Please solve all....I'm requesting you please solve all Instruction: From the following data, prepare a single-step Income Statement for Arce Repair Shop for thequarter ended June 30, 2019.Repair IncomeInterest IncomeSupplies ExpenseTaxes and LicensesRent ExpenseSalaries and WagesUtilities ExpenseDelivery ExpenseP20,0005003,0008002,000,4,000600500Instruction: Prepare a Balance Sheet in an account fom for Bhel's Beauty Parlor for the Year EndedDecember 31, 2019.Cash on HandPrepaid RentSalary PayableFurniture and Fixtures12,00075090038,40060027,00030,000Allowance for Bad DebtsAccounts PayableBhel, CapitalPrepaid InsuranceAccumulated DepreciationBhel, DrawingUnused Office SuppliesAccounts ReceivableNet Income4503,8401,2001,50060,30052,260Instruction: Prepare the Income Statement and the Balance Sheet for Castro Allied Services for the quarterended December 31, 2019.Castro, CapitalCash on HandAccounts ReceivableEquipmentAccumulated DepreciationTaxes and LicensesUtilities ExpensesCastro, DrawingAccounts PayableService IncomeP 43,9003,0006,50030,0007502,0001,8003,6007,20030,00012,0006,000500750Rent ExpenseNotes ReceivableAllowance for Doubtful AccountDepreciation ExpenseBad Debts ExpenseRepair ExpenseSalaries ExpenseSupplies ExpenseNotes Payable20060015,0002,9002,000

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Answered: Instruction: From the following data,…

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter7: Financial Statements For A Proprietorship

Section7.1: Preparing An Income Statement

Problem 1WT

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Following is the adjusted trial balance data for Garage Parts Unlimited as of December 31, 2019. A. Use the data provided to compute net sales for 2019. B. Compute the gross margin or 2019. C. Compute the gross profit margin ratio (rounded to nearest hundredth) D. Prepare a simple income statement for the year ended December 31, 2019. E. Prepare a multi-step income statement for the year ended December 31, 2019.
The following select account data is taken from the records of Reese Industries for 2019. A. Use the data provided to compute net sales for 2019. B. Prepare a simple income statement for the year ended December 31, 2019. C. Compute the gross margin for 2019. D. Prepare a multi-step income statement for the year ended December 31, 2019.
Please solve this question Financial data for Safety Hire as of 30 June 2019 are: Data Prepare an income statement for the month of June and a balance sheet in account format for Safety Hire as at 30 June 2019. Data available in the image thnkx
Question Completion Status: The following select account data is taken from the records of Reese Industries for 2019. Sales Merchandise inventory sales discounts interest expense Sales return and allowances Interest revenue Cost of goods sold Rent expense Depreciation expense: office equipment Insurance expense Advertising expense Accounts receivable Office supplies expense rent revenue sales salaries expense accounts payable common stock Marketing expense 640,363 582,620 58,040 3,677 90,232 10,232 224,598 15,080 3,200 2,450 12,906 100,440 1,600 23,622 30,410 135,404 59,419 31,000 1. Use the data provided to compute net sales for 2019. 2. Prepare a simple income statement for the year ended December 31, 2019. 3.Compute the gross margin for 2019. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac).
The accountant wishes you to provide an analysis of the company’s annual operating expenses. Add an extra worksheet called “Expense analysis”, and add your 20Y3 data next to the given 20Y2 data. You must link this new Expense Analysis table/worksheet (relevant cells in column “E”) with the respective data from your 20Y3 income statement. Do not hard code the 20Y3 data. Use appropriate formula to calculate the total expenses in cell E10, E12 and percentages in column F and G.
Required: Prepare an income statement for the month of June and a balance sheet in account format for Safety Hire as at 30 June 2019. (10 marks)
Instruction: You are given the Trial Balance of Quick Service Company. You are asked to review its preparation and prepare a corrected one. Below are some of the data your discovered and gathered: QUICK SERVICE COMPANY Trial Balance December 31, 2019 Account Title Debit Credit Cash on Hand Accounts Receivable Supplies Inventory Prepaid Rent Furniture and Fixtures Delivery Equipment Accounts Payable Roces, Capital Roces, Drawing Service Income 25,000 10,000 1,000 2,000 8,000 18,000 18,000 38,000 1,000 24,000 Salary Expense Commission Expense Taxes and Licenses 5,000 1,000 1,000 86,000 Total P 80,000 Adjustment Data: 1. An amount of P10,000 of the Account Receivable were posted to the cash account. 2. A debit of P2,000 to delivery equipment was posted to furniture and fixtures. 3. A credit of P8,000 to Service Income was posted twice. 4. To debit column was wrongly footed. P.
Balance sheet Optimum Weight Loss Co. offers personal weight reduction consultingservices to individuals. After all the accounts have been closed on November 30, 2019, the end of the fiscal year, the balances of selectedaccounts from the ledger of Optimum Weight Loss Co. are as follows: Prepare a classified balance sheet that includes the correct balance forCash
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Instruction: From the following data, prepare a single-step Income Statement for Arce Repair Shop for the quarter ended June 30, 2019. Repair Income Interest Income Supplies Expense Taxes and Licenses P 20,000 500 3,000 800 2,000, 4,000 Rent Expense Salaries and Wages