Posted by elfida on Tuesday, February 1, 2011 at 3:04pm.
From the information that follows, prepare an income statement and balance sheet for ABC Management Consulting for presentation at the annual board of directors meeting. Use proper formatting of financial statements by reviewing the various illustrations and exhibits in the texts. For the purposes of this assignment, you can ignore income taxes. You may use either a word-processing or electronic spreadsheet program to present your information.
Long-term investments: $100,000.
Accounts receivable: $60,660.
Depreciation expense: $10,000.
Office supplies: $17,000.
Salaries expense: $105,000.
Prepaid insurance: $3,600.
Interest expense: $3,750.
Office equipment: $120,000.
Insurance expense: $4,600.
Accounts payable: $32,000.
Rent expense: $14,400.
Interest payable: $2,150.
Office supplies expense: $3,000.
Salaries payable: $16,000.
Advertising expense: $48,000.
Long-term notes payable: $75,000.
Utilities expense: $11,000.
Retained earnings: $120,000.
Interest earned: $5,000.
Cost of goods sold: $406,845.
Accumulated depreciation: $10,000.
Answer this Question
Finance - From the information that follows, prepare an income statement and ...
accounting - 1. Describe the roles and responsibilities of management and ...
accounting - P4-2A The adjusted trial balance columns of the worksheet for ...
accounting - You have been asked to prepare a presentation for the next board of...
accounting - here is what I need to do; however my problem is I can not find ...
accounting - describe a balance sheet, income statement, retained earnings ...
accounting - What is a balance sheet typically used for? What information on the...
Accounting - In 2014 ABC Company reported net income of $100,000. What would be ...
accounting - What decisions do management make that is dependent on the balance ...
accounting - 1)utilities expense, 2)accounts payable, 3)commissions,4)capital, 5...