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The adjusted trial balance for Anara Co. as of December 31, 2013, follows.
P. Anara invested $40,000 cash in the business during year 2013 (the December 31, 2012, credit balance of the P. Anara, Capital account was $52,800). Anara Company is required to make a $8,400 payment on its long term notes payable during 2014.Required:1. Prepare the income statement and the statement of owner,s equity for the calendar year 2011 and the classified balance sheet at December 31, 2013.2. Prepare the necessary closing entries at December 31, 2013.3. Use the information in the financial statements to calculate these ratios: (a) Return on assets (total assets at December 31, 2012, were $160,000), (b) Debt ratio, (c) Profit margin ratio (use total revenues as the denominator), (d) Current ratio. Round ratios to three decimals for parts a and c, and to two decimals for parts b andd.
smith west and krug form a partnership. smith contributes 207000 west contributes 172500 and krug contributes 310500.
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In this assignment, you will use the Internet and other sources to gather and interpret information related to service and manufacturing organizations.
Yates Corporation began operations on January 2, 2010. It employs 15 people who work 8-hour days. Each employee earns 10 paid vacation days annually. Please prepare journal entries to record the transactions related to paid vacation days during 201..
Identifiable net assets were equal to their carrying amounts
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The most popular way for international expansion is for a local firm to acquire foreign companies. One of the most benefits for international expansion is global distribution capability that helps expanding the market share. In the meantime, domes..
What were the beginning balance and ending balance for Merchandise Inventory?
presented is information related to rogers co. for the month of january 2010. ending inventory per perpetual records
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