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following are the amounts of the assets and liabilities of St. Kitts Travel Agency at December 31, 2010, the end of the current year, and its revenue and expenses for the year. The capital stock was $10,000 and retained earnings was $35,000 on January 1, 2010, the beginning of the current year. During the current year, dividends of $7,500 were paid.A) prepare an income statement for the current year ended December 31, 2010.B) Prepare a retained earning statement for the current year ended December 31, 2010.C) Prepare a balance sheet as of december 31, 2010.
What is Acid-test ratio A measurement of the capability of a business to meet its short-term commitments. It is considered by dividing excluding stock, current assets, by curre
what is the implication of applying accounting concepts wrongly
a) A company has 7000 obsolete toys carried in inventory at a manufacturing cost of $6 per unit. If the toys are reworked for $2 per unit, they could be sold for $3 per unit. If th
how do you figure out to do adjustments
Q. Draw neat sketches showing recommended formation width for bank and cutting for concrete sleeper track on B.G. as per latest guidelines of the Railway Board for double line. Sid
Ask questihow to make comparative income statement in good formon #Minimum 100 words accepted#
THE NOTES TO THE ACCOUNTS The notes to the accounts provide additional information on the a/c policies that the company has adopted the make-up of some of the items appearing on
The Deficiency Account Purpose of deficiency account : The purpose of the deficiency account is to explain the deficit shown on the statement of affairs. The deficiency acc
Limited Liability Partnership (LLP) - GENERAL PARTNERSHIP which, via registration with an appropriate state authority, is able to enshroud all its partners in limited liability. Ru
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