My accountant has given me the following list of account balances for Moes Tires as of December 31, 2003: Acccounts Payable 7,500 Accounts Receivable 10,000 Building 4,000 Cash 2,500 Common Stock 3,000 Cost of...

Les Fleurs, a boutique in Paris, France, had the following accounts in its accounting records at December 31, 20X2 (amounts in Euros, denoted as "E") Purchases………………... E250,000 Freight In……………… E8,000 Sales discounts…………. 4,000 Purchase returns…….. 7,000 Inventory Sales…………………. ...

My assignment includes writing up both a balance sheet and income statement given the trial balance. I've completed most of it, but I'm a bit unsure on a few things... 1) Allowance for Bad Debts. - Am I to consider this a current asset? 2) Patents. - Most likely long-term asset? Also, I'm...

Help please here the question. 1. Study the following financial year accounts of Brakers Ltd and answer the following questions. Items on the income statement on 28 February 1985 Administration and sales expense 50 000 Interest paid 7 500 Gross income 157 500 Income before tax 100 000

I'm starting a company and have prepared a four-year proforma statement of income. Now I need to prepare proforma balance sheets and statements of cash flow. I know that current retained earnings less previous retained earnings from the balance sheet equal current net income from the income...