Question: Based on your financial statements for Business Solutions answer the following questions: 2. In discussing Business Solutions latest financial statements, you as the manager say

 Based on your financial statements for Business Solutions answer the following

questions: 2. In discussing Business Solutions latest financial statements, you as the

Based on your financial statements for Business Solutions answer the following questions: 2. In discussing Business Solutions latest financial statements, you as the manager say that it is the "the net income results on the bottom line" that really count. What do you mean? Which financial statement are you referring to? Are the results reflected on your financial statement satisfactory? Explain your answer. Business Solutions Unadjusted Trial Balance Adjusted Trial Balance Post-Closing Trial Balance Credit Credit Credit Debit | 52 014 5 768 4445 1 980 3220 8500 Debit 50 614 5 768 640 1 485 805 8500 Debit 50 614 5 768 640 1 485 805 8500 22 000 22 000 22 000 1375 1375 1 800 1 800 December 31, 2018 Account Cash Accounts receivable Computer supplies Prepaid insurance Prepaid rent Office equipment Accumulated depreciation Office equipment Computer equipment Accumulated depreciation-Computer equipment Accounts payable Wages payable Unearned computer services revenue Common stock Retained earnings Dividends Computer services revenue Depreciation expense-Office equipment Depreciation expense-Computer equipment Wages expense Insurance expense Rent expense Computer supplies expense Advertising expense Mileage expense Miscellaneous expenses Repairs expense-Computer Income Summary 1 600 68 000 420 1 600 68 000 1 800 420 1 600 68 000 16192 60001 7400 40259 40259 2830 425 1375 3250 495 2415 3 805 2678 759 250 1215 2678 759 250 1215 Totals 111659 111659 113879 113879 [ 89812 89812 Done = Photo (13 of 23) Debit Credit 0.250 Computer services Income summary 40259 Income summary Depreciation expense Computer aument Wages exponse Insurance expense Rente Computer supplies expense Advertising expert Meage opere Miscellaneous expenses Rocas xente Computer Direction expense Office guiment oo 00000OOOOOOOO clooooo Dec 31 Income summary 2002 DO 31 Roland Gaming 7400

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!