O need help with this I try to do but the total is not correct. I got balance sheet 69,000 and Liabilities and owners Equity like 56,500. Can you help me by putting the amounts of the Income statement, the amounts from the owners' equity statement, the balance sheet, Thank you.
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O need help with this I try to do but the total is not correct. I got balance sheet 69,000 and Liabilities and owners Equity like 56,500.
Can you help me by putting the amounts of the Income statement, the amounts from the owners' equity statement, the balance sheet, Thank you.
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- This is the debit and credit side of my income statement and balance sheet. Since it's a loss, should i also put parenthesis on credit total 395,000 to add it to 205,500 and will then balance the debit side?Hello, I need help with the income statement and owner's equity statement. I have a detached my answers for it along with the statement of owner's equity in balance statement. Thanks!!!Pls show me how to calculate each one. and show me full detail explanations. Dont JUST give me the answers. I need formulas and explanation. Thats more important than the solutions. Please I really need help. I failed both of my tests on accounting. I just dont get it. It's so hard. List all the advertising, selling, expenses and what is the operating profit. I mainly need help with that. Below is a list of balances for Sandals Inc. for the year ending December 31, 2020. All balances are in thousands of dollars. Sandals Inc. follows IFRS. Assume a tax rate of 20%. Exclude the presentation of earnings per share for this question. Unlimited common shares are authorized and 2,700 have been issued and are currently outstanding.The notes payable is payable over 5 years and $4,000 will be paid by December 31, 2021. Account Title Balance Accounts Payable $9,800 Accounts Receivable $12,900 Accumulated Depreciation $1,200 Advertising Expense $1,200 Cash $19,900 Cash Dividends…
- I have to do my accounting problems on excel and I have to record the transactions, but have a total for each column. If someone bought a computer from wardens office outfitters, $1,636, paying $750 in cash and placing the balance on account what does that mean exactly? I have other questions to but I'm not sure how this works.I have to create t-accounts and set up the balance sheet and the financial statements with the journal entries listed. I got my t-accounts set up and started the balance sheet, but could't get my credits and debits to equal. If you could work through this problem, including the financial statements, I'd greatly appreciate it. Team Battleship Transactions Cash 1,500 Owners Capital 1500 Purchase Oriental Avenue for $100Answer: Land (Asset) $100 Cash (Asset) $100 Purchase St. Charles Place for $140 Land(Asset) 140 Cash(Asset) 140 Purchase Kentucky Ave for $220 Land(Asset) 220 Cash(Asset) 220 Pay $50 to get out of jailAnswer: Fines & Penalty Expense $ 50 Cash (Asset) $ 50 Purchase States Ave for $140 Land(Asset) 140…sing the expanded accounting equation, calculate and enter the answers for each question. You will need to use the answers you calculate for beginning and ending equity to answer the rest of the questions. Assets Beginning of Year: $25,000 - $19,000 Liabilities End of Year: $60,000 - $25,000 1) What is the equity at the beginning of the year? Beginning Equity 6,000 2) What is the equity at the end of the year? Ending Equity 35,000 3) If the owner contributes $5,400 and the owner withdraws $38,500, how much is net income (loss)? Net Income (Loss) 62,100 This the answers I need help with but you need all of this to answer the questions 4 If net income is $3,400 and owner withdrawals are $8,900, how much did the owner contribute (owner, capital)? Owner, Capital 5) If the owner contributes $16,200 and net income is $19,800, how much did the owner withdraw (owner, withdrawals)? Owner, Withdrawals 6) If the owner contributes $43,600 and the owner withdraws $1,900, how much…
- Account and Real/Nominal I need two answers for the following accounts. I need to know if they are assets, liabilities, equity, expense, or revenue. Then I need to know if they are Real or Nominal accounts. This is the second time I am asking this questions because the last individual Smith, Drawings as a Personal Account. There is NO such thing. Asset, Liability, Equity, Expense, Revenue!! 1) Service Fees Revenue2) Interest Receivable3) Smith, drawings4) Interest Income5) Sales6) Supplies ExpenseHenry Josstick has just started his first accounting course and has prepared the following balance sheet and income statement for Omega Corporation. Unfortunately, although the data for the individual items are correct, he is very confused as to whether an item should go in the balance sheet or income statement and whether it is an asset or liability. BALANCE SHEET Payables $ 44 Inventories $ 59 Less accumulated depreciation 129 Receivables 80 Total current assets Total current liabilities Long-term debt $ 395 Interest expense $ 34 Property, plant, and equipment 565 Total liabilities Net fixed assets Shareholders’ equity $ 126 Total assets Total liabilities and shareholders’ equity INCOME STATEMENT Net sales $ 790 Cost of goods sold 625 Selling, general, and administrative expenses 47 EBIT Debt due for repayment $ 34 Cash 24 Taxable income Federal plus other taxes $ 24 Depreciation 21 Net income Prepare the balance sheet…Hey I need help with this accounting homework please no explanation or answers from online just follow the instructions which says put in the number which means I need to put in the correct numbers in as my answers. Please, thank you! Clint M. Invests $30,000 into Merle Company. The effect to Liabilities would be: (Type your numeric answer) Clint M. Invests $30,000 into Merle Company. The effect to Equity would be. (Type your numeric answer) Merle Company purchased a piece of equipment for $5,000 on account. The effect to Assets would be: (Type your numeric answer) Merle Company purchases a equipment for $5,000 on account. The effect to liabilities would be: (Type your numeric answer) Merle Company purchases a piece of equipment for $5,000 on account. The effect to Equity would be: (Type your numeric answer) Merle Company pays $1,000 for this month’s rent in cash. The effect to Assets would be: (Type your numeric answer) Merle Company pays $1,000 for this month’s rent…
- Henry Josstick has just started his first accounting course and has prepared the following balance sheet and income statement for Omega Corp. Unfortunately, although the data for the individual items are correct, he is very confused as to whether an item should go in the balance sheet or income statement and whether it is an asset or liability. BALANCE SHEET Payables $ 39 Inventories $ 54 Less accumulated depreciation 124 Receivables 55 Total current assets Total current liabilities Long-term debt $ 370 Interest expense $ 29 Property, plant, and equipment 540 Total liabilities Net fixed assets Shareholders’ equity $ 106 Total assets Total liabilities and shareholders’ equity INCOME STATEMENT Net sales $ 740 Cost of goods sold 600 Selling, general, and administrative expenses 42 EBIT Debt due for repayment $ 29 Cash 19 Taxable income Taxes $ 19…Henry Josstick has just started his first accounting course and has prepared the following balance sheet and income statement for Omega Corp. Unfortunately, although the data for the individual items are correct, he is very confused as to whether an item should go in the balance sheet or income statement and whether it is an asset or liability. a.Prepare the balance sheet and income statement by rearranging the above items. b.In the process of constructing the balance sheet, please show me the total current assets, total assets, total current liabilities, and total liabilities. c.In the process of constructing the income statement, please calculate the gross profit, operating profit (EBIT),taxable income and net profit.Could you tell me if the following Accounts are Assets, Liabilities or Equity?1) Accounts Receiveable2) Smith, Capital3) Wages, Payable4) Cash5) Interest Receivable6) Taxes Payable7) Smith, Drawings8) Retained Earnings9) Buildings10) Land