ACCT 2241.2 F Assignment #1 Chapter 1 Due date/time: Monday, January 22, 2024, 11:59 Jordan Corporation began operations on March 1, 2023. The following data is available for March 31: Accounts payable Accounts receivable Cash Contributed capital Expenses, excluding income taxes Income taxes, unpaid Inventory Revenues 43,000 22,000 10,000 1,000 80,000 4,000 27,000 95,000 Required: 1. Prepare the income statement for the month ending March 31, 2023. 2. Prepare the balance sheet for March 31, 2023.

ACCT 2241.2 F Assignment #1 Chapter 1 Due date/time: Monday, January 22, 2024, 11:59 Jordan Corporation began operations on March 1, 2023. The following data is available for March 31: Accounts payable Accounts receivable Cash Contributed capital Expenses, excluding income taxes Income taxes, unpaid Inventory Revenues 43,000 22,000 10,000 1,000 80,000 4,000 27,000 95,000 Required: 1. Prepare the income statement for the month ending March 31, 2023. 2. Prepare the balance sheet for March 31, 2023.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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12/31/2018 12/31/2019 Unearned revenue $12,900 $6,200 Cash 33,600 13,350 Prepaid rent 9,500 6,500 Supplies 5,800 2,800 Taxes payable 5,200 5,800 Wages payable 9,000 9,450 Using the above account balances, compute working capital and current ratio. Round "Current ratio" answers to two decimal places. 12/31/2018 12/31/2019 A. Working capital $_______ $_______ B. Current ratio _______ _______
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#9 O Item Prior year Current year Accounts payable 8,193.00 7,858.00 Accounts receivable 6,044.00 6,592.00 Accruals 1,021.00 1,379.00 Cash ??? ??? Common Stock 11,724.00 12,455.00 COGS 12,775.00 18,196.00 Current portion long-term 4,957.00 5,018.00 debt Depreciation expense 2,500 2,754.00 Interest expense 733 417 Inventories 4,101.00 4,775.00 Long-term debt 14,725.00 14,635.00 Net fixed assets 50,550.00 54,207.00 Notes payable 4,377.00 9,925.00 Operating expenses (excl. 13,977 18,172 depr.) Retained earnings 28,729.00 29,950.00 Sales 35,119 47,942.00 Тахes 2,084 2,775 What is the firm's cash flow from investing? Submit Answer format: Number: Round to: 0 decimal places. unanswered not_submitted Attempts Remaining: Infinity
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Safari 4:22 PM Tue Jan 30 < HW Set 1 (Ch 2 and 3) Template Calibri (Body) fx Enter text or formula here A 1 E 2.16 2 Information for Montgomery, Inc. 3 4 5 6 7 Cash 8 Accounts Receivable 9 Inventory 10 PP&E, net 11 Goodwill NOPAT for 2020 12 Other operating assets 13 A/P 14 Accrued Expenses and other 15 Unearned revenues 16 Long-term debt 17 Common stock 18 19 20 a. 21 NOA for 2019 22 NOA for 2020 23 24 b. 25 26 27 28 29 30 31 32 33 34 35 Retained earnings 2020 FCF E 2.16 E 2.17 E 3.15 11 B HE E 3.18 Home Insert $ BIU C 3,150 2019 3,590 5,650 10,240 21,840 13,160 3,450 10,400 10,350 3,120 7,680 18,840 7,540 + Draw Page Layout ABC 2020 4,260 8,340 11,460 26,110 14,310 4,720 13,310 13,740 4,770 8,350 18,930 10,100 ch LL F Formulas Data G Review View General H < E < H: AH L O M Σ ☎: 50% |||| O
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DIRECTIONS 1 Journalize the entry to RECORD the payroll 2 Journalize the entry to RECORD the employer's payroll taxes (SUTA rate is 3.7%) 3 Journalize the entry to deposit the FICA and FIT taxes TOTAL EARNINGS FICA OASDI FICA HI FIT W/H STATE TAX UNION DUES NET PAY $36,195.10 $2,244.10 $524.83 $6,515.00 $361.95 $500.00 $26,049.22 1 JOURNAL DATE DESCRIPTION DEBIT CREDIT 2 JOURNAL DATE DESCRIPTION DEBIT CREDIT…
#8 O Item Prior year Current year Accounts payable 8,100.00 7,786.00 Accounts receivable 6,081.00 6,685.00 Accruals 1,000.00 1,553.00 Cash ??? ??? Common Stock 10,998.00 11,247.00 COGS 12,678.00 18,011.00 Current portion long-term 4,928.00 4,981.00 debt Depreciation expense 2,500 2,774.00 Interest expense 733 417 Inventories 4,250.00 4,824.00 Long-term debt 13,238.00 13,578.00 Net fixed assets 51,887.00 54,423.00 Notes payable 4,300.00 9,879.00 Operating expenses (excl. 13,977 depr.) 18,172 Retained earnings 28,209.00 29,224.00 Sales 35,119 45,333.00 Taxes 2,084 2,775 What is the firm's cash flow from financing? Submit Answer format: Number: Round to: 0 decimal places. unanswered not_submitted Attempts Remaining: Infinity
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