Chapter 6 Peachtree

work on 7-1: Answer the following questions about the sense of relief sheet of paper and income statement. 1. The entire assets argon $499,890.96 2. The total gravid is $319,102.64 3. Indicate the nitty-gritty of the light up income or ( unclutter loss) for the month of March. ($3,037.39) 4. The watercourse months gross profit is $64,839.74 5. The current months total expenses are $67,877.13 An asset is an breaker point of repute to a company. Assets whitethorn be tangible corporal items or intangible items with no physical form. Assets add value to a company, and they are all- consequential(a) to a companys proceed success. The total capital letter shows the investors simply how much vulgar stock there is and near how much capital is paid. However, it as well shows how much the company holds spine in the defyed earnings. This is just one of many statements that investors go forth look at when looking into a company whether it is because they need to invest or are shareholders. Information from the income statement shows the users the employment of the company. The gross sugar 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 currentness 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 hard cash provided by operations is $4,717.37 3. The cash quietus at the end of period 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 wit hin the cash for the accounting period in qu! estion. Retained Earnings statement is important because it shows the real lifetime...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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