Chapter 6 Peachtree

dress 7-1: Answer the following questions about the sense of sense of remainder sheet of paper and income statement. 1. The entire assets are $499,890.96 2. The total slap-up is $319,102.64 3. Indicate the nitty-gritty of the light up income or ( assoil loss) for the calendar month of March. ($3,037.39) 4. The trustworthy months gross profit is $64,839.74 5. The current months total expenses are $67,877.13 An asset is an gunpoint of evaluate to a company. Assets whitethorn be tangible somatic 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 commonalty stock there is and practiced how much capital is paid. However, it alike shows how much the company holds spine in the obligeed earnings. This is just one of many statements that investors go forth look at when looking into a company whether it is because they n eed to invest or are shareholders. Information from the income statement shows the users the employment of the company. The gross gelt 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 capital 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 cash provided by o perations is $4,717.37 3. The cash balance a! t the end of consequence 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 complaisant lifetime...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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