a. Prepare an income statement and statement of retained earnings for the year ended December 31, current year. Also prepare the company's balance sheet dated December 31, current year. (Hint: Unprofitable companies have no income taxes expense.) b. Does the company appear to be liquid? Defend your answer. Has the company been profitable in the past? Explain. C.

Exercise 4.3a "Gunflint Adventures operates an airplane service that takes fishing parties to a remote lake resort in northern Manitoba, Canada. Individuals must purchase their tickets at least one month in advance during the busy summer season. The company adjusts its accounts only once each month. Selected balances appearing in the company's June 30 adjusted trial balance appear as follows"

6.2 Shown as follows are selected transactions of Konshock's, a retail store that uses a perpetual inven- tory system. a. Purchased merchandise on account. b. Recognized the revenue from a sale of merchandise on account. (Ignore the related cost of goods sold.) c. Recognized the cost of goods sold relating to the sale in transaction b. d. Collected in cash the account receivable from the customer in transaction b. e. Following the taking of a physical inventory at year-end, made an adjusting entry to record a normal amount of inventory shrinkage. Indicate the effects of each of these transactions on the elements of the company's financial state- ments shown. Organize your answer in tabular form, using the column headings given. (Notice that the cost of goods sold is shown separately from all other expenses.) Use the code letters I for increase, D for decrease, and NE for no effect.

6.3 PC Connection is a leading mail-order retailer of personal computers. A recent financial report issued by the company revealed the following information.

This exercise stresses the relationships between the information recorded in a periodic inventory system and the basic elements of an income statement. Each of the five lines represents a separate set of information. You are to fill in the missing amounts. A net loss in the right-hand column is to be indicated by placing brackets around the amount, for example as in line e <15,000>.

6.10 Golf World sold merchandise to Mulligans for $10,000, offering terms of 1/15, n/30. Mulligans paid for the merchandise within the discount period. Both companies use perpetual inventory systems. a. Prepare journal entries in the accounting records of Golf World to account for this sale and the sub- sequent collection. Assume the original cost of the merchandise to Golf World had been $6,500. Prepare journal entries in the accounting records of Mulligans to account for the purchase and subsequent payment. Mulligans records purchases of merchandise at net cost. b. c. Assume that, because of a change in personnel, Mulligans failed to pay for this merchandise within the discount period. Prepare the journal entry in the accounting records of Mulligans to record payment after the discount period.

2. project? Run a scenario analysis for the above problem using the following scenarios. (Assume the answers from question 1 represent the base scenario)

Question 1 (based on Week 1 Excel Examples - Chapters 1-4) You are considering purchasing a car in 4 years, anticipating a purchase price of $40,000. (Note: This question doesn't require a written answer, but you need to clearly indicate your answers to parts a, b, and c.) a. How much do you need to deposit in an account today, if you want to have $40,000 in the account in 4 years, assuming the account earns 5% annual interest rate? (assume annual compounding) b. If you deposit $30,000 in the account today, what rate of interest would you need to earn annually in order to have exactly $40,000 in the account in 4 years? (assume annual compounding) c. If your account earns 0.25% of interest every month, and if you make an initial deposit of $10,000 today, how much do you need to deposit every month in your account in order to have exactly $40,000 in 4 years? (assume monthly compounding)

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended June 30, 2021 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From

Question.2 You have purchase $10000 inventory from XYZ ltd, on this purchase you have paid 18% GST and 10% TDS. Pass the General Entry.