Accounts relate to keenal real estate, Financial Accounting

Assignment Help:

Prepare a financial statement from alphabetic listing of accounts:
A number of accounts balances are listed below these accounts relate to Keenal Real Estate. During the year just ended. Keenel invested additional of 7500 in the business
Accounts payable                                12250
Accounts Receiveable                          21900
Advertising expense                           10500
Building                                            45000
Cash                                                 3620
Entertainment Expense                      16400
Equipment                                       21700
Interest Expense                              3700
Land                                              12000
Misc Expance                                    2460
Mortgage Payable                            39500
Notes Payable                                  21300
Office supplies on hand                     1720
Real Estate commission earned        143750
Salalries payable                              1730
Travel Expense                              15900
Withdrawls                                     14860
keenan Capital Dec 31 1995             xxxxx
Keenan Capital Jan 1 1995              11050

Required:
Prepare the three principal financial statements from the data of the year ended Dec 31, 1995.

(Total Assets will be = 105940)


Related Discussions:- Accounts relate to keenal real estate

Which investment is riskier, Stock A has an expected return of 9 percent, a...

Stock A has an expected return of 9 percent, a standard deviation of 20 percent, and a market beta of 0.5. Stock B has an expected rate of return of 10 percent, a standard deviatio

Example on lenders evaluation, Table on subsequent page lists 21 ratios bei...

Table on subsequent page lists 21 ratios being calculated by the Bombay Stock Exchange. Tick the board class to that each of the 21 ratios belongs to the blank columns of the Table

Trustees duties in administering the d of a, Trustee's duties in administer...

Trustee's duties in administering the D of A 1) To carry out the trusts of the D of A and to distribute the property assigned to him in accordance with the provisions of the D of

Linear Programming Problem using Simple method, Maximize Z= 3x1 + 2X2 Subje...

Maximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 = 4 X1 - X2 = 2 X1, X2 = 0

Journalizing, ABC Corportation purchased $15,000 of office furniture by put...

ABC Corportation purchased $15,000 of office furniture by putting down $7000 soqn in cash and the rest on accout

Participation of employees in management, Q. Participation of Employees in ...

Q. Participation of Employees in Management? To facilitate meaningful and effective participation of workers in the management process it was decided in March 1994 that the Cor

What you understand by the term gender budgeting, Question 1: (a) "MT...

Question 1: (a) "MTEF is about resource control, resource allocation and resource utilization." You are required to identify and discuss the different stages of MTEF. (N

The balance sheet-financial statement, THE BALANCE SHEET It shows the f...

THE BALANCE SHEET It shows the financial position of the company as at the end of a given financial period. The standard requires that assets and liabilities should be classifi

Npv cash flow model, As discussed earlier, the base case public sector comp...

As discussed earlier, the base case public sector comparator (PSC) will be a benchmark for different project bidding proposals when choosing the preferred bidder to provide the bes

Write Your Message!

Captcha
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