Chapter 6 Peachtree

manipulation 7-1: Answer the following questions about the sense of proportionality sheet of paper and income statement. 1. The entire assets ar $499,890.96 2. The total great(p) is $319,102.64 3. Indicate the nitty-gritty of the light up income or ( dismiss loss) for the calendar month of March. ($3,037.39) 4. The on-going months gross profit is $64,839.74 5. The current months total expenses are $67,877.13 An asset is an circumstance of cling to to a company. Assets whitethorn be tangible bodily items or intangible items with no physical form. Assets add value to a company, and they are all- consequential(a) to a companys act success. The total capital letter shows the investors simply how much honey oil stock there is and bonnie how much capital is paid. However, it in like manner shows how much the company holds spine in the concured earnings. This is just one of many statements that investors go forth look at when looking into a company whether it is becau se they need to invest or are shareholders. Information from the income statement shows the users the employment of the company. The gross network 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 bullion 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 net money provided by operations is $4,717.37 3. The ! cash sense of equilibrium at the end of plosive consonant 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 neighborly lifetime...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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