Ok, so I've been working on this assignment for this week (each course is 5 weeks long, and this is week 4's assignment), and I am having a lot of trouble with this one, and probably next week's too, because I'm just NOT good in math, and the assets and liabilities really confuse me. I just can't seem to wrap my brain around the whole making both columns equal out. Guess I'm not destined for a career in accounting. Anyway, I've been working on the accounting sheet. Here is the actual assignment, so I'm not confusing anyone when I explain what I've already done: Les Fleurs, a boutique in Paris, France, had the following accounts in its accounting records at December 31, 20X2 (amounts in Euros, denoted as "E") Purchases ... E250,000 Freight In E8,000 Sales discounts . 4,000 Purchase returns .. 7,000 Inventory Sales . 400,000 December 31, 20X1 .. 20,000 Purchase discounts . 3,000 December 31, 20X2 .. 30,000 Sales returns . 8,000 Administrative Expenses 20,000 Balance Sheet - December 31, 20X1 Cash 10,000 Inventory 20,000 Owner's Equity 30,000 Compute the following for Les Fleurs during 20X2: (Do not convert the figures to US dollars.) 1. Net sales revenue 2. Cost of goods sold 3. Gross profit 4. Net income 5. Balance sheet, December 31, 20X2 6. Statement of Owner's Equity, December 31, 20X2 Ok, in the left hand column I have for assets (income) purchases, sales discounts (kinda unsure on this one though), Inventory, Freight in, sales, and purchase discounts. I first put the cash in this column, and I also put the owner's equity. For the Liabilities column I put Administrative expenses, purchase returns, and sales returns. So, I'm suppose to do the 6 things at the bottom of the assignment, but I know that if I mess up what goes in each column, I'll get the whole assignment wrong. What I'd like to know is, do I have everything in the right column so far? And if so, I'll check back in with each part as I do it to see if I have it right. I'm doing it in an Excel program, but I am not doing it the right way, cause basically, though I took the school's excel class, they only concentrated on excel for one lousy week, and I just don't remember most of what I learned, and I know I didn't learn nearly enough. I don't have enough hours in the week either to read up on it outside of my coursework. I'm doing another course too, always 2 at a time, and they take up a lot of my time. So, I'm kinda looking for a little guidance I suppose. So I can maybe learn to do the basics? Could someone tell me if I have this much right so far? Thanks!