E1-18 00 Using the accounting equation to analyze business transactions [5-10 min] Great City Builders balance sheet data at May 31, 2012, and June 30, 2012, follow: June 30, 2012 $213,000 May 31, 2012 Total assets $177,000 Total liabilities 122,000 144,000 Requirement 1. Following are three situations about owner's investments and drawings of the business during June. For each situation, compute the amount of net income or net loss during June 2012. a. The owner invested $6,000 in the business and made no withdrawals. b. The owner made no investments. The owner withdrew cash $10,000. c. The company owner made investments of $18,000 and withdrew cash of $20,000.

10. Fast Motorcycle's selected accounts as of December 31, 2025, follow: View the accounts and balances. Prepare the multi-step income statement for the year ended December 31, 2025. Net Income (Loss) Fast Motorcycle Income Statement Year Ended December 31, 2025 Accounts and Balances Selling Expenses Interest Revenue $ 11,500 1,500 Net Sales Revenue 118,000 Cost of Goods Sold 81,000 Administrative Expenses 8,500 Print Done ☑

1.The following accounts and balances were taken from the financial statements of r@ktas Inc. Prepare a classified balance sheet as of December 31,2018. $ 40.000 $ 80.000 $ 5.000 $ 120,000 $ 43,000 $ 15,000 $ 75,000 Bank credit Cash Short-term investments Accounts payable Property&Equipment Retained earnings Inventory Capital Prepaid insurance ? $ 12,000 r@ktas Inc. Balance Sheet at December 31,2020

Question Carlene Johnson is the Accountant in the Finance Department at Fairway Trading Limited who manages the company Accounts Receivables. She was given the following information by the Finance Manager which was extracted from the debtor's ledger as at December 31, 2022. Category of Total value of Customers Sales To Customer $ Keith Green Karen White June Hinds John Wayne 180,0000 240,000 390,000 380,000 Paul Gayle 346,000 Date of Sales December 16, 30 days 2021 December 10, 60 days 2021 November 15, 2022 30 days June 26, 2022 30 days 30 days August 25, 2022 Terms Percentage provision to be created Date of Last Payment on A/C January 15, 2022 February 14, 2022 December 20, 2022 October 24, 2022 September 24, 2022 Total Amount Paid to Date on Account S 90,500 180,000 170,000 295,000 235,000 The Accountant decided that she would age the debt outstanding in the following category and the percentage to be provided for bad debt in the amount stated beside each category accordingly. Aging…