Using the trial balance below, prepare the following: -Statement of Comprehensive Income (2 Statement Approach) -Statement...
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Using the trial balance below, prepare the following: -Statement of Comprehensive Income (2 Statement Approach) -Statement of Stockholders Equity -Statement of Financial Position Calculate the following ratios: -Gross Profit Percentage -Working Capital -Current Ratio -Debt to Equity Ratio Marita Markets, Inc. Trial Balance FYE 12/31/2023 Cash Debit $ 435,470 Notes Payable Due in 10 years Current Portion of Long Term Debt Property, Plant & Equipment (Net) Investments in Affiliate Companies (non-current) Accounts Receivable Bonds Payable (Due in 20 years) Investments at Fair Value (Current) Accounts Payable Deferred Tax Liability (non current) Dividends Payable Merchandise Inventory Credit $ 725,000 390,779 2,750,000 123,543 195,507 1,128,500 678,590 648,264 330,700 45,000 Intangible Assets (Net) 137,000 45,000 Income Tax Payable 82,000 Common Stock 335,000 Treasury Stock 20,000 Retained Earnings - 1/1/2022 593,010 Accumulated Other Comprehensive Income - 1/1/2022 3.400 Accumulated the Comprehen Dividends Sales 45,000 380,500 Dividend Income 700 Interest Income 600 Gain on Disposal of Plant Assets 4,800 Unrealized Gain on Trading Securities Cost of Goods Sold Selling Expenses Advertising Expenses Office Supplies Expense 2,500 112,500 2,250 4,400 1,500 Sales Salaries Expense 5,000 Office Salaries Expense 1,890 Accounting and Legal Fees - Administration 575 Systems Consulting Fees - General 670 Depreciation Expense - General 2,500 Amortization Expense - General 2,750 Interest Expense Income Tax Expense Loss on Asset Impairment Loss on Discontinued Operations - Before Tax Unrealized Loss on Available for Sale Securities Total 1,150 95,158 900 750 1,850 $ 4,667,353 $ 4,667,353 Other Data: Issued No Par Common Stock Repurchased Shares Tax Rate $40,000 $20,000 38% Common Stock Beginning Balance $295,000 2 # 3 $ 4 95 +A $ Drag n' Drop here or Browse MacBook Pro & 6 7 W E R T Y U S D LL F G H 00 9 K 0 Using the trial balance below, prepare the following: -Statement of Comprehensive Income (2 Statement Approach) -Statement of Stockholders Equity -Statement of Financial Position Calculate the following ratios: -Gross Profit Percentage -Working Capital -Current Ratio -Debt to Equity Ratio Marita Markets, Inc. Trial Balance FYE 12/31/2023 Cash Debit $ 435,470 Notes Payable Due in 10 years Current Portion of Long Term Debt Property, Plant & Equipment (Net) Investments in Affiliate Companies (non-current) Accounts Receivable Bonds Payable (Due in 20 years) Investments at Fair Value (Current) Accounts Payable Deferred Tax Liability (non current) Dividends Payable Merchandise Inventory Credit $ 725,000 390,779 2,750,000 123,543 195,507 1,128,500 678,590 648,264 330,700 45,000 Intangible Assets (Net) 137,000 45,000 Income Tax Payable 82,000 Common Stock 335,000 Treasury Stock 20,000 Retained Earnings - 1/1/2022 593,010 Accumulated Other Comprehensive Income - 1/1/2022 3.400 Accumulated the Comprehen Dividends Sales 45,000 380,500 Dividend Income 700 Interest Income 600 Gain on Disposal of Plant Assets 4,800 Unrealized Gain on Trading Securities Cost of Goods Sold Selling Expenses Advertising Expenses Office Supplies Expense 2,500 112,500 2,250 4,400 1,500 Sales Salaries Expense 5,000 Office Salaries Expense 1,890 Accounting and Legal Fees - Administration 575 Systems Consulting Fees - General 670 Depreciation Expense - General 2,500 Amortization Expense - General 2,750 Interest Expense Income Tax Expense Loss on Asset Impairment Loss on Discontinued Operations - Before Tax Unrealized Loss on Available for Sale Securities Total 1,150 95,158 900 750 1,850 $ 4,667,353 $ 4,667,353 Other Data: Issued No Par Common Stock Repurchased Shares Tax Rate $40,000 $20,000 38% Common Stock Beginning Balance $295,000 2 # 3 $ 4 95 +A $ Drag n' Drop here or Browse MacBook Pro & 6 7 W E R T Y U S D LL F G H 00 9 K 0
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Answer rating: 100% (QA)
First lets prepare the financial statements as per your request Statement of Comprehensive Income 2 Statement Approach Marita Markets Inc For the Year Ended December 31 2023 Revenues Sales 380500 Divi... View the full answer
Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1119368458
7th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
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