he following information relates to Sunland Company for the year 2022. Retained earnings, January 1, 2022...
he following information relates to Sunland Company for the year 2022.
|
Retained earnings, January 1, 2022 |
$46,080 |
Advertising expense |
$1,730 | |||
|---|---|---|---|---|---|---|
|
Dividends during 2022 |
4,800 |
Rent expense |
9,980 | |||
|
Service revenue |
60,000 |
Utilities expense |
2,980 | |||
|
Salaries and wages expense |
26,880 |
Other comprehensive income (net of tax) |
380 |
After analyzing the data, compute net income.
| Net income / (loss) | $enter net income or loss amount |
Prepare a comprehensive income statement for the year ending December 31, 2022.
|
Sunland Company Comprehensive Income Statement choose the accounting period For the Month Ended December 31, 2022December 31, 2022For the Year Ended December 31, 2022 |
||
|---|---|---|
|
select a comprehensive income item DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, January 31SalesTotal ExpensesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss) |
$enter a dollar amount | |
|
select an opening section name DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, January 31SalesTotal ExpensesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss) |
enter a dollar amount | |
|
select a closing name for this statement DividendsExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, January 31SalesTotal ExpensesTotal RevenuesNet SalesGross ProfitOperating ExpensesTotal Operating ExpensesIncome Before Income TaxesOther Comprehensive Income / (Loss)Comprehensive Income / (Loss) |
$enter a total amount for this statement | |
Homework Answers
Calculate net income
| Service revenue | 60000 |
| Salaries and wages expense | -26880 |
| Advertising expense | -1730 |
| Rent expense | -9980 |
| Utilities expense | -2980 |
| Net income | 18430 |
Comprehensive income
| Net income | 18430 |
| Add: Other comprehensive income | 380 |
| Comprehensive income | 18810 |
Add Answer to:
he following information relates to Sunland Company for the year
2022.
Retained earnings, January 1, 2022...
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Suppose in its income statement for the year ended June 30, 2022, The Clorox Company reported...
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On June 1, 2022, Sunland Company was started with an initial investment in the company of...
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The items for the medical practice of Wildhorse, MD, are listed below. Retained earnings (October 1)...
The items for the medical practice of Wildhorse, MD, are listed
below.
Retained earnings (October 1)
$13,100
Common stock
33,000
Accounts payable
5,200
Equipment
33,000
Service revenue
29,000
Dividends
6,700
Insurance expense
4,400
Cash
10,200
Utilities expense
700
Supplies
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Prepare an income statement for the month of October,
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For
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Cullumber Corp. invested its excess cash in securities during 2020. As of December 31, 2020, the...
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Cash + Accounts Receivable + Supplies + Equipment Accounts Payable Common Stock Retained Earnings = +...
Cash
+
Accounts
Receivable
+
Supplies
+
Equipment
Accounts
Payable
Common
Stock
Retained
Earnings
=
+
+
Revenues
–
Expenses
–
Dividend
1.
$14,600
$14,600
2.
–1,800
$4,300
$2,500
3.
–750
$750
4.
5,100
$3,500
$8,600
Service Revenue
5.
–1,000
–1,000
6.
–1,900
-$1,900
7.
–700
–$700
Rent Expense
8.
350
–350
9.
–4,000
–4,000
Salaries/Wages Expense
10.
550
–550
Utilities Expense
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This information relates to Sheridan Company for the year 2022. Retained earnings, January 1, 2022 $76,300...
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The items for the medical practice of Wildhorse, MD, are listed
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Retained earnings (October 1)
$13,100
Common stock
33,000
Accounts payable
5,200
Equipment
33,000
Service revenue
29,000
Dividends
6,700
Insurance expense
4,400
Cash
10,200
Utilities expense
700
Supplies
2,600
Salaries and wages expense
9,900
Accounts receivable
10,300
Rent expense
2,500
Prepare an income statement for the month of October,
2022.
WILDHORSE, MD
Income Statement
For
the Month Ended October 31, 2022For the Year Ended October 31,
2022At October 31,...
Cash
+
Accounts
Receivable
+
Supplies
+
Equipment
Accounts
Payable
Common
Stock
Retained
Earnings
=
+
+
Revenues
–
Expenses
–
Dividend
1.
$14,600
$14,600
2.
–1,800
$4,300
$2,500
3.
–750
$750
4.
5,100
$3,500
$8,600
Service Revenue
5.
–1,000
–1,000
6.
–1,900
-$1,900
7.
–700
–$700
Rent Expense
8.
350
–350
9.
–4,000
–4,000
Salaries/Wages Expense
10.
550
–550
Utilities Expense
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