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Income Statement= (Sales Revenue)-(Expenses)-(Taxes)

Statement of Owners Equity= (Capital Stock)+(Additional Paid in Capital)+(Retained Earnings)-(Treasury Stock)

If you post the example we can help you.

Quick Ratio= (Current Assets-Inventories)/Current Liabilities

No, the answer is addition of 9 dollars to the bank balance. Bank reconciliation allows people to compare their account records to the bank's records. This allows them to find any possible errors. ...

I'm assuming they issued common stock for cash.

Cash 10,000 (Debit)
Common Stock 10,000 (Credit)

Yes, you have the journal entries correct. Nice work.

Land held by a real estate includes land and anything else that is not removeable such as buildings, sheds, houses, etc... So Land as noncurrent is just the physical land minus the buildings and such.

The equation for ROA=Net Income/Total Assets. So if you write off 25% of your assets this will cause your Total Assets to decrease and cause your ROA to increase.

1. On the Balance Sheet it looks like this:
Accounts Receivable
Less: Allowance for Doubtful Accounts
Net Accounts Receivable

2. When you write off money the journal entry is:...

Yes, the answer is $8,000. You are recording $4,000 For Thursday, April 1st, and $4,000 for Friday April 2nd.

I was wondering if someone could help me with this cash flows example we have to try before our next class.

2000 2001
Assets...