Make the Balance Sheet in narrative format as at June

Assignment Help Accounting Basics
Reference no: EM132997719

Question - Assume at 30 June 2020, Assets, Liability, Equity, Income and Expense amounts for ABC Building Renovation are presented below:

Cash in bank $68,400

Account receivable $202,800

Supplies $79,000

Equipment $226,800

Account payable $101,100

Capital ?

Service income $1,158,000

Salary expenses $483,000

Prepaid insurance $24,000

Supplies expenses $142,000

Bank loan $30,000

Advertising expenses $25,000

Required - Make the Balance Sheet in narrative (vertical) format as at 30 June 2020.

Reference no: EM132997719

Questions Cloud

Speech of personal significance : Speech of Personal Significance - what you feel comfortable sharing and you don't have to do any research
What would be the amount upon which a MACRS deduction : The building qualifies as 39-year recovery property and has a $20,000 salvage value. What would be the amount upon which a MACRS deduction
What is a component unit of a state and local government : Please state what these criteria are? What is a "component unit" of a state and local government
Research about the interviewee : Prepare several interview questions to ask the interviewee. The questions should not be questions to which the interviewee
Make the Balance Sheet in narrative format as at June : Assume at 30 June 2020, Assets, Liability, Equity, Income and Expense amounts for ABC Building Renovation. Make Balance Sheet in narrative format as at June
What qualitative factors would Colin consider : Colin O'Shea has a carpentry shop that employs 4 carpenters. What qualitative factors would Colin consider before he decides to buy the tabletop or make it
Demonstrate an understanding of agile concepts : Undertake research to demonstrate an understanding of Agile concepts, tools and techniques and Briefly describe an example of a current commonly known challenge
What is the current price of the stock : If investors require a return of 9.5% on The H & Son's stocks, what is the current price of the stock? What will the price be in three years? In 15 years
Determine the value of ending inventory : Determine the value of ending inventory and materials used under the following methods: a. FIFO - periodic and b. FIFO - perpetual

Reviews

Write a Review

Accounting Basics Questions & Answers

  Compute how the new benefits will impact the net pay

The organization will pay 50% of the cost of the AD&D premiums and 50% of the cost of the vision, Explaining how these new benefits will impact their net pay

  What was silverman net income for first year in operation

The company produced 5,000 units and sold 3,000 units at a price of $7.50 a unit. What was Silverman net income for first year in operation

  Studied feed data to the general ledger system

Your text notes that all of the business processes we have studied feed data to the general ledger system. For each of the 5 business processes listed below: • Indicate which of the business events listed are activities within that business process (..

  Material price and usage variances for the month

a) Calculate the material price and usage variances for the month. b) Calculate the labor rate and efficiency variances for the month.

  Which the company summarizes significant accounting policies

Which the company summarizes its significant accounting policies, discuss the method(s) each company uses for measuring its property

  What amount should carolyne include in profit for year

Coronel accepted the offer. What amount should Carolyne include in profit or loss for the year 2014 as a result of the settlement of the obligation?

  Determine the break-even point in composite units

Madison Corporation, Determine the break-even point in composite units for the current sales mix (round to the nearest unit) is

  Prepare the HSMs journal entry to record the bond issuance

HSM Corporation issued a 10 year, 9% bonds, with a par value of $500,000 when the market rate was 9.5%. Prepare the HSMs journal entry to record bond issuance

  The retained earnings account has been charged for

1. hartman inc. has prepared the following comparative balance sheets for 2012 and 2013 2013 2012 cash 287000 153000

  Compute the amount of donated capital

Compute the amount of donated capital that Marasigan Corporation would present on Dec. 31, 2018 statement of financial position

  Upton company was started on january 1 2011 when the owners

upton company was started on january 1 2011 when the owners invested 168000 cash in the business. during 2011 the

  Brief explanation of the accounting treatment

Imagine that you are an investment analyst for your organization, report a brief explanation of the accounting treatment for unrealized gains and losses

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd