Question
You was given the following information to create both a financial statement and income statement. After you have created the financial statements, please answer the
You was given the following information to create both a financial statement and income statement. After you have created the financial statements, please answer the questions below. Total Equity 18000 Income 31000 Cash 15000 Mortgage Payable 10000 Accts Receivable 8000 Advertising Exp 10000 Total Fixed Assets 17000 Salary Exp 4000 Rent Exp 7000 Insurance Exp 6000 Accts Payable 9000 Tax Payable 3000
Using the information given. What are the Total Expenses?
Using the information given. What is the Total Income(Revenue)?
Using the information given. What is the company's Net Income?
Using the information given. What are the Total Current Assets?
Using the information given. What are the Total Assets?
Using the information given. What are the Total Current Liabilities?
Using the information given. What are the Total Long term Liabilities?
Using the information given. What are the Total Liabilities and Owner's Equity?
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Connect For Financial Accounting Information For Decisions
Authors: Author
10th Edition
1260386937, 9781260386936
