\\ Based on the balance sheet below calculate ratio Assets Cash 5,000 A/R 1,200
ID: 2487009 • Letter: #
Question
Based on the balance sheet below calculate ratio
Assets
Cash 5,000
A/R 1,200
Inventory 8,200
Equipment 9,200
A/D (500)
Total Assets 23,100
Liabilities
A/P 7,300
Unearned Revenue 1,300
Loan 6,200
Equity
Capital 8,300
Total Liab. & equity 23,100
RATIO=
Millers 1 month of operations . With the information below prepare a statement of owners equity in proper order
Adjusted trial balance
Cash 8,130
A/R 3,300
Prepaid Expense 2,750
Equipment 10,400
Accumulated Depreciation 2,200
A/P 2,700
Notes Payable 1,000
Diane Capital 11,200
Diane Drawing 4,870
Fees Earned 36,000
Wages Expense 12,450
Rent Expense 4,900
Utility Expense 3,475
Depreciation Expense 2,150
Misc. Expense 1,275
TOTAL 53,700 53,700
Create Owners Equity
Based on the balance sheet below calculate ratio Assets Cash 5,000 A/R 1, 200 Inventory 8,200 Equipment 9,200 A/D (500) Total Assets 23,100 Liabilities A/P 7,300 Unearned Revenue 1,300 Loan 6,200 Equity Capital 8,300 Total Liab. & equity 23,100 RATIO= Millers 1 month of operations. With the information below prepare a statement of owners equity in proper order Adjusted trial balance Cash 8,130 A/R 3,300 Prepaid Expense 2,750 Equipment 10,400 Accumulated Depreciation 2,200 A/P 2,700 Notes Payable 1,000 Diane Capital 11, 200 Diane Drawing 4,870 Fees Earned 36,000 Wages Expense 12,450 Rent Expense 4,900 Utility Expense 3,475 Depreciation Expense 2,150 Misc. Expense 1, 275 TOTAL 53,700 53,700 Create Owners EquityExplanation / Answer
Net Income Fees Earned 36000 Less: Expenses Wages 12450 Rent 4900 Utility 3475 Depreciation 2150 Misc. 1275 24250 Net Profit 11750 Owners Equity Capital 8300 Add: Net Income 11750 Less: Drawings -4870 Equity 15180
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