Maurice Tutor

(5)

$15/per page/Negotiable

About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 1 Day Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 10 Sep 2017 My Price 10.00

types of businesses

 3-1   Comparing a merchandising company with a service company

The following information is available for two different types of businesses for the 2012 account- ing period. Eady CPAs is a service business that provides accounting services to small businesses. Campus Clothing is a merchandising business that sells sports clothing to college students.

Data for Eady CPAs

1.      Borrowed $40,000 from the bank to start the business.

2.      Provided $30,000 of services to customers and collected $30,000 cash.

3.      Paid salary expense of $20,000.

Data for Campus Clothing

1.      Borrowed $40,000 from the bank to start the business.

2.      Purchased $25,000 inventory for cash.

3.      Inventory costing $16,400 was sold for $30,000 cash.

4.      Paid $3,600 cash for operating expenses.

Required

a.      Prepare an income statement, a balance sheet, and a statement of cash flows for each of the companies.

b.     Which of the two businesses would have product costs? Why?

c.      Why does Eady CPAs not compute gross margin on its income statement?

d.     Compare the assets of both companies. What assets do they have in common? What assets are different? Why?

Answers

Maurice Tutor
(5)
Status NEW Posted 10 Sep 2017 09:09 PM My Price 10.00

Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------and----------- ac-----------qui-----------sit-----------ion----------- of----------- my----------- po-----------ste-----------d s-----------olu-----------tio-----------n.P-----------lea-----------se -----------pin-----------g m-----------e o-----------n c-----------hat----------- I -----------am -----------onl-----------ine----------- or----------- in-----------box----------- me----------- a -----------mes-----------sag-----------e I----------- wi-----------ll

Not Rated(0)
Relevent Questions