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Marta communications, inc. has provided incomplete financial statements for the month ended march 31. the controller has asked you to help calculate the missing amounts in the incomplete financial statements. use the information included in the excel simulation and the excel functions described below to complete the task

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Answer:

Figure 1:

Wages expense = $22,200

Figure 2:

Net Income: $2,100

Figure 3:

Retained Earnings = $3,600

Figure 4:

Accounts receivable = $7,100

Figure 5:

Retained earnings = $3,600

Figure 6:

Total assets = $24,400

Figure 7:

Total liabilities and stockholders' equity = $24,400

Explanation:

The workings are attached as follows:

Ver imagen Capricious23

Marta communications, Inc.

The Martha company is a company of communications and provides financial services in the firms of financial statements for the end of each march month ending of 31st. The controller has asked to help in calculation of the missing amounts for the statements.

As per the information provided the answers are wages of $22,200, net income of $2,100, retained earnings of $3,600.

  • As per the given figures the Wages expense equals $22,200, the Net Income is given as $2,100.
  • The retained earnings equal to  $3,600, and the accounts receivable = $7,100, as far as the retained earnings equals $3,600. The total assets are equal to $24,400. Thus the total liabilities and equity is $24,400.

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