Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Statement of Retained Earnings, Balance Sheet, and Analysis. thank you Drs. Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called Northland

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Statement of Retained Earnings, Balance Sheet, and Analysis. thank you
image text in transcribed
Drs. Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called Northland Physical Therapy, on January 1, 2017. The annual reporting period ends December 31. The trial balance on January 1, 2018, was as follows (the amounts are rounded to thousands of dollars to simplify: Account Titles Debit Credit Cash $ 8 Accounts Receivable Supplies Equipment Accumulated Depreciation $ 2 Software Accumulated Amortisation 2 Accounts Payable 5 Notes Payable (short-term) 0 Salaries and Wages Payable 0 Interest Payable 0 Income Taxes Payable Deferred Revenue 0 Common Stock 14 Retained Earnings 7 Service Revente 0 Depreciation Expense Amortization Expende Salaries and Wages Expense 0 Supplies Expense O Interest Expense 0 Income Tax Expense 0 $30 930 Totala 1438 1 ed (Enter all of your answers in thousands of dollars. (l.e., $100,000 should be entered as $100).) * General Requirement General Statement of Income Journal Ledger Trial Balance Statement Retained Balance Sheet Analysis Earnings Prepare the statement of retained earnings for the year ended December 31, 2018. You will need to determine and entert accounts and balances to prepare the Statement of Retained Earnings OS Adjusted NORTHLAND PHYSICAL THERAPY Statement of Retained Earnings For the Year Ended December 31, 2018 (in thousands) Balance, January 1, 2018 Add: Net Income 9 Balance, December 31, 2018 9 kralysis General General Income Statement of Requirement Journal Trial Balance Retained Ledger Statement Balance Sheet Analysis Earnings Use the dropdowns to select the accounts properly included on the classified balance sheet. The unadjusted, adjusted, or post-closing balances will ap each account, based on your selection. Adjusted NORTHLAND PHYSICAL THERAPY Balance Sheet At December 31, 2018 (in thousands) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 9 0 0 0 0 9 $ $ 9 General General Income Statement of Requirement Journal Trial Balance Ledger Balance Sheet Statement Retained Analysis Earnings Calculate the Net Porit Margin and Current Ratio. Net Income can be found on Income statement tab. (Hint: Select Adjusted on the dropdown.) Adjusted Dates: Jan 01, 2015 to: Dec 31, 2018 How much net income did Northland Physical Therapy, Ine generate during 2017 What was its not profit margin? (Round "Net Pro Marollo de los Net Income Net Profit Margin In the company financed primarily by Kobilities of stockholders? What is the current ratio? (Round your answer to 2 decimal places Current Ratio

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting Tools for business decision making

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

6th Edition

978-0470477144, 1118096894, 9781118214657, 470477148, 111821465X, 978-1118096895

More Books

Students also viewed these Accounting questions

Question

LO12.1 List the characteristics of pure monopoly.

Answered: 1 week ago