History and Origins of Terrorism, law homework helpFebruary 15, 2021
Paper presentationFebruary 15, 2021
Complete a set of financial statements based on the transactions and general ledger from the Phase 4 IP. The financials to be completed on an Excel spreadsheet are the following:
- Income statement
- Statement of owners’ equity
- Balance sheet
Click here for the Financial Statement Template.
Based on the financial statements, prepare a memo to the President of LMO Company as to the financial performance of your company. Include the following:
- 3 strategies that the company can employ to improve its performance and increase net income
- Explanation of who might use the financial statements
- Be sure to include internal and external users.
BELOW ARE THE TRANSACTIONS AND LEDGERS FROM PHASE 4. I have also attached a spreadsheet of unit 4 assignment for your use.
- Invested $50,000 in the business
- Paid $100 for phone service
- Purchased $35,000 equipment on credit
- Paid $3,000 for 3 months rent
- Paid $5,500 for 6 months of insurance
- Paid $1,000 for advertising on credit (Note: This is an expense to the company)
- Customer purchased $2,000 on account
- Customer in #7 paid $1,000 on account
- Paid for #6 advertising
- Sold to customer and received $5,000 cash