The question needs three financial statements: Cash flow, Retained earning, net income, One of our client companics, EA Community Laundry Chain, asked us for a consultation ontheir company's operations. Based on the accounting information provided by them, please useyour professional knowledge to assist them in the preparation of five financial statement basedon the information below (Income statement, financial position statement, retained earningsstatement, comprehensive income statement, cash flow statement).Sales revenue: $555,080Inventory: $102,000Cost of goods sold: $210,000Bonds payable: $78,000Financing Costs: $10,000Notes payable (due in 5 months): $24,400Selling and administrative expenses:$75,000Buildings: $80,400Share capital: $60,000Gain on sale of plant assets: $45,000Accumulated depreciation-equipment:$10,000Unrealized gain on non-trading securities:$15,000Prepaid advertising: $5,000Loss on discontinued operations: $20,000Supplies: $1860Dividends declared and paid: $50,400Taxes payable: $3000Allocation to non-controlling interest:$60,000Cash: S???(Need to be confirmed in theFinancial Position Statement)Equipment: $40,000Salaries and wages payable: $900Interest payable: $600Accumulated depreciation-buildings:$15,000Land: $157,320Please prepare five financial statements based on the data provided by Pizza Mr. Park, Inc

Net Income- The balance left over after subtracting the cost of products sold and expenses from a…

One of our client companies, EA Community Laundry Chain, asked us for a consultation on their company's operations. Based on the accounting information provided by them, please use your professional knowledge to assist them in the preparation of five financial statement based on the information below (Income statement, financial position statement, retained earnings statement, comprehensive income statement, cash flow statement). Sales revenue: $555,080 Inventory: $102,000 Cost of goods sold: $210,000 Bonds payable: $78,000 Financing Costs: $10,000 Notes payable (due in 5 months): $24,400 590 400

One of our client companies, EA Community Laundry Chain, asked us for a consultation on their company's operations. Based on the accounting information provided by them, please use your professional knowledge to assist them in the preparation of five financial statement based on the information below (Income statement, financial position statement, retained earnings statement, comprehensive income statement, cash flow statement). Sales revenue: $555,080 Inventory: $102,000 Cost of goods sold: $210,000 Bonds payable: $78,000 Financing Costs: $10,000 Notes payable (due in 5 months): $24,400 590 400

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter1: Introduction To Accounting

Section: Chapter Questions

Problem 1SEA: PURPOSE OF ACCOUNTING Match the following users with the information needed. 1. Ownersa. Whether the...

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