BUSN1A - Financial Accounting ~ Chapter 2 Homework
(9-9) As Big Horn moves into the next period, how much cash does the business have? The company's cash balance is $___(1)___ How much does Big Horn owe in total liabilities? The company owes $___(2)___
1) 5,440 2) 37,070
(3-3) Requirement 2. How well did the business perform during its first month? Compute net income (or net loss) for the month. (Please use a minus sign or parentheses to enter a loss.) The business performed ______ as shown by the $_______ of ______ for the month of January.
1) well 2) 5,200 3) net income
(3-3) Requirement 2. After completing the analysis, answer these questions about the business. a. How much are total assets? $____ b. How much does the business expect to collect from patients? $_____ c. How much does the business owe in total? $______ d.How much of the business's assets does Smith really own? $_____ e. How much net income or net loss did the business experience during its first month of operations? (Enter the amount as a positive value). The business experienced ______ of $______ during its first month of operations.
a. 183,900 b. 4,500 c. 32,400 d. 151,500 e. net income/ 3,500
(2-4)Let's begin by preparing the memo. To: Home Office From: Laura Sprague, Store Manager During the first week, I used the store's beginning cash to purchase ____________. I signed a __________ to buy land and a building
equipment and supplies note payable