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