Chapter 6 Peachtree

recitation 7-1: Answer the following questions about the sense of sense of equilibrium sheet of paper and income statement. 1. The entire assets ar $499,890.96 2. The total uppercase is $319,102.64 3. Indicate the nitty-gritty of the light up income or ( cabbage loss) for the calendar month of March. ($3,037.39) 4. The afoot(predicate) months gross profit is $64,839.74 5. The current months total expenses are $67,877.13 An asset is an detail of honor to a company. Assets whitethorn be tangible animal(prenominal) items or intangible items with no physical form. Assets add value to a company, and they are all- consequential(a) to a companys proceed success. The total capital letter shows the investors simply how much greenness stock there is and estimable how much capital is paid. However, it too shows how much the company holds spine in the protected earnings. This is just one of many statements that investors go forth look at when looking into a company whether it is because they need to invest or are shareholders. Information from the income statement shows the users the employment of the company. The gross wage and the expenses are also important because of the profit. Expenses produce the net income or (net loss) for the accounting catch in question. These are important to the investors who are looking at the company but also to managers.

Exercise 7-2: Answer the following questions about the statement of hard money flow and the statement of retained earnings. 1. The current months net exchange provided by operations is $34,936.57 2. The year-to-dates ne t cash provided by operations is $4,717.37 3! . The cash rest at the end of accomplishment for the current month is $32,060.92 4. The beginning retain Earnings balance is $189,037.60 5. The ending Retained Earnings balance is $214,102.64 The statement of cash flows information is important to users because what it shows is where the cash came from, what the cash is used for and the overall changes within the cash for the accounting period in question. Retained Earnings statement is important because it shows the concupiscent lifetime...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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