ZEUS COMPANY COMPARATIVE INCOME STATEMENT For the years 2019 and 2018 2019 2018 Rate of Inc(Dec) Sales P500,000.00 (0.50%) Cost of Goods Sold 50% 40% Gross Profit P301,500.00 Operating Expenses: Salaries P95,000.00 P97,000.00 Rent 25,000.00 25,000.00 Marketing 20,000.00 5% Utilities 1% 5,000.00 Other Expenses 7,500.00 10,000.00 Total Expenses Net Income
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- The following information pertains to Crossroads Consulting, Inc. Match each of the following parts of Crossroads accounting information system in the left-hand column with the appropriate item(s) from the right-hand column. You may use items in the right-hand column more than once or not at all. There may be several answers for each item in the left-hand column. You may choose items in the right-hand column more than once.1. Using a spreadsheet with the indirect method, entry (a) records net income as the first item on the spreadsheet in the Operating Activities section, with the corresponding entry as a debit to Retained Earnings. credit to Retained Earnings. credit to Income Summary. debit to Cash. 2. As you complete the spreadsheet to account for all the changes in the noncash accounts that occurred during the current period, you are constructing entries that will need to be journalized and posted when the spreadsheet is complete. reconstructing the journal entries that caused the changes in the noncash accounts. undoing the journal entries that caused the changes in the noncash accounts. doing none of these choices.Identify the missing information from the accounting equation. Signify increases as Incr. and decreases as Decr. In each box you have the options: -Assets -Credit -Debit -Decr. -Equity -Incr. -Liabilities -Owner, Withdrawals
- Consider the following accounts: aClick the icon to view the accounts.) Identify the financial statement (or statements) that each account would appear on. Use I for Income Statement, OE for Statement of Owner's Equity, B for Balance Sheet, and C for Statement of Cash Flows. (If an input field is not used in the table leave the input field empty; do not select a label.) Financial statement(s) account appears on Accounts Payable а. b. Cash c. Owner, Capital d. Accounts Receivable e. Rent Expense f. Service Revenue g. Office Supplies h. Owner, Withdrawals i. Land j. Salaries ExpenseThe Steps in Preparing a Worksheet Put the steps in the correct order that the worksheet is prepared. 1. [ Choose ] [Choose] Enter adjustment data. Enter adjusted balances. Total the statements columns, computer net income/(loss), and complete the worksheet. Prepare a trial balance on the worksheet. Extended adjusted balances to appropriate statement columns. (Choose 3 [ Choose ) (Choose ] 2.Please provide the following formulas: 1. The Fundamental Accounting Equation 2. The Formula for Computing Net Income 3. The Formula for the Balance Sheet Part 3 Please give one or two examples of accounts in the following categories: Assets Liabilities Owner's Equity (provide only one example for this account) Revenue Expenses Please make sure that your initial post contains a properly cited reference. Please use APA style. You should cite your text as a minimum.
- I. Multiple Choice Directions: Choose the letter corresponding to the correct answer for each of the questions provided below. 1. Accounts receivable or the amount to be received when a customer orders on account is an example of what account? b. Liability d. All of the above a. Asset c. Equity 2. Expenses incurred on paying utilities belong to what type of account? b. Liability d. All of the above a. Asset c. Equity 3. If Company A borrows money from company B, the transaction results to a. İncrease in asset of A and increase in asset in B b. Increase in asset of A and decrease in equity of B c. Increase in asset of A and no effect on assets of B d. Both B and C 4. Equity means assets minus liabilities. Other terms that can be used synonymously Q2with equity are the following except a. Capital b. Net assets d. Profit c. Net worth 5. Sources of legal obligation are the following except a. The law c. Debts • Source: Ferrer R.C. et.al. (2017). Fundamentals of Accountancy, Business and…Studypug.com Recliner Company wants to verify that all of its accounts are in balance. Which of the following will be prepared for this purpose? a.Balance sheet b.General ledger c.Trial balance d.Chart of accountsIdentify how each of the following separate transactions through 10 affects financial statements. For increases, place a "i" and the dollar amount in the column or columns. For decreases, place a"- and the dollar amount in the column or columns. Some cells may contain both an increase (+) and a decrease (-) along with dollar amounts. The first transaction is completed as an example. Required: a. For the balance sheet, identify how each transaction affects total essets, total abilities, and total equity For the income statement, identify how each transaction affects net income. b. For the statement of cash flows, identify how each transaction affects cash flows from operating activities, cash flows from investing activities, and cash flows from Snancing activities. Transaction 1. Owner invest $300 cash in business in exchange for vock 2 Rives $700 cash for services provided 3 Pays $500 cash for employee wages & Buys $100 of equipment on cred 5 Purchases $200 af supplies on credit &…
- please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) Provided is a trial balance. Please complete an multi-step income statement. I will give you a thumbs up. Thank youSelect the correct answer from the dropdown menu which describes the impact the following transactions have on the asset. liabilities and equity sections of the accounting equation. You must select an answer for every cell Le. Assets, Liabilities and Equity.On a sheet of paper, draw the fundamental accounting equation with T accounts under each of the account classifications, with plus and minus signs and debit and credit on the appropriate side of each account. Under each of the classifications, draw T accounts, again with the correct plus and minus signs and debit and credit, for each of the following accounts of Davie Engine Repair.