Income statement is asked in question but informtion given is related to balance Sheet not related to income statement so iam preparing balance sheet Balance Sheet Assets Amount in $ Liabilites Amount in $ Non - Current Assets Non -Current Liabilites Building Equipment Total Fixed assets 100000 Long Term Loan 100000 100000 Total Non -Current Liabilites 100000 200000 Current Liabilites Notes Payables Total Liabilites Equity Owners Equity Retained earnings Current Assets 20000 Account Recivables 10000 120000 Cash in Bank 20000 10000 100000 Total Assets 230000 Total Liabilites and Equity 230000

Q: The balance sheet lists which of the following?A. assets, liabilities, and owners’ equityB.…

A: Every business wants to see and review its financial results at the end of the period. It means how…

Q: What is the debit for the investment of the owner * O debit assets debit liability debit equity…

A: When owner invests amount or assets in the business, then one side it will increase assets for the…

Q: How to make an income statement and a blance sheet?

A: Income Statement is a statement which is prepared to see profitability position of the business by…

Q: In performing vertical analysis, we express each item in a financial statement as a percentage of a…

A: Vertical Analysis: Vertical analysis is prepared to analyze the relationship among various financial…

Q: Describe how debits and credits affect assets, liabilities, and permanent owners’ equity accounts.

A: Asset: Assets refer to the resources owned by the business, which are utilized in the course of the…

Q: Which of the given series have the same effect on Owners' Equity? Select one: a. Owner's Drawings…

A: Owner's equity indicates the owner's balance in the firm it can be calculated by the following…

Q: How is the income statement related to the statement of financial position

A: An income statement is a financial statement which shows the entity's incomes and expenditures over…

Q: How do you create a common size balance sheet with all assets as a percentage of total assets

A: Common size statement analysis, as the name suggests, first converts the financial statement as a…

Q: are income and expenses included in the equity?

A: Lets understand the basics. Equity is a amount invested by the owner of the entity. In company, we…

Q: What is owner Capital listed as a debit or credit

A: Solution: Owner capital is the amount of capital invested in business by owner. This is shown as…

Q: Explain the components of income statement, Owners equity Statement and Balance sheet statement?

A: Income Statement:   It is a financial statement prepared by a company at the end of a financial…

Q: If you're using the accrual accounting methodology, how do you figure out your net income?

A: Model of Accrual Accounting: This is a frequently used accounting principle that indicates the order…

Q: What's the connection between the income statement and the balance sheet

A: This question deals with  the connection between the income statement and the balance sheet

Q: State the normal balances for the following accounts: a. Assets b. Liabilities c. Capital d. Drawing…

A: Revenue: Revenue is money your business receives from its normal business activities. Expenses:…

Q: From othe basic accounting equation Assets = Liabilities + Owners Equity, where does uncollectible…

A: As per accounting equation, assets = Liabilities + owners' equity

Q: How are the income statement and balance sheet connected?

A: Income statement: The financial statement which reports revenue and expenses from business…

Q: Make your own income statement

A: A statement of income is a financial document that identifies the income and expense of the company.…

Q: Duo Corporation is evaluating a project with the following cash flows: Year Cash Flow 0 -$ 28,900 1…

A: Modified Internal Rate of Return (MIRR) is a financial metric used in capital budgeting that adjusts…

Q: Steps and illustration on how to come up with a income statement account and statement of financial…

A: Income statement is the statement in which net income for the firm is ascertained by deducting the…

Q: balance sheet lists v

A: First option is wrong because revenues, expenses, gains and distributions to owners are listed in…

Q: What is Owner’s Capital or Equity Financing? Asap

A: Equity financing refers to the practice of raising funds by selling stock. Companies raise funds for…

Q: How to do income statement? Step by step

A: Following is the procedure to prepare an income statement

Q: The liabilities on a balance sheet are represented by which of the following?Choose one answer.a.…

A: Balance sheet: It refers to a financial statement that shows all the liabilities, assets, and…

Q: Which of the following accounts is an owners equity account ? A.Account payable B.Prepaid expenses…

A: Owners Equity Account It is the owners' investment in an asset after all liabilities have been…

Q: How is the balance sheet related to the income statement?

A: Balance sheet is a part of financial statements that lists company’s assets, liabilities and…

Q: Please prepare classified balance sheet and statement of owners equity.

A: Balance sheet lists all the assets which is owned by the business, owner's equity band liabilities…

Q: Identify the correct components of the income statement.A. revenues, losses, expenses, and gainsB.…

A: The income statement seems to be a statement that displays the net profit of the company as well as…

Q: Calculate Brisky's Net Income.

A: Income statement:   The financial statement which reports revenues and expenses from business…

Q: Where is accrued income reported in the balance sheet?

A: Accrued income is the amount which has been earned by a person or entity but the same person or…

Q: ome/loss at the end of income statement

A: The net income/loss at the end of income statement is  total income(loss) from continued and…