Question: Using the data set below, create the company's balance sheet and income statement according to generally accepted accounting standards. Provide brief information about the

Using the data set below, create the companys balance sheet and income statement according to generally accepted accounting

Using the data set below, create the company's balance sheet and income statement according to generally accepted accounting standards. Provide brief information about the financial situation of the company by calculating the financial ratios you deem necessary. Mr. RAM's LLC Vehicles 100.000 Sellers (Suppliers) 130.000 Domestic Sales 450.000 Long Term Payables to Shareholders 150.000 Cash and Cash Equivalents 10.000 Net Period Profit 30.000 Cost of Goods Sold 370.000 Short Term Bank Credits 70.000 Capital 200.000 Finished Goods 100.000 Buyers (Customers) 300.000 Short Term Notes Payables 50.000 Short Term Notes Receivables 100.000 Financial Expenses 50.000 Long Term Bank Credits 30.000 Advances Given for Purchases 50.000

Step by Step Solution

★★★★★

3.39 Rating (152 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

INCOME STATEMENT PARTICULARS AMOUNT REVENUE DOMESTIC SALES 450000 EXPENSES COGS ... View full answer

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 Corporate Finance Questions!

The following balance sheet and income statement data were taken from the records of Standard Center Manufacturing for the year ended December 31, 2018. The company sells goods and provides services....

The following balance sheet and income statement data were taken from the records of Harbaugh Auto Supply for the year ended December 31, 2018: The company sells goods and provides services. All...

The following balance sheet and income statement data were taken from the records of Mako Retail Supply for the year ended December 31, 2018: Prepare the operating section of the statement of cash...

Problem 2 (20 Points): Using the data set below, create the company's balance sheet and income statement according to generally accepted accounting standards. Provide brief information about the...

Using the info set below, create the company's balance sheet and income statement according to accepted accounting standards. Provide brief information about the financial situation of the company by...

Ratio Analysis - Access the information contained in your selected organization?s balance sheet and income statement to calculate the following: Liquidity ratios Current ratio Acid-test, or quick,...

Below is the assignment, attached in the excel file is actually all the answers, I need these transferred into my own excel file, answering all the questions below. Integrated mini-case: ?Working...

Use the information presented to prepare a Form 1065 and Schedule D. Also prepare one Schedule K-1 (on form 1065) for Ms. Maine. ACCT 346 Spring 2014 Tax Return Case Study Part 2 -- Form 1065 During...

Not every part of the form need to be filled out. So please read the direction carefully. thank you. Forms to Complete (2015) Form 1065 (not Schedule B) Schedule Dand Forms 8949 Form 1125-A Schedule...

Review case 4.1 Enron Corporation and Andersen, LLP . Complete the following Required questions related to this case, 1-5, in approximately 75 to 90 words. QUESTIONS TO BE ANSWERED: Review case 4.1...

When do we look at Adjusted R-squared rather than regular R-squared? What would you do if adding an independent variable decreased the Adjusted R-squared value?

Cassandra wants to produce consistently sized baked goods, so she draws a sample of 12 cashew toffee tarts and weighs them (in ounces). She finds a 90% confidence interval of (3.8, 4.2). Which is the...

A researcher uses Likert scale items asking nurses how strongly they agree with various statements about professional identity. The items are totaled to form an overall score. This is an example of...

1 You are investigating fraudulent activities committed by two employees at your company. You're asked to provide non-refutable evidence to confirm it. What type of evidence will you provide? 0 / 1...

The Denver Company currently has a bond issue outstanding which carries a coupon rate of 6.4 percent, makes semiannual payments, currently sells for $967.40, and matures in 8.4 years. Suppose Denver...

GoGames is a software developer that sells games and apps through its own internet site. In addition to selling its own products, it offers products developed by SmallStuff and remits 95% of the...

Consider the following cash flows. All market interest rates are 12% Year 0 1 2 3 4 Cash Flow 160 170 180 230 a. What price would you pay for these cash flows? What total wealth do you expect after 3...

Gopher, Inc. developing its upcoming budgeted Costs of Quality (COQ) with the following information: Expense Item Budget Raw Materials Inspection $ 15,000 EPA Fine 200,000 Design Engineering 15,000...

Make the journal entry (or entries) necessary to record the following transaction: Purchased equipment with a fair market value of $100,000. Paid $10,000 cash as a down payment and signed two notes...

With respect to the Wireless segments long-lived assets (tangible and intangible) described in the data given above, what SFAS No. 157 fair value disclosures are necessary for the year ended December...

On January 1 of Year 1, Dridge Company purchased 2,500 shares of the 10,000 outstanding shares of Company C for a total of $100,000. At the time of the purchase, the book value of Company C's equity...

An object moving in a liquid experiences a linear drag force: = (bv, direction opposite the motion), where b is a constant called the drag coefficient. For a sphere of radius R, the drag constant can...

A particle of mass m moving along the x-axis experiences the net force F x = ct, where c is a constant. The particle has velocity v 0x at t = 0. Find an algebraic expression for the particles...

Large objects have inertia and tend to keep movingNewtons first law. Life is very different for small microorganisms that swim through water. For them, drag forces are so large that they instantly...