Preparing financial statements from the work sheet, Biology

Assignment Help:

When the work sheet is finished all the essential information to prepare the statement of retained earnings, income statement and balance sheet is readily available. Currently you need only recast the information into the appropriate financial statement format.

The information you require to prepare the income statement is in the work sheet's Income Statement columns in Exhibit 20. The information you require to prepare the statement of retained earnings is taken from the Statement of Retained Earnings columns in the work sheet. To make this statement use the beginning Retained Earnings account balance adds the net income or deduct the net loss and then subtract the Dividends. Hold the ending Retained Earnings balance forward to the balance sheet. Keep in mind that the statement of retained earnings helps to relate income statement information to balance sheet information. It does this by representative how net income on the income statement relates to retained earnings on the balance sheet.

2313_Preparing financial statements from the work sheet.png

The information essential to prepare a balance sheet comes from the Balance Sheet columns of Micro Train's work sheet. As stated previous the correct amount for the ending retained earnings appears on the statement of retained earnings.


Related Discussions:- Preparing financial statements from the work sheet

Define cerebral hemisphere tissue, Q. Define cerebral hemisphere tissue? ...

Q. Define cerebral hemisphere tissue? CEREBRAL WHITE MATTER - The remaining cerebral hemisphere tissue is the deeper cerebral white matter (60% of cerebral volume) which includ

Concept of nursing unit, CONCEPT OF NURSING UNIT: Concept in the desig...

CONCEPT OF NURSING UNIT: Concept in the design and facilities of nursing unit has been changed time to time based on the different categories of patients and peculiarities of

Zoo flagellates, #question names of 10 zoo flagellates

#question names of 10 zoo flagellates

Dietary management for ulcerative colitis, Q. Dietary Management for ulcera...

Q. Dietary Management for ulcerative colitis? Proper dietary management is important for maintaining a good nutritional status of the patient. Long-term management is generally

Explain rifaximin, Explain Rifaximin Rifaximin (Xifaxan - Salix), a non...

Explain Rifaximin Rifaximin (Xifaxan - Salix), a non-absorbed oral antibiotic derived from rifampin (Rifadin, and others), has been approved by the FDA for treatment of travele

What is the difference between dna and rna, Q. Concerning their biological ...

Q. Concerning their biological function what is the difference between DNA and RNA? DNA is the source of information for RNA production (transcription) and thus for protein syn

Cromngnon skull, Subsequently many such fossils were known from France, Ita...

Subsequently many such fossils were known from France, Italy and middle East. All such fossils exhibited reduced brow ridges, steep forehead, high rounded cranial vault, short face

Illustrate numerical taxonomy, Q. Illustrate Numerical Taxonomy? Taxono...

Q. Illustrate Numerical Taxonomy? Taxonomy today is, in many dctails, different from what it was a generation ago. The use of computers by taxonomists has established an intere

Is there chloroplasts in cyanobacteria, Q. Is there chloroplasts in cyanoba...

Q. Is there chloroplasts in cyanobacteria? In cyanobacteria there is no chloroplast and the chlorophyll layers are dispersed in cytosol.

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