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PLEASE ANSWER ASAP Zunish Inc. had the following account balances at December 31, 2021: Account Name Amount Collections from customers 564,935 Cash received from debt
PLEASE ANSWER ASAP
Zunish Inc. had the following account balances at December 31, 2021: Account Name Amount Collections from customers 564,935 Cash received from debt 16,000 Maintenance expense 2,755 Accounts payable 23,515 Rent expense 4,800 Purchase of intangibles 1,160 Deferred revenue 1,650 Office supplies 2,135 Payment of dividends 5,000 Contributions by owners 7,000 Cash (beginning of year) 33,500 Income tax payable 2,250 Office supplies expense 1,240 Retained earnings (beginning of year) 18,375 Prepaid expenses 2,400 Utilities expense 875 Website expense 750 Prepaid rent 1,500 Website design 1,100 Interest expense 1,200 Owner's capital 19,000 Accounts receivable 32,645 Cash (end of year) 56,350 Service revenue 39,370 Bank loan payable, due in 2025 16,000 Income tax expense 7,350 Business licence 60 Payments to suppliers 58,925 Dividends 5,000 Using the above information create the following: income statement, statement of retained earnings, balance sheet and the statement of cash flows. Then use the information to answer the following questions. Question 2 (2 points) What is Total Operating Expenses on this company's single step income statement? Question 3 (2 points) What is Profit before Income Tax (also called Income before Income Tax) on this company's single step income statement? Question 4 (2 points) What is Profit (also called Net Income) on this company's single step income statement? Question 5 (1 point) What is the correct title for this company's statement of retained earnings? a) Zunish Inc., Statement of Retained Earnings, Year ended December 31, 2021 b) Statement of Retained Earnings, Zunish Inc., Year ended December 31, 2021 c) Zunish Inc., December 31, 2021, Statement of Retained Earnings d) Zunish Inc., Statement of Retained Earnings, December 31, 2021 e) December 31, 2021, Statement of Retained Earnings, Zunish Inc. What is total current assets on this company's balance sheet? Question 11 (2 points) What is total assets on this company's balance sheet? Question 12 (2 points) What is total current liabilities on this company's balance sheet? AStep by Step Solution
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