Preparing financial statements from the work sheet, Biology

Assignment Help:

When the work sheet is finished all the essential information to prepare the statement of retained earnings, income statement and balance sheet is readily available. Currently you need only recast the information into the appropriate financial statement format.

The information you require to prepare the income statement is in the work sheet's Income Statement columns in Exhibit 20. The information you require to prepare the statement of retained earnings is taken from the Statement of Retained Earnings columns in the work sheet. To make this statement use the beginning Retained Earnings account balance adds the net income or deduct the net loss and then subtract the Dividends. Hold the ending Retained Earnings balance forward to the balance sheet. Keep in mind that the statement of retained earnings helps to relate income statement information to balance sheet information. It does this by representative how net income on the income statement relates to retained earnings on the balance sheet.

2313_Preparing financial statements from the work sheet.png

The information essential to prepare a balance sheet comes from the Balance Sheet columns of Micro Train's work sheet. As stated previous the correct amount for the ending retained earnings appears on the statement of retained earnings.


Related Discussions:- Preparing financial statements from the work sheet

Eyeball - choroid, CHOROI D - Thin, net like made up of connective ...

CHOROI D - Thin, net like made up of connective tissue, rich in blood vessels. Pigment present, red in rabbit, brown or black in man. It reduces internal reflection.

Explain the nutritional care process, Explain The nutritional care process ...

Explain The nutritional care process The nutritional care process is a systematic and  logical approach to ensure effective and  successful nutrition and intervention. The Ame

Bacteria anerobic respiration, how does the bacteria clostrium tetani respi...

how does the bacteria clostrium tetani respire anerobically

Explain the adverse effects of menactra, Adverse effects of menactra The...

Adverse effects of menactra The most common adverse reactions to Menactra include headache, fatigue and malaise, in addition to pain, redness and induration at the site of injec

Explain about the lactation process, Explain about the Lactation Process? ...

Explain about the Lactation Process? Lactation is a physiologic process which has profound relevance for both the mother and the newborn. It is the period following pregnancy w

What was the oral status of the patient, What was the Oral Status of the Pa...

What was the Oral Status of the Patient It is imperative that the patient carry out a strict oral hygiene regimen as dental plaque is one of the main factors that leads to impl

Advice on dischargeperi operative problems, Advice on Discharge :  Patient...

Advice on Discharge :  Patients are allowed to go home on 8th or 9th day. It could be even earlier after off pump coronary artery surgery (OPCAB). They should gradually increase t

Explain the types of cell reproduction, Explain the Types of cell Reproduct...

Explain the Types of cell Reproduction ? One of the major characteristics of living organisms is their ability to grow and reproduce. This is accomplished by cell division. In

Explain phylum-bacteria, Phylum-Bacteria (Eubacteria) Eubacteria,th e t...

Phylum-Bacteria (Eubacteria) Eubacteria,th e true bacteria, are extremely small and they exist in vast numbers virtually everywhere on earth. They range from the upper atmosphe

Anomalies related to oral cavity, Anomalies Related to Oral Cavity: Un...

Anomalies Related to Oral Cavity: Under these anomalies we will briefly discuss the cleft lip and cleft palate.  You must have seen and/or nursed a baby born with a cut on

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