Fred klein started his own business recently. he began by depositing

Fred Klein started his own business recently.  He began by depositing $5,000 of his own money (equity) in a business account.  Once he’d done that his balance sheet was as follows:

                                    Assets                          Liabilities and Equity

                        Cash                $5,000             Equity              $5,000

                        Total Assets     $5,000             Total L&E        $5,000

During the next month, his first month of business, he completed the following transactions:  (All payments were made with checks out of the bank account.)

·         Purchased $2,500 worth of inventory, paying $1,500 down and owing the vendor the remainder.

·         Used $500 of the inventory in making product

·         Paid employees’ wages on the last day of the month of $1,100. 

·         Sold all the product made in the first month on credit for $3,000. 

Paid rent of $1,200.

 

a.       Construct a balance sheet for Fred’s business at the end of its first month. 

b.      Construct Fred’s income statement

c.       Construct Fred’s statement of cash flows for the month

d.      Is Fred’s business profitable in an accounting sense? Is a cash flow sense?

e.      Can the business fail while making a profit? How might that happen in the next month or so?

 

Calculate your paper price
Pages (550 words)
Approximate price: -

Why Choose Us

Quality Papers

We value our clients. For this reason, we ensure that each paper is written carefully as per the instructions provided by the client. Our editing team also checks all the papers to ensure that they have been completed as per the expectations.

Professional Academic Writers

Over the years, our Acme Homework has managed to secure the most qualified, reliable and experienced team of writers. The company has also ensured continued training and development of the team members to ensure that it keep up with the rising Academic Trends.

Affordable Prices

Our prices are fairly priced in such a way that ensures affordability. Additionally, you can get a free price quotation by clicking on the "Place Order" button.

On-Time delivery

We pay strict attention on deadlines. For this reason, we ensure that all papers are submitted earlier, even before the deadline indicated by the customer. For this reason, the client can go through the work and review everything.

100% Originality

At Papers Owl, all papers are plagiarism-free as they are written from scratch. We have taken strict measures to ensure that there is no similarity on all papers and that citations are included as per the standards set.

Customer Support 24/7

Our support team is readily available to provide any guidance/help on our platform at any time of the day/night. Feel free to contact us via the Chat window or support email: support@acmehomework.com.

Try it now!

Calculate the price of your order

We'll send you the first draft for approval by at
Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

Papers Owl has stood as the world’s leading custom essay writing services providers. Once you enter all the details in the order form under the place order button, the rest is up to us.

Essays

Essay Writing Services

At Papers Owl, we prioritize on all aspects that bring about a good grade such as impeccable grammar, proper structure, zero-plagiarism and conformance to guidelines. Our experienced team of writers will help you completed your essays and other assignments.

Admissions

Admission and Business Papers

Be assured that you’ll definitely get accepted to the Master’s level program at any university once you enter all the details in the order form. We won’t leave you here; we will also help you secure a good position in your aspired workplace by creating an outstanding resume or portfolio once you place an order.

Editing

Editing and Proofreading

Our skilled editing and writing team will help you restructure you paper, paraphrase, correct grammar and replace plagiarized sections on your paper just on time. The service is geared toward eliminating any mistakes and rather enhancing better quality.

Coursework

Technical papers

We have writers in almost all fields including the most technical fields. You don’t have to worry about the complexity of your paper. Simply enter as much details as possible in the place order section.

error: Content is protected !!