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  • Accounting Cycle Activities

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    Miles Heman-Ackah
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    Income statements evaluate profit or loss over time, whereas balance sheets indicate a company's financial situation at a given point in time. The buyer wants to purchase the landscaping company for $600,000 using its income statements showing good profits. Both Apple and Google have large assets and some liabilities reported on their balance sheets, but generate very good net income according to their income statements. Google has substantial assets including buildings, warehouses, and pays rent, utilities and workers, according to its balance sheet.

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    Income statements evaluate profit or loss over time, whereas balance sheets indicate a company's financial situation at a given point in time. The buyer wants to purchase the landscaping company for $600,000 using its income statements showing good profits. Both Apple and Google have large assets and some liabilities reported on their balance sheets, but generate very good net income according to their income statements. Google has substantial assets including buildings, warehouses, and pays rent, utilities and workers, according to its balance sheet.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Download as docx, pdf, or txt
    8 views1 page

    Accounting Cycle Activities

    Uploaded by

    Miles Heman-Ackah
    Income statements evaluate profit or loss over time, whereas balance sheets indicate a company's financial situation at a given point in time. The buyer wants to purchase the landscaping company for $600,000 using its income statements showing good profits. Both Apple and Google have large assets and some liabilities reported on their balance sheets, but generate very good net income according to their income statements. Google has substantial assets including buildings, warehouses, and pays rent, utilities and workers, according to its balance sheet.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 1

    Income statements and balance sheets are similar because they both correlate to one another and An

    income statement evaluates a company's profit or loss over time, whereas a balance sheet indicates the
    company's financial situation at a given point in time.

    Hi, I would like to buy your landscaping company for $600,000 we would use your company to
    incorporate our latest inventions into homes shelters & business alike. We think your company has good
    profits based on your income statements and would be very profitable to us.

    The things I have found interesting about apple and google, is that they both have a lot of statements
    with extreme amounts of assets and some liabilities but for the most part they have a very good net
    income.

    Google has a lot of things they pay for mainly, buildings warehouses and the rent they pay for the
    buildings, such as electricity, water, gas & etc. they also pay a mass amount of workers. They have a lot
    of assets

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