Accounts relate to keenal real estate, Financial Accounting

Assignment Help:

Prepare a financial statement from alphabetic listing of accounts:
A number of accounts balances are listed below these accounts relate to Keenal Real Estate. During the year just ended. Keenel invested additional of 7500 in the business
Accounts payable                                12250
Accounts Receiveable                          21900
Advertising expense                           10500
Building                                            45000
Cash                                                 3620
Entertainment Expense                      16400
Equipment                                       21700
Interest Expense                              3700
Land                                              12000
Misc Expance                                    2460
Mortgage Payable                            39500
Notes Payable                                  21300
Office supplies on hand                     1720
Real Estate commission earned        143750
Salalries payable                              1730
Travel Expense                              15900
Withdrawls                                     14860
keenan Capital Dec 31 1995             xxxxx
Keenan Capital Jan 1 1995              11050

Required:
Prepare the three principal financial statements from the data of the year ended Dec 31, 1995.

(Total Assets will be = 105940)


Related Discussions:- Accounts relate to keenal real estate

business strategy-vertical horizontal or conglomerate , What was the busin...

What was the business strategy underlying the merger? How was the acquisition financed? Was it a vertical, horizontal or conglomerate merger?   The strategy behind those merge

Compute the npv of the cash flows, Ace Company has a 30 percent marginal ta...

Ace Company has a 30 percent marginal tax rate and uses a 12% discount rate to compute NPV. The firm started a venture that will yield the following before-tax cash flows: year 0,

Discuss the pros and cons of financing in unhedged, You have the following ...

You have the following information about rates in London for Eurocurrency loans of one-year duration, the exchange rate between the USD and euros, the currency in which you want fi

ACCRUED INTEREST, IF I HAVE A LOAN AND ACCRUED INTEREST .THEN ACCRUED INTER...

IF I HAVE A LOAN AND ACCRUED INTEREST .THEN ACCRUED INTEREST GOES ON WHICH SIDE- DEBIT OR CREDIT ?

Calculate the initial selling price of the product, Question: (a) The f...

Question: (a) The following output levels and production costs have been recorded over the last three periods: Required: Using the high-low method, estimate the: (i

Basis of npv and irr, Suppose that Oxford Inc. is interested in the two new...

Suppose that Oxford Inc. is interested in the two new products, AME and CGK. Because of its capital budget constraint, it can only launch one new product line. Eric just graduated

#title.student., t account for equipment beg, bal 80,000 disposal 22...

t account for equipment beg, bal 80,000 disposal 22,000 acquisition-41,000 end bal. 99,600 acct. depreciation equip. disposa; 8,500 beg, bal 41,500

WorldCom Case Study1, When well conceived and executed properly, a growth-t...

When well conceived and executed properly, a growth-through-acquisition strategy is an accepted method to grow a business. What went wrong at WorldCom? Is there a need to put in pl

Prepare a statement of financial position, SE CTION A QUESTION 1: ...

SE CTION A QUESTION 1: Below is a trial balance of a manufacturer of boots for the local market. Trial balance as at 31st December 2012 Dr Rs

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd