+1(323)689-1506 support@essayhubmarket.com

Looking for help with an assignment? Connect with an assignment Expert Now!

What is the formula for the income statement?

Last week, you were introduced to the basic concepts of accounting. In Week 2, we are putting in the walls of the building. We will now discuss the elements of the financial statements. By the time you have completed the work for Week 2, you will know:

  • The meaning and principal items covered in the balance sheet;
  • The different types of transactions and their impact on the balance sheet; and
  • The nature of income and the income statement.

TOPIC B – posted Wednesday

1. What is the formula for the income statement? What information is this statement designed to provide?

2. Just like the balance sheet distinguishes current assets from non-current ones, it also reports current and non-current liabilities? What is the difference between these two categories. Why do we distinguish current items from non-current ones?

3. How is the income statement related to the balance sheet?

Great turnout at last night’s meeting! I was so happy to see the “Hollywood Squares” version of our class participants.

In order to complete your project, we needed to discuss the Accounting Cycle.

Your first worksheet in the project workbook is for Journal Entries. This is where you will record the business transactions in the Debit/Credit format we discussed.

Here are a series of journal entries. Prepare a trial balance:

Cash

Common Stock

30,000

30,000

Equipment

Cash

12,000

12,000

Supplies

Accounts Payable

5,000

5,000

Cash

Service Revenue

6,000

6,000

Rent Expense

Cash

4,000

4,000

Rent Expense

Prepaid Rent

9,000

9,000

Supplies Expense

Supplies

2,700

2,700

Cash

Unearned Revenue

18,000

18,000

Unearned Revenue

Revenue

6,000

6,000

Depreciation. Expense

Accumulated Depreciation

5,000

5,000

Totals$ 97,700  $ 97,700

TOPIC A – posted Sunday

Here is one of the most important financial statements, the Balance Sheet. Pay attention to the proper classifications of the elements and key subtotals.

Assets.pngLiabilities+Equity.png

1) How are current assets different from non-current assets? How are current liabilities different from non-current liabilities?  What differentiates  an account receivable vs. an accounts payable?

2) What does the current ratio measure? Is the higher the ratio always the better? Explain.

3) What does solvency mean? What data does the balance provide in order to determine solvency?

4) Cash and cash equivalents are the most liquid assets included on a company’s balance sheet. So what gets counted as cash? What is a cash equivalent?

Get a Quick Quote

Approximately 250 words
Total price (USD) $: 10.99

Reviews from Clients who Ordered From Us:

Kate Hogan

They are my go to assignment helper and have been a great help. Thank you!

Sheena easton

I`ve been working with this website for over a year! Here`s what I liked the most about them. First, quality of writing (creative and with catchy titles).

Our Benefits

Get your essay writing needs completed by us and enjoy these and more benefits:

Fast

Whether you have a last minute discussion post due in a couple of hours or the last day in class and you totally forgot to work on that research paper, we always put everything aside to save your grade

Custom Essay

Our qualified team of experts have access to varied online library databases to help with recent and well researched tools that help in writing your paper to deliver a profound research that earns you a stellar grade

80+ Subjects

We do not turn down any type of work. We have qualified writers holding bachelors, graduate and Doctoral certificates matched with skill and expertise. Get help with homework acroos varied subject

Real Time Tracking

We have a user friendly interface to help you track the progress on your order from your client portal. Additionally, with each and every step, you will get notified on the status of your paper to give you an easy time to do other kinds of stuff

Order Our Custom Essay Writing Service

1. Making an Order Tip and Tricks

  • Choose the type of assignment, topic, subject, length, and deadline for your paper.
  • Indicate the following order parameters: service, chosen writer level, number of cited sources, and citation style.
  • Add your document or provide instructions for paper in a specific form.
Image showing step 1 of making an order
Image showing how to make payment for your order

2. Tips and Tricks for Choosing the Right Writer

  • Log in using your email address or your Facebook account.
  • A list of suitable writers will be offered to you. Before making a selection, you can read testimonials or engage in a Live Chat with authors.
  • Check your balance and, if necessary, add funds to your account. Here you will also find exclusive bargains.
  • Put money into the account of the chosen writer.

3. Tips and Tricks for Supervising the Writing Process

  • Get the chance to keep track of the process and connect with your writer.
  • If required, include updated instructions.
  • Have a conversation with your author.
Image showing how to supervise writing process
Image showing how to download your completed results

4. Tips and Tricks to Enjoy the Results

  • You will receive the paper. You have the option of requesting modifications if they are required. Before giving it back to the writer, make a list of the adjustments that need to be made.
  • Accept the paper and send the money to the author.
  • Rate your writer, submit your request, then sit back and enjoy the results.

How can we even make your school life easier with our services?

We always strive to provide the best techniques and skills that help your essay a stellar paper. We have achieved this through the years by offering features such as:

Progressive Delivery

Your order is assigned to a writer who delivere’s your bulk research projects in small chunks and making edits upon feedback from the professor

Native Writers

Our writers are varied across different coutnries such s Canada, Australia, U.K and the United States. Request a native speaker writer to help you ace that paper

Powerpoint slides & other visuals

Order a visual such as Powerpoint to better expound your research paper at $10 per slide including speaker notes

Top rated writers

Order from among the top 10 rated writers at no extra cost