Assets Liabilities Stockholders Equity Cash BegBal 3100 Accounts Receivable

Assets liabilities stockholders equity cash begbal

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Assets Liabilities Stockholders’ Equity + Cash – BegBal 3,100 + Accounts Receivable – BegBa l 0 + Supplies – BegBa l 900 – Accounts Payable + 0 BegBal – Notes Payable + 15,000 BegBal – Unearned Revenue + 0 BegBal – Common Stock + 10,000 BegBal – Retained Earnings + 0 BegBal – Design Revenue + 0 BegBal + Wage Expense – 3-11
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+ Prepaid Expenses – BegBa l 0 + Property, Plant & Equipment – BegBal 21,000 BegBal 0 + Utilities Expense – BegBal 0 + Telephone Expense – BegBal 0 3-12
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HANDOUT 3 – 3 PREPARING A TRIAL BALANCE Use the ending balances from the T-accounts on Handout 3-2 to prepare a trial balance for World Wide Webster as of December 31, 2014. World Wide Webster Trial Balance At February 28, 2014 Debit Credit 3-13
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HANDOUT 3 – 4 PREPARING A CLASSIFIED INCOME STATEMENT Use the ending balances from the T-accounts on Handout 3-2 to prepare a classified income statement for Tabor Hill as of and for the month ended February 28, 2014. (Ignore income tax expense.) Tabor Hill Designers Income Statement For the Month ended February 28, 2014 3-14
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3-15
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HANDOUT 3 – 5 NET PROFIT MARGIN RATIO Refer to the financial statements from Handout 3-3 and calculate the net profit margin ratio of Tabor Hill Designers for the month ending February 28, 2014. Then, indicate what this ratio measures and how you would interpret the results. Calculation: What it measures and how to interpret: 3-16
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