Chapter 6 Peachtree

Exercise 7-1: Answer the following questions about the sense of balance sheet of paper and income statement. 1. The entire assets are $499,890.96 2. The total Capital is $319,102.64 3. Indicate the nitty-gritty of the light up income or (net loss) for the month of March. ($3,037.39) 4. The current months gross profit is $64,839.74 5. The current months total expenses are $67,877.13 An asset is an item of value to a company. Assets whitethorn be tangible physical items or intangible items with no physical form. Assets add value to a company, and they are all- consequential(a) to a companys continued success. The total capital letter shows the investors simply how much common stock there is and just how much capital is paid. However, it also shows how much the company holds spine in the retained 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 profits 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 currency 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 cash provided by operations is $4,717.37 3. The cash balance 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 within the cash for the accounting period in question. Retained Earnings statement is important because it shows the hearty lifetime...If you want to get a full essay, order it on our website: Orderessay



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