Assignment: Due March 27, 11:59 p.m. 25 points Angle Co. presents you with the following trial...

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Assignment: Due March 27, 11:59 p.m. 25 points Angle Co. presents you with the following trial balance (small company, and it's simple). $ 20, 00 25, 00 180, 00 5,00 500, 00 Cash Accounts receivable Inventory Prepaid expenses Machinery Accumulated depreciat on Other assets Accounts payable Income taxes payable Long-term debt Commen staek (250,00) 15.00 (15,00) (2.000) (145,00) (100 (95.000) (225,00) esope (450,00) Additional paid-in capi al Retained earnings Sales Cost of goods sold Marketing expense Administrative expenses Depreciation expense Other expenses Income tax expense 260,000 85,000 75,000 5,1100 21,000 1,00 aebnu You recall from your accounting class that debits are positive nu mbers and credits are negative numbers (shown in parentheses above). You also recall that a trial balance is organized by the nature of the account. It's not a random ordering of accounts. Your Assignment: 1. In Word or Excel, created a statement of financial position (balance sheet) and an income statement for Angle Co based on the trial balance above Do your best formatting it, and making it look professional and ready to present to a bank for a loan. 2. Identify something inte esting about the statements, just one thing, in a sentence (or two) describing it and explai ning why it's interesting to you. Maybe something that raises a question. Correctness of the financial sta tements and formatting count. Spelling, too! Do your best! Assignment: Due March 27, 11:59 p.m. 25 points Angle Co. presents you with the following trial balance (small company, and it's simple). $ 20, 00 25, 00 180, 00 5,00 500, 00 Cash Accounts receivable Inventory Prepaid expenses Machinery Accumulated depreciat on Other assets Accounts payable Income taxes payable Long-term debt Commen staek (250,00) 15.00 (15,00) (2.000) (145,00) (100 (95.000) (225,00) esope (450,00) Additional paid-in capi al Retained earnings Sales Cost of goods sold Marketing expense Administrative expenses Depreciation expense Other expenses Income tax expense 260,000 85,000 75,000 5,1100 21,000 1,00 aebnu You recall from your accounting class that debits are positive nu mbers and credits are negative numbers (shown in parentheses above). You also recall that a trial balance is organized by the nature of the account. It's not a random ordering of accounts. Your Assignment: 1. In Word or Excel, created a statement of financial position (balance sheet) and an income statement for Angle Co based on the trial balance above Do your best formatting it, and making it look professional and ready to present to a bank for a loan. 2. Identify something inte esting about the statements, just one thing, in a sentence (or two) describing it and explai ning why it's interesting to you. Maybe something that raises a question. Correctness of the financial sta tements and formatting count. Spelling, too! Do your best!

Answer rating: 100% (QA)

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