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Accounting Assignment | College Homework Help

Adjusted Trial Balance December 31, 2019 Account Title $ Debit 8,000 24,500 8,888 8, 4ee 55,000 $ 27,500 177,000 59, eee 54,370 16,eee 2,989 3,eee 2,800 1,282 7,880 7,5ee 61,5ee 14,3ee 181 Cash 184 Short-term investments 126 Supplies 128 Prepaid insurance 167 Equipment 168 Accumulated depreciation-Equipment 173 Building 174 Accumulated depreciation-Building 183 Land 201 Accounts payable 203 Interest payable 288 Rent payable 219 Wages payable 213 Property taxes payable 233 Unearned professional fees 244 Current portion of long term note payable 251 Long-term notes payable 301 0. Tybalt, Capital 382 0.College Homework Help
Tybalt, Withdrawals 401 Professional fees earned 496 Rent earned 407 Dividends earned 409 Interest earned 606 Depreciation expense-Building 612 Depreciation expense-Equipment 623 Wages expense 633 Interest expense 637 Insurance expense 648 Rent expense 652 Supplies expe 682 Postage expen 683 Property taxes expense 684 Repains expense 688 Telephone expense 598 Utilities expense Totals tee 1ee, eee 15, See 2, zee 2,988 12,988 8,25e 25,588 7, 2ee le, 788 5,5ee D 8988 19 $444, see TYBALT CONSTRUCTION For Year Ended December 31, 2019 Revenues Total revenues Expenses a expenses TYBALT CONSTRUCTION Statement of Owner’s Equity For Year Ended December 31, 2019 O. Tybalt, Capital. Dec. 31, 2018 0. Tybalt, Capital, Dec. 31. 2019 Use the information in the financial statements to compute the following ratios: (a) Return on assets (total assets at December 31, 2018, was $200,000) Numerator: nominator Return on total assets Return on total assets 0
(b) Debt ratio Numerator: Denominator: Debt ratio Debt ratio (c) Profit margin ratio (use total revenues as the denominator) Numerator:College Homework Help Denominator Profit margin Profit margin (d) Current ratio Numerator: Denominator: Current ratio Ourrent ratio O. Tybalt Invested $8.000 cash in the business during year 2019 (the December 31, 2018, credit balance of the o. Tybalt, Capital account was $126,300). Required: 10. Prepare the income statement for the calendar year 2019. 1b. Prepare the statement of owner’s equity for the calendar year 2019. 1c. Prepare the classified balance sheet at December 31, 2019. 2. Prepare the necessary closing entries at December 31, 2019 3. Use the information in the financial statements to compute the following ratios: Get Accounting Homework Help Today

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