You are the accountant for Trumpet and Trombone Manufacturing, Inc. and you oversee the preparation of financial statements for the year just ended 6/30/2020. You have the following information from the companys general ledger and other financial reports (all balances are end-of-year except for those noted otherwise): Prepare the companys Statement of Retained Earnings

Using the following Company X information, prepare a Retained Earnings Statement: Retained earnings balance January 1, 2019, $121,500 Net income for year 2019, $145,800 Dividends declared and paid for year 2019, $53,000

Required: Prepare the following statements of the company from the data given above: Income Statement for the year ending at December 31, 2020 Retained Earnings Statement for the year ending at December 31, 2020 Balance Sheet as at December 31, 2020 NOTE: ADD 50,000 to revenues to correct the given entries

Wilton Felder Ltd is finalising its financial statements for the year ended 31 October 2024. You are presented with the following information: Income statement for the year ended 31 October 2024 £ 175,900 Sales revenue Cost of Sales (99,370) Gross profit 76,530 Operating expenses Interest income (51,280) 40 1,400 Finance costs Profit before tax 23,890 Corporation tax expenses (6,450) Profit for the year 17,440 Balance sheets as at 31 October Non-current assets Property plant & equipment at cost Less Accumulated Depreciation Current Assets Inventory Trade receivable Cash at bank and in hand Total assets Current liabilities Trade and other payables Corporation tax payable Non-current liabilities Bank Loans Net assets Equity Share capital Share premium Retained earnings Total equity 31/10/24 £ 132,040 (32,210) 99,830 24,130 17,520 4,220 45,870 145,700 20,060 5,270 25,330 28,320 92,050 24,410 13,800 53,840 92,050 31/10/23 £ 111,580 (28,870) 82,710 27,220 11,740 2,140 41,100 123,810 17,860…

Preparing financial statements Presented here are the accounts of Hometown Decor Company for the year ended December 31, 2018. Requirements Prepare Hometown Decor Company’s income statement. Prepare the statement of retained earnings. Prepare the balance sheet.

As a financial analyst of Bintang Bulan Berhad, you are required to analyse the company's financial performance. The financial statements of the company are as follows: BINTANG BULAN BERHAD STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2022 (RM) Cash Account Receivable Inventory Prepaid expenses Net buildings and equipment TOTAL ASSETS Depreciation 48,500 Account Payable Notes Payable 64,000 Operating profit Less: Interest Profit before tax Less: Tax PROFIT AFTER TAX 56,000 21,000 2,500,500 Revenue Less: Cost of goods sold Gross profit Less: Selling and administrative expenses Current Ratio Quick Ratio Debt Ratio Time Interest Earned Accruals Long-term debt Bond Preferred share Common share Retained earnings 2,690,000 TOTAL CLAIMS BINTANG BULAN BERHAD STATEMENT OF PROFIT OR LOSS FOR THE YEAR ENDED 31 DECEMBER 2022 INDUSTRY AVERAGE RATIOS 2.10 times Average Collection Period 1.30 times Inventory Turnover Net Profit Margin 30 percent 6.5 times Return on Assets 38,000 24,000 20,000…

Locate Gap Inc.’s 2020 Annual Report (for fiscal year  2/2/20-1/30/21)   There are 10 sections of questions.  You will find the information necessary to answer the questions in “Item 8. Financial Statements and Supplementary Data,” of the report.  Read through the questions carefully and answer in the space provided.    What are the following amounts at 1/30/21:   Total Assets : Total Liabilities: Total Owner’s Equity : At 1/30/21:   What is the percentage of debt used to finance Gap? What is the percentage of owner’s equity used to finance Gap?   What is the significance of these two percentages?

The assets and liabilities of Snub Services as of March 31, 2020, the end of the current year, and its revenues and expenses for the year ended March 31, 2020 are listed below. The Retained Earnings balance was $10,030 at April 1, 2019, the beginning of the current year. Accounts Payable: $1,620 Accounts Receivable: $8,360 Cash: $27,950 Dividends: $13,130 Equipment: $82,770 Fees Earned: $115,430 Net Income: $ Upon completion of its financial statements for the year ended (and as of) March 31, 2020, Snub Services would report the following amounts: Ending Retained Earnings: $ Land: $58,970 Miscellaneous Expense: $1,960 Office Expense: $6,260 Stock: $98,050 Ending Total Liabilities and Equity: $ Supplies: $3,430 Wage Expense: $22,300

Presented below is selected information related to Sheridan Company at December 31, 2019. Sheridan Company reports financial information monthly. Accounts Payable $ 3,360 Salaries and Wages Expense $18,480 Cash 10,080 Notes Payable 28,000 Advertising Expense 6,720 Rent Expense 10,976 Service Revenue 60,480 Accounts Receivable 15,120 Equipment 32,480 Dividends 8,400 Determine the total assets of Sheridan Company at December 31, 2019. Total assets of Sheridan Company $4 UNK TO TEXT Determine the net income that Sheridan Company reported for December 2019. Net income of Sheridan Company 24