59.264 End.Bal S43.233 Legal Expense Payble $15.749 W14 S15,749 End. Bal Activate Windows Date #1 Journal Entries Account Title Debit Credit Cash $2.998.899 Common Stock $2.998,899 1 #2 Purchase Cash $741.000 |(260x82850) $741,000 (17x153125) $223.125 #3 Purchase Cash S223.125 #4 Accounts Receivable Sales $366.828 (66x85558) $366,828 #5 Cash Sales $112,876 (4x828219) $112.876 #6 Accounts Receivable Sales 27 Accounts Receivable Sales Accounts Receivable Sales S129,805 (52$25961) $129.805 $339,625 (65355225) $339,625 $393.142 |(12984898) 5593.142 #8 49 6 Salaries Expense Cash $296.448 (52$24,704)-(42_S43.232 5296,448 #10 Utilities Expense Cash $12,352 $12.352 #11 Rent Expense Rent Payable $14,411 $14,411 #12 Interest Expense Cash $9.264 59.264 13 Advertisment Expense Advertisment Expense Payable $43,233 $43.233 #14 $15,749 Legal Expense Legal expense Payable $15,749 #15 Equipment Bank Loan $23.159 S23,159 A 21 P Ave DEMIE IES 1 FORES SR . CM SETH w . 14 575 LE Payal| $13.7 ste GSTES Carl C B. CIRE 03 all REN WIE Tale INS SES S Ta Ar 10 LRS RES MLASH ww TWT HIFFS COC 3 THE lagi. Ew 91. . w Hall HERS le Ae HU 13 Ta 9334 13 Tagal SES This work continues on your work from Dropbox 1. TASK 1 USE D81 to prepare a statement of income and statement of financial position for the company at the end of the DB1 period TASK 2 Add transactions A to I to your journal entries and T-accounts from DB1. You have 5 tasks to complete. Purchase transaction Model A Ascend Pro 3 Quantity 10,650 Price paid each Current status $20,100 Outstanding Sales transactions Model B Ascend Pro 3 How are Price sold each customers paying $40 400 Cash Number of units NOT pald for at present Quantity 12 Current status Paid in full C Ascend Pro 2 7 US$20,769 On credit 5 Outstanding D Ascend Pro 3 5,319 US$36 360 On credit 1773 Outstanding E Service Revenue US$263,310 On credit Outstanding Expense transaction F Telecom expenses US$9,250 On credit, still outstanding G Marketing Staff total hired 3 average pay of Paid in full S 19,145 H Rent US$21,198 On credit, still outstanding 1 Licenses US$29,809 On credit, still outstanding TASK 3 Including the new transactions, prepare a statement of income and statement of financial position for the company at the end of the DB2 period. TASK 5 For the end of the DB1 and 82 periods calculate: current ratio profit margin on sales ratio return of total assets ratio - return on equity ratio What can you say about the performance of this company? Comment on three areas of interest by interpreting the calculated figures, not just stating and comparing them. TASK 4 Prepare vertical and horizontal analysis of the income statement for the company Common stock $2.998.899 1 1 #5 Cash Dr Cr $2.998.899 $741,000 $2 $112.876 $223.125 03 S12.352 #10 End. Bal 52,998,899 End.Bal S2.135.298 Sales Purchase $741.000 S223,123 5366,828 S112.876 5 $129.805 6 $329,6257 5593,1428 # End.Bal $964,125 End.Bal $1.542.276 Salarles Expense $296.448 29 Accounts Receivables 14 $366,828 #6 $129.805 #7 $339,625 68 $593.142 End.Bal $1.429.400 End.Bal S296.448 Rent Expense $14.411 #11 Utilities Expense SI2.352 810 End. Bal $12,352 End. Bal $14.411 Interest Expense 59.264 Advertisment Expense $43.233 2) 12 #13 End.Bal 59.264 End.Bal S43,233 Legal Expense $15,749 Equipment $23.159 N14 BIS Ead.Bal $15,749 End.Bal S23.159 Bank Loan $23.159 #15 Rent Payable $14.411 11 End.Bal $23.159 End.Bal $14,411 Interest Payable $9.264 #12 Advertisment Expense Payable $43.233 #13 Ead.Bal 59.264 End.Bal S43.233 Legal Expense Payble $15.749 #14 S15,749 End Bal Activate Window Rolling Wheels sells bicycles from around the world online to Canadians. (Transaction #1) The Investors put purchase 2 different models of $2,998,899 in the company. The money was used to as follows: bicycles Model 2 Ascend Pro 1 3 Ascend Pro 2 Quantity 260 17 Price purchased each $2,850 $13,125 Over the course of the next year they had the following sales: How are customers paying Number of units not paid for at present Model Quantity Price sold each Current status 4 Ascend Pro 1 66 $5,558 On credit Paid entirely 5 Ascend Pro 2 4 $28,219 Cash Paid entirely 6 Ascend Pro 2 5 $25,961 On credit 2 Outstanding 7 Ascend Pro 1 65 $5 225 On credit 32 Outstanding 8 Ascend Pro 1 129 $4,598 On credit 66 Outstanding (Transaction #9) 9 employees work for the company. They have been paid in full. Number of employees Pay/ employee From these employees 5 averaged $24,704 and the other 4 averaged $43,232 over the period in question. Over the course of the year they will spend the following: # Payment 10 Utilities expense 11 Rent expense 12 Internet expense 13 Prom expense 14 Legal fees 15 Equipment Amount US$12,352 US$14,411 US$9,264 US$43 233 US$15,749 US$23,159 Payment Method Cash, nothing due On credit, still outstanding Cash, nothing due On credit, still outstanding On credit, still outstanding Received loan from bank Date #1 Journal Entries Account Title Debit Credit Cash $2.998.899 Common Stock $2.998,899 1 #2 Purchase Cash $741.000 |(260x82850) $741,000 (17x153125) $223.125 #3 Purchase Cash S223.125 #4 Accounts Receivable Sales $366.828 (66x85558) $366,828 #5 Cash Sales $112,876 (4x828219) $112.876 #6 Accounts Receivable Sales 27 Accounts Receivable Sales Accounts Receivable Sales S129,805 (52$25961) $129.805 $339,625 (65355225) $339,625 $393.142 |(12984898) 5593.142 #8 49 6 Salaries Expense Cash $296.448 (52$24,704)-(42_S43.232 5296,448 #10 Utilities Expense Cash $12,352 $12.352 #11 Rent Expense Rent Payable $14,411 $14,411 #12 Interest Expense Cash $9.264 59.264 13 Advertisment Expense Advertisment Expense Payable $43,233 $43.233 #14 $15,749 Legal Expense Legal expense Payable $15,749 #15 Equipment Bank Loan $23.159 S23,159 This work continues on your work from Dropbox 1. TASK 1 USE DB1 to prepare a statement of Income and statement of financial position for the company at the end of the D81 period. TASK 2 Add transactions A to I to your journal entries and T-accounts from DB1 You have 5 tasks to complete Purchase transaction # Model A Ascend Pro 3 Quantity 10,650 Price paid each Current status $20,100 Outstanding Sales transactions Number of units NOT pald for at present Model B Ascend Pro 3 How are Price sold each customers paying $40,400 Cash Quantity 12 Current status Paid in full C Ascend Pro 2 7 US$20,769 On credit 5 Outstanding D Ascend Pro 3 5,319 US$36,360 On credit 1773 Outstanding E Service Revenue US$263,310 On credit Outstanding Expense transaction F Telecom expenses US$9 250 On credit still outstanding G Marketing Staff total hired 3 average pay of S 19,145 Paid in full H Rent US$21,198 On credit, still outstanding 1 Licenses US$29,809 On credit still outstanding TASK 3 Including the new transactions, prepare a statement of income and statement of financial position for the company at the end of the DB2 period. TASKS For the end of the DB1 and DB2 periods calculate: - current ratio profit margin on sales ratio return of total assets ratio return on equity ratio What can you say about the performance of this company? Comment on three areas of interest by interpreting the calculated figures, not just stating and comparing them. TASK 4 Prepare vertical and horizontal analysis of the income statement for the company