Reference no: EM133182399
Please answer the following questions submit your responses electronically.
1. Identify the source of the information needed to prepare the income statement.
2. Describe two approaches to listing the expenses in the income statement.
3. Identify the sources of the information needed to prepare the statement of owner's equity.
4. If additional investments were made during the year, what information in addition to the work sheet would be needed to prepare the statement of owner's equity?
5. Identify the sources of the information needed to prepare the balance sheet.
6. What is a permanent account? On which financial statement are permanent accounts recorded?
7. Name three types of temporary accounts.
8. List the four steps for closing the temporary accounts.
9. Describe the net effect of the four closing entries on the balance of the owner's capital account. Where else is this same amount calculated?
10. What is the purpose of the post-closing trial balance?
11. List the ten steps in the accounting cycle.
|
Compute an income statement for the shop
: The owner of a bicycle repair shop forecasts revenues of $216,000 a year. Compute an income statement for the shop based on these estimates
|
|
Differences between job analysis and work analysis
: Discuss the differences between job analysis and work analysis. Then select and briefly elaborate on one work analysis process/technique used by industrial-orga
|
|
Identifying the four functions of management
: Charlene worked in a large fashion store for women. She was a sales clerk in the sportswear department, and her manager was Ms. Crisp. Charlene
|
|
What are the ending capital balances for each partner
: James, Keller, and Rivers have the following capital balances; $48,000, $70,000 and $90,000 respectively. What are the ending capital balances for each partner
|
|
List the ten steps in the accounting cycle
: Please answer the following questions submit your responses electronically.
|
|
Journalize the adjusting entry required at january
: Journalize the adjusting entry required at January 31, the end of the first month of the current fiscal year, to record the accrued product warranty
|
|
Venture capitalists provide funds to finance new companies
: In hope of high returns, venture capitalists provide funds to finance new companies.which one do you believe provides highest possible return for new company
|
|
Record the second month lease payment
: Metlock's incremental borrowing rate is 6% a year (0.5% a month). Simon's implicit rate is unknown. Record the second month lease payment
|
|
Explain the relevance of training to participants
: Detailed knowledge of the products that Peach Phones produces has traditionally not been a high priority for the learning and development staff such as yourself
|