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Hello, I have this results and I would like to know if the following ratios are correct, please:
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Howard's Flight Radio Management Corporation Income Statement For the Month Ending March 31 Howard's Flight Radio Management Corporation Statement of Retained Earnings For the Month Ending March 31 Howard's Flight Radio Management Corporation Balance Sheet March 31 Revenues: Retained Earnings, March 1 Assets: Cash SI8,060 2,200 $5.350 FMS Repar Revenue Total Revenue Add: Net income 2,025 2.025 5,350 Subtotal Prepaid Insurance Repar Suppies Repar Equipment Less: Accum. Depr. Total Assets Less: Dividends Retained Eamings, March 31 1,000 S1.025 200 Expenses: Store Rent Expense Telephone Expense 1,900 340 5,800 120 S26, 140 Irisurance Expernse 200 Uablitles and Stockholders' Equity Liabilities: Repar supples Exp. Depreciation Exp. Income Taxes Expense Electric Expense Total Expenses 120 65 $5,050 Accounts Fayable Income Taxes Payable Total Liabilities 250 65 3,325 5.115 Net Incorme 2.025 Stockholders' Equity: Comman Stack 20,000 Rolained Eurrings Total Stockholders' Equity 1,025 21,025 Total Liabilities & Stockholders' Equity $26,1 40 Howard's Flight Radio Management Corporation Income Statement For the Month Ending March 31 Howard's Flight Radio Management Corporation Statement of Retained Earnings For the Month Ending March 31 Howard's Flight Radio Management Corporation Balance Sheet March 31 Revenues: Retained Earnings, March 1 Assets: Cash SI8,060 2,200 $5.350 FMS Repar Revenue Total Revenue Add: Net income 2,025 2.025 5,350 Subtotal Prepaid Insurance Repar Suppies Repar Equipment Less: Accum. Depr. Total Assets Less: Dividends Retained Eamings, March 31 1,000 S1.025 200 Expenses: Store Rent Expense Telephone Expense 1,900 340 5,800 120 S26, 140 Irisurance Expernse 200 Uablitles and Stockholders' Equity Liabilities: Repar supples Exp. Depreciation Exp. Income Taxes Expense Electric Expense Total Expenses 120 65 $5,050 Accounts Fayable Income Taxes Payable Total Liabilities 250 65 3,325 5.115 Net Incorme 2.025 Stockholders' Equity: Comman Stack 20,000 Rolained Eurrings Total Stockholders' Equity 1,025 21,025 Total Liabilities & Stockholders' Equity $26,1 40
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Related Book For
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Posted Date:
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