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please find net income, net profit margin, and current ratio thank you! No General Journal Debit Credit Date July 01, 2021 1 32 Cash Notes
please find net income, net profit margin, and current ratio thank you!
No General Journal Debit Credit Date July 01, 2021 1 32 Cash Notes Payable (short-term) 32 2 35 July 02, 2021 Equipment Cash 35 3 July 03, 2021 6 Cash Common Stock 6 4 July 04, 2021 2 Software Cash 2 5 8 July 05, 2021 Supplies Accounts Payable 8 6 December 06, 2021 9 9 Accounts Receivable Cash Service Revenue 57 66 7 December 07 2021 Salaries and Wages Expense 40 Cash 40 8 December 08, 2021 Cash 8 Accounts Receivable 8 9 9 Accounts Payable December 18 2021 9 Cash 9 10 December 10, 2021 Cash 2 2 Deferred Revenue 2 11 December 31, 2021 1 Amortization Expense Accumulated Amortization 1 12 December 31, 2021 8 Supplies Expense Supplies 8 13 December 31, 2021 3 Depreciation Expense Accumulated Depreciation 3 December 31. Interessuxpense 14 1 2021 Interest Payable 1 15 December 31 2021 4 Salaries and Wages Expense Salaries and Wages Payable 16 December 31, 2021 3 Income Tax Expense Income Tax Payable 3 17 December 31, 2021 66 3 1 44 Service Revenue Depreciation Expense Amortization Expense Salaries and Wages Expense Supplies Expense Interest Expense Income Tax Expense Retained Earnings 8 000 + 1 3 6 General Ledger Account Cash Accounts Receivable No. Debit Credit Balance No. Debit Credit Balance 6 2 32 38 6 Date January 01, 2021 December 06, 2021 December 08, 2021 9 11 35 3 4 6 9 8 8 3 2 7 Date January 01, 2021 1 July 01, 2021 2 July 02, 2021 3 July 03, 2021 4 July 04, 2021 December 06, 6 2021 7 December 07, 2021 A December 08, 2021 December 09, 9 2021 10 December 10, 2021 57 64 4 40 24 t on 32 9 23 2 25 Supplies Equipment Debit Credit Balance Debit Credit Balance 2 No. Date January 01, 2021 5 July 05, 2021 December 31 12 2021 No. Date January 01. 2021 2 July 02, 2021 8 8 10 35 43 8 2 Accumulated Depreciation Software No. Date Debit Credit Balance No. Debit Credit Balance $ Date January 01, 2021 July 04, 2021 6 13 December 31, 2021 3 8 Accumulated Amortization Accounts Payable No. Debit Credit Balance Debit Credit Balance Date January 01 2021 December 31, 2021 1 5 No. Date January 01, 2021 5 July 05, 2021 December 09, 9 2021 8 11 2 13 9 4 Salaries and Wages Payable Interest Payable Debit Credit No. Balance No. Debit Credit Balance o O Date January 01, 2021 December 31, 2021 Date January 01, 2021 December 31. 2021 0 14 15 4 Deferred Revenue Income Tax Payable Debit Credit Balance No. Debit Credit Balance 0 0 No. Date January 01, 2021 December 31 16 2021 Date January 01, 2021 December 10, 2021 4 3 3 10 2 2 Common Stock No. Balance Debit Credit Balance Notes Payable (short-term) Date Debit Credit January 01, 2021 1 July 01, 2021 32 0 No. Date January 01, 2021 3 July 03, 2021 12 32 6 18 Service Revenue Retained Earnings Debit Credit No. Balance No. Debit Credit Balance Date January 01, 2021 Date January 01, 2021 December 06, 2021 0 6 66 66 No. Balance No. Balance Amortization Expense Date Debit Credit January 01, 2021 December 31, 2021 Depreciation Expenso Date Debit Credit January 01, 2021 December 31, 3 2021 0 11 13 3 Interest Expense Debit Credit No. Balance No. Balance 0 0 Date January 01. 2021 December 31 2021 Salaries and Wages Expense Date Debit Credit January 01, 2021 December 07 40 2021 December 31, 4 2021 14 1 1 40 7 4 15 44 Supplies Expense Debit Credit Income Tax Expense Debit Credit No. Date Balance No. Date Balance 0 0 12 December 31, 2021 8 8 December 31, 16 2021 3 3 December 31, 2021 Account Title Debit Credit $ 25 3 2 43 k 8 2 4 1 4 ces 3 Cash Accounts Recevable Supplies Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Interest Payable Salaries and Wages Payable Income Tax Payable Deferred Revenue Notes Payable (short-term) Common Stock Retained Earnings Service Revenue Amortization Expense Depreciation Expense Interest Expense Salaries and Wages Expense Supplies Expense Income Tax Expense Total 2 32 18 5 66 1 3 2 AT 2 1 44 8 3 141 $ $ 141 Adjusted NORTHLAND PHYSICAL THERAPY Income Statement For the Year Ended December 31, 2021 (in thousands) Revenues Service Revenue $ 66 0 Total Revenues 66 44 3 Expenses Salaries and Wages Expense Depreciation Expense Amortization Expense Income Tax Expense Interest Expense Supplies Expense 1 t t t tt 1 3 1 8 0 Total Expenses 60 Net Income $ 6 Adjusted s NORTHLAND PHYSICAL THERAPY Statement of Retained Earnings For the Year Ended December 31, 2021 (in thousands) Balance, January 1, 2021 $ Add: Net Income $ 5 5 6 Balance, December 31, 2021 11 Assets Current Assets Cash Accounts Receivable Supplies 4 32 NORTHLAND PHYSICAL THERAPY Balance Sheet At December 31, 2021 (in thousands) Liabilities Current Liabilities 25 Accounts Payable 3 Notes Payable (short-term) 2 Salaries and Wages Payable Interest Payable 0 Income Tax Payable Deferred Revenue 0 0 Total Current Liabilities 30 Stockholders' Equity 43 Common Stock (4) $ 39 Retained Earnings 8 (2) $ 6 Total Stockholders' Equity $ 75 Total Liabilities and Stockholders' Equity 20000 4 1 3 2 0 $ $ 46 $ 18 $ Total Current Assets Equipment Accumulated Depreciation Software Accumulated Amortization Total Assets 11 EET NO 29 $ $ How much net income did Northland Physical Therapy, generate during 2021? What was its net profit margin? (Round "Net Profit Margin" to 1 decimal place.) Net Income Net Profit Margin Is the business financed primarily by liabilities or stockholders' equity? What is the current ratio? (Round your answer to 2 decimal places.) Current Ratio Step by Step Solution
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