use the information to anwser these question
Marione Knaus Inc Income Statement For the month ended 31/01 2020 Revenue $ 40.400.00 Service Revenue Total Revenue S 10.000.00 Expenses S 1.200.00 Wages Expense Truck Expense S 1,300.00 s Rent Expense 2500.00 S Miscellaneous expense 2600.00 Salanes expense 6.00000 s $ Blue Print expense 5.500.00 Supplies Expense s 1.750.00 S 30000 Insurance Expense Deg Expense 325.00 Total Expenses s 22475.00 Net Income-AB 5 18925.00 Marjorie Knaus ne Statement of Retained Earnings Balance voor het Marjorie Kraus Inc Balance Sheet For the month ended 31/012020 Assets S 9025.00 Accounts Receivable sco Ottice Supplies Prepaid Insurance Property Plant and Equiment Equipment 5 BLOOD 00 5 10000 5 7.900.00 Accumulated Depreciation Eguiment Trucks $ 28.500.00 Accumulated Depreciation Trucks S 225.00 S 25.27500 Total Assets $ 80.250,00 Labutis & Stockholder's culty Current Labates Accounts Payable s 9.50000 Wages Payable The currentibus $3000.00 Long term Les 5 2015 Stock's Commonsta Bandage SUSO A Marjorie Knaus Inc Post Closing Entries Particular Debit Service Revenue $ 40.400.00 To Income Summary service revenue transferred to Income summary account) $ 21.475.00 S 1.200.00 Income Summary Wages Expense Truck Experse Rent Expense S 1300.00 S 2,500.00 Miscellaneous Expense S 2600.00 Salaries Expense S 6.000.00 Blue Print expe se S 5,500.00 s 1.750.00 s 300.00 Supplies Expense Insurance Expense Deprecation Expense (Expenses transferred to income Summary Account $ 325 00 18,925.00 Income Summary Retained Earnings income transferred to retained Earnings Expenses transferred to income Summary Account 5 Income Summary 18.92500 s Retained Earnings Income transferred to retained Earnings) Marjone Xhaus in Post Closing Trial Balance on January 31st 2020 Account Title Explanation Debt $ 9.025.00 Accounts Receivable s 3140000 S 350.00 Office Supplies Prepaid insurance $ 3.30000 Ement $ 3.000.00 Acumulated Depreciation Ecument 5 10000 21.500.00 5 Acme Depreciation Trus Accounts Payne Wages Por 5 5 1200.00 5 Common Sto 0.0000 S 19 Milone krause 19 Use the information on the financial statements to answer the following questions: 1) Was Marjorie Kunus, Inc. profitable in January 2020? From a management persepetive, what are your thoughts about the company's financial perfromance? 2) Has the stockholders' equity grown? How does stockholder's equity grow, and is this good for the business? 3) If looking for a loan, can Marjorie Knaus, Inc. expect to get the loan? Give your reasons for your response. (Hint: Calculate some appropriate ratios, such as Current ratio, Cash Ratio, Quick ratio, Return on Assets, and Working Capital. These ratio may help.) Current Ratio Quick Ratio Cash Ratio Working Capital Return on Assets 4) If you are looking for an investment opportunity, would you invest in Marjorie Knaus, Inc.? What specifically about the company is appealing? If Marjorie Knaus, Inc. establishes another branch of the business in Venice, Italy, what accounting standards will the company use to record the accounting activities and prepare the financial statements? Marione Knaus Inc Income Statement For the month ended 31/01 2020 Revenue $ 40.400.00 Service Revenue Total Revenue S 10.000.00 Expenses S 1.200.00 Wages Expense Truck Expense S 1,300.00 s Rent Expense 2500.00 S Miscellaneous expense 2600.00 Salanes expense 6.00000 s $ Blue Print expense 5.500.00 Supplies Expense s 1.750.00 S 30000 Insurance Expense Deg Expense 325.00 Total Expenses s 22475.00 Net Income-AB 5 18925.00 Marjorie Knaus ne Statement of Retained Earnings Balance voor het Marjorie Kraus Inc Balance Sheet For the month ended 31/012020 Assets S 9025.00 Accounts Receivable sco Ottice Supplies Prepaid Insurance Property Plant and Equiment Equipment 5 BLOOD 00 5 10000 5 7.900.00 Accumulated Depreciation Eguiment Trucks $ 28.500.00 Accumulated Depreciation Trucks S 225.00 S 25.27500 Total Assets $ 80.250,00 Labutis & Stockholder's culty Current Labates Accounts Payable s 9.50000 Wages Payable The currentibus $3000.00 Long term Les 5 2015 Stock's Commonsta Bandage SUSO A Marjorie Knaus Inc Post Closing Entries Particular Debit Service Revenue $ 40.400.00 To Income Summary service revenue transferred to Income summary account) $ 21.475.00 S 1.200.00 Income Summary Wages Expense Truck Experse Rent Expense S 1300.00 S 2,500.00 Miscellaneous Expense S 2600.00 Salaries Expense S 6.000.00 Blue Print expe se S 5,500.00 s 1.750.00 s 300.00 Supplies Expense Insurance Expense Deprecation Expense (Expenses transferred to income Summary Account $ 325 00 18,925.00 Income Summary Retained Earnings income transferred to retained Earnings Expenses transferred to income Summary Account 5 Income Summary 18.92500 s Retained Earnings Income transferred to retained Earnings) Marjone Xhaus in Post Closing Trial Balance on January 31st 2020 Account Title Explanation Debt $ 9.025.00 Accounts Receivable s 3140000 S 350.00 Office Supplies Prepaid insurance $ 3.30000 Ement $ 3.000.00 Acumulated Depreciation Ecument 5 10000 21.500.00 5 Acme Depreciation Trus Accounts Payne Wages Por 5 5 1200.00 5 Common Sto 0.0000 S 19 Milone krause 19 Use the information on the financial statements to answer the following questions: 1) Was Marjorie Kunus, Inc. profitable in January 2020? From a management persepetive, what are your thoughts about the company's financial perfromance? 2) Has the stockholders' equity grown? How does stockholder's equity grow, and is this good for the business? 3) If looking for a loan, can Marjorie Knaus, Inc. expect to get the loan? Give your reasons for your response. (Hint: Calculate some appropriate ratios, such as Current ratio, Cash Ratio, Quick ratio, Return on Assets, and Working Capital. These ratio may help.) Current Ratio Quick Ratio Cash Ratio Working Capital Return on Assets 4) If you are looking for an investment opportunity, would you invest in Marjorie Knaus, Inc.? What specifically about the company is appealing? If Marjorie Knaus, Inc. establishes another branch of the business in Venice, Italy, what accounting standards will the company use to record the accounting activities and prepare the financial statements
