Ask Experts Questions for FREE Help !
Ask
    vipstatus's Avatar
    vipstatus Posts: 3, Reputation: 1
    New Member
    		  
    #1

    Mar 25, 2008, 08:42 PM
    Solution
    I can not figure out the answer to problem 4-5a and 4-6aon pg 165 and 166 of the Fundamental Accounting Principles 17th ed. Textbook by Larson, Wild , and Chiappetta (2005).. Please Help:(
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
    		  
    #2

    Mar 25, 2008, 11:10 PM
    What are the questions?
    vipstatus's Avatar
    vipstatus Posts: 3, Reputation: 1
    New Member
    		  
    #3

    Mar 26, 2008, 04:36 PM
    Required
    1. Prepare the income statement and the statement of owner's equity for the calendar-year 2005, and
    The classified balance sheet at December 31, 2005.
    2. Prepare the necessary closing entries at December 31, 2005.
    3. Use the information in the financial statements to compute these ratios: (a) return on assets (total
    Assets at December 31, 2004, was $200,000), (b) debt ratio, (c) profit margin ratio (use total revenues
    As the denominator), and (d) current ratio.
    Chapter 4 Completing the Accounting Cycle 165
    Check (1) Total assets (12/31/2005),
    $178,100; Net income, $13,100
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

What is the best solution for Ed? [ 2 Answers ]

How does Vevitra compare with Levitra?

What is a solution [ 3 Answers ]

My husband spends his time and money on friends only drinking. He is out from morning and returns home at night. If I ask him why he spends time with his friends he gets angry and states that --He should not stick all the time to his wife. He does not have any responsibilities even towards his...

Finance solution [ 2 Answers ]

How does double taxation of corporate income occur?

Homework solution [ 2 Answers ]

What are some important aspects of cash flow management? What is more important to a company, cash or profits? Describe strategies that companies may use to improve their cash management.

View more questions Search