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 - P4-2A The adjusted trial balance columns of the worksheet for ...
- accounting - 1. Describe the roles and responsibilities of management and ...
- accounting - describe a balance sheet, income statement, retained earnings ...
- financial accounting - Review the annual reports for PepsiCo, Inc. and The Coca-...
- accounting - here is what I need to do; however my problem is I can not find ...
- accounting - indicate in the table below the financial statement on which each ...
- ACCOUNTING - This is our next assignemt due. I do not know where to begin ...
- acc/220 - Write a 350- to 700-word paper describing a balance sheet, an income ...
- financial management - You have been hired by first citizens bank as a financial...