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[This section should center on your analysis of the financial performance of the company based on the statements you prepared. Discuss key points on your
[This section should center on your analysis of the financial performance of the company based on the statements you prepared. Discuss key points on your observations of results: Is the company operating profitably (what percent of revenues result in profitet income)? How well poised are they to meet liabilities (discuss liquidity and current ratio)?.]
\begin{tabular}{l|r|r} \hline \multicolumn{1}{c|}{ Account } & \multicolumn{1}{c}{ Unadjusted trial balance } \\ \hline Cash & \multicolumn{1}{c|}{ Debit } & \multicolumn{1}{c}{ Credit } \\ \hline Accounts Receivable & 77,550.00 & 26,900.00 \\ \hline Prepaid Rent & 3,975.00 & 1,000.00 \\ \hline Prepaid Insurance & 7,170.00 & \\ \hline Vehicle & 750.00 & \\ \hline Office Supplies & 15,000.00 & \\ \hline Accumulated Depreciation & 750.00 & \\ \hline Notes Payable & & 250.00 \\ \hline Accounts Payable & & 25,000.00 \\ \hline Wages Payable & 750.00 & 905.00 \\ \hline Owner's Capital & 325.00 & 650.00 \\ \hline Owner Draws & & 50,000.00 \\ \hline Service Revenue & 1,000.00 & \\ \hline Rent Expense & & 5,525.00 \\ \hline Business License Expense & 1,195.00 & \\ \hline Telephone Expense & 250.00 & \\ \hline Repairs and Maintenance Expense & 155.00 & \\ \hline Advertising Expense & 210.00 & \\ \hline Wages Expense & 250.00 & \\ \hline Depreciation Expense & 650.00 & \\ \hline Total: & 250.00 & \\ \hline & 110,230.00 & 110,230.00 \\ \hline \end{tabular} A Company Income Statement For Month ending 06/30/20XX Revenues \begin{tabular}{|c|cc} \hline Service Revenue & $5,525.00 \\ \hline Total Revenues & & \\ \hline & $ & 5,525.00 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline Rent Expense & $ & 1,195.00 \\ \hline Business License Expense & $ & 250.00 \\ \hline Telephone Expense & $ & 155.00 \\ \hline Repairs and Maintenance & $ & 210.00 \\ \hline Advertising Expense & $ & 250.00 \\ \hline Wages Expense & $ & 650.00 \\ \hline Depreciation Expense & $ & 250.00 \\ \hline Total Operating Expenses: & & 2,960.00 \\ \hline Net Income & & 2,565.00 \\ \hline \end{tabular}Step by Step Solution
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