Print Done Requirement 2. Post the transactions to the T-accounts. Insert in each account its balance as given (example: Cash $1,300) Begin by entering the appropriate beginning balances and posting transactions (a) through (c). Label each balance and transaction. (Leave any unused cells blank. Do not enter "0" beginning balances. Do not post transactions (d) and beyond until after you have checked your work and then, move to the next step.) Common Shares Cash Data Table During June 2020, the business completed these transactions. Received cash of $9,400 and issued common shares. a. Performed services for a client and received cash of $6,300. Paid $4,500 on accounts payable. Accounts Payable b. Service Revenue C. d. Purchased supplies on account, $600. e. Collected cash from a customer on account, $500. Consulted on the design of a business report, and billed the client for services rendered, $2,900. f. Recorded the following business expenses for the month: paid office rent, $1,4003; g. paid advertising, $500. Declared and paid a cash dividend of $2,100. Choose from any list or enter any number in the input fields and then click Check Answer, ver h. 3 parts remaining 12:43 PM

Using the Balance Sheet and Income Statement please calculate the following:   Balance Sheet Assets   Liabilities and Owner’s Equity   2018 2019   2018 2019 Current Assets Current Liabilities   Cash 300 325   Acts Pay 480 400 Accs Rec 275 270 Notes Pay 560 500 Inventory 600 675 Total 1,040 900 Total 1,175 1,270     Long Term Debt 950 1,200 Fixed Assets     Net Fixed 2,350 2,875 Owners Equity     Preferred Stock 750 845 Retained Earn 785 1,200 Total 1,535 2,045 Total Assets 3,525 4,145 Total Liabilities & OE 3,525 4,145         2019 Income Statement Net Sales   3,456 COGS   1,895 Depreciation   235 EBIT   1,326 Interest   320 Taxable Income   1,006 Taxes   211.26 Net Income   794.74   Dividends 147     Additions to Retained Earnings 647.74…

E9-6 Current Position Analysis Obj. 3 .................. The following data were taken from the comparative balance sheet of Icon Living, Inc., for the years ended December 31, 20Y9 and December 31, 20Y8: Cash Temporary investments Accounts and notes receivable (net) Inventories Prepaid expenses Total current assets Accounts payable Accrued liabilities Total current liabilities ▸ Details Dec. 31, 20Y9 $ 75,000 125,000 250,000 425,000 25,000 $ 900,000 $ 350,000 25,000 $ 375,000 Dec. 31, 2018 $ 50,000 75,000 200,000 305,000 20,000 $ 650,000 $ 230,000 20,000 $ 250,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. b. What conclusions can be drawn from these data?

Chapter 5, page 344 and 349: EA12. 5.3 Using the following Balance Sheet summary information, calculate for the two years presented: A. working capital B. current ratio 12/31/2018 12/31/2019 $76,000 48,000 Current assets $295,000 Current liabilities 163,500 After computing liquidity ratios, comment on the performance of an entity using acceptable standards of liquidity performance

Q2. The following information has been extracted from the draft financial statements of Moba limited.. MOBA LIMITED STATEMENTS OF FINANCIAL POSITION AS AT 31 JUNE 2021 2022 Non-current assets Current assets Inventory Trade receivables Bank Total assets Equity and liabilities Equity Ordinary share capital Share premium Retained earnings Non-current liabilities 10% Loan note (redeemable 31 June 2022) Current liabilities Trade payables Taxation Bank overdraft Operating profit Interest payable Profit before taxation K'000 Taxation 450 180 58 580 360 0 K'000 Κ'000 4,600 940 5.540 3,500 300 1,052 4,852 0 688 5.540 Additional information (a) The statement of profit or loss for the year ended 31 June 2022 shows the following. 500 230 170 K'000 Profit for financial year (b) During the year dividends paid were K270,000. (c) Profit before taxation had been arrived at after charging K700,000 for depreciation on DANCON assets. (d) During the year non-current assets with a net book value of K200,000…

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Comparative balance sheet accounts of Flounder Inc. are presented below. FLOUNDER INC.COMPARATIVE BALANCE SHEET ACCOUNTSAS OF DECEMBER 31, 2020 AND 2019December 31Debit Accounts                            2020        2019Cash  $42,300  $34,000Accounts Receivable  70,600  59,600Inventory  30,000  23,900Equity investments  22,500  38,700Machinery  29,700  18,600Buildings  67,900  56,600Land  7,500  7,500            $270,500  $238,900Credit Accounts Allowance for Doubtful Accounts  $2,200  $1,500Accumulated Depreciation—Machinery  5,700  2,300Accumulated Depreciation—Buildings  13,600  8,900Accounts Payable  34,800  24,500Accrued Payables  3,300  2,700Long-Term Notes Payable  21,200  31,200Common Stock, no-par  150,000  125,000Retained Earnings  39,700  42,800                             $270,500  $238,900 Additional data (ignoring taxes): 1. Net income for the year was $43,100.2. Cash dividends declared and paid during the year were $21,200.3. A 20% stock dividend was declared during the…

Balance Sheet The following is an alphabetical list or Lloyds Hudson Dealership Inc.s December 31, 2019, balance sheet accounts and amounts: Required: 1. Prepare a properly classified balance sheet for Lloyds Hudson Dealership as of December 31, 2019. List the additional parenthetical or note disclosures (if any) that should be made for each item. 2. Next Level Compute the current ratio. What does it indicate about Lloyds Hudson Dealership?

Balance Sheet The following is a list (in random order) of KIP International Products Companys December 31, 2019, balance sheet accounts: Required: 1. Prepare a properly classified balance sheet according to U.S. GAAP for KIP as of December 31, 2019. 2. Assume instead that KIP uses IFRS. Prepare its balance sheet as of December 31, 2019.

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