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...
Here are comparative statement data for Duke Company and Lord Company, two competitors. All balance sheet...
Here are comparative statement data for Duke Company and Lord Company, two competitors. All balance sheet data are as of December 31, 2022, and December 31, 2021. Duke Company Lord Company 2022 2021 2022 2021 Net sales $1,849,000 $546,000 Cost of goods sold 1,063,200 289,000 Operating expenses 240,000 82,000 Interest expense 6,800 3,600 Income tax expense 62,000 28,000 Current assets 325,980 $312,410 83,336 $ 79,467 Plant assets (net) 526,800 500,000 139,729 125,812 Current liabilities 66,325 75,815 35,348 30,281 Long-term liabilities...
Suppose in its income statement for the year ended June 30, 2022, The Clorox Company reported...
Suppose in its income statement for the year ended June 30, 2022, The Clorox Company reported the following condensed data (dollars in millions). Salaries and wages expenses $ 449 Research and development expense $ 109 Depreciation expense 90 Income tax expense 275 Sales revenue 5,619 Loss on disposal of plant assets 46 Interest expense 156 Cost of goods sold 3,060 Advertising expense 489 Rent expense 102 Sales returns and allowances 266 Utilities expense 57 Assume the marketing department has presented...
Cullumber Department Store is located in midtown Metropolis. During the past several years, net income has...
Cullumber Department Store is located in midtown Metropolis. During the past several years, net income has been declining because suburban shopping centers have been attracting business away from city areas. At the end of the company’s fiscal year on November 30, 2022, these accounts appeared in its adjusted trial balance. Accounts Payable $ 75,800 Accounts Receivable 49,400 Accumulated Depreciation—Equipment 197,200 Cash 23,200 Common Stock 101,500 Cost of Goods Sold 1,768,470 Freight-Out 18,780 Equipment 460,970 Depreciation Expense 40,300 Dividends 34,800 Gain...
On June 1, 2022, Sunland Company was started with an initial investment in the company of...
On June 1, 2022, Sunland Company was started with an initial investment in the company of $24,750 cash. Here are the assets, liabilities, and common stock of the company at June 30, 2022, and the revenues and expenses for the month of June, its first month of operations: Cash $ 5,250 Notes payable $13,300 Accounts receivable 4,380 Accounts payable 880 Service revenue 8,100 Supplies expense 945 Supplies 2,373 Maintenance and repairs expense 680 Advertising expense 400 Utilities expense 220 Equipment...
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
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,...
Here are comparative statement data for Ivanhoe Company and Pharoah Company, two competitors. All balance sheet...
Here are comparative statement data for Ivanhoe Company and Pharoah Company, two competitors. All balance sheet data are as of December 31, 2017, and December 31, 2016. Ivanhoe Company Pharoah Company 2017 2016 2017 2016 Net sales $ 1,913,000 $ 603,000 Cost of goods sold 1,081,000 289,000 Operating expenses 264,000 89,000 Interest expense 7,600 1,900 Income tax expense 65,600 31,000 Current assets 726,924 $ 696,674 185,839 $ 177,211 Plant assets (net) 1,174,764 1,115,000 311,593 280,561 Current liabilities 147,905 169,067 78,826...
Cullumber Corp. invested its excess cash in securities during 2020. As of December 31, 2020, the...
Cullumber Corp. invested its excess cash in securities during 2020. As of December 31, 2020, the securities portfolio consisted of the following common stocks. Security Quantity Cost Fair Value Lindsay Jones, Inc. 1,000 shares $15,100 $21,100 Poley Corp. 2,000 shares 39,700 41,700 Arnold Aircraft 2,000 shares 71,300 59,500 Totals $126,100 $122,300 What should be reported on Cullumber’s December 31, 2020, balance sheet relative to these securities? What should be reported on Cullumber’s 2020 income statement? (If no entry is required,...
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
(a)
Prepare an income statement for August.
Sheridan
Company
Income Statement
Choose the accounting period
August 31, 2019For...
The following information relates to Skysong, Inc. for the year 2022. Retained earnings, January 1, 2022...
The following information relates to Skysong, Inc. for the year 2022. Retained earnings, January 1, 2022 $39,360 Advertising expense $1,480 Dividends during 2022 4,100 Rent expense 8,530 Service revenue 51,250 Utilities expense 2,540 Salaries and wages expense 22,960 Other comprehensive income (net of tax) 330 After analyzing the data, compute net income. Prepare a comprehensive income statement for the year ending December 31, 2022.
This information relates to Sheridan Company for the year 2022. Retained earnings, January 1, 2022 $76,300...
This information relates to Sheridan Company for the year 2022. Retained earnings, January 1, 2022 $76,300 Advertising expense 2,050 Dividends 6,840 Rent expense 11,800 Service revenue 66,120 Utilities expense 2,800 Salaries and wages expense 34,200 Prepare an income statement for the year ending December 31, 2022 SHERIDAN COMPANY Income Statement For the Year Ended December 31, 2022 Retained Earnings, January 1 SHERIDAN COMPANY Income Statement For the Year Ended December 31, 2022 Retained Earnings January 1 Sales Revenge U mber...
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
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
(a)
Prepare an income statement for August.
Sheridan
Company
Income Statement
Choose the accounting period
August 31, 2019For...
This information relates to Sheridan Company for the year 2022. Retained earnings, January 1, 2022 $76,300 Advertising expense 2,050 Dividends 6,840 Rent expense 11,800 Service revenue 66,120 Utilities expense 2,800 Salaries and wages expense 34,200 Prepare an income statement for the year ending December 31, 2022 SHERIDAN COMPANY Income Statement For the Year Ended December 31, 2022 Retained Earnings, January 1 SHERIDAN COMPANY Income Statement For the Year Ended December 31, 2022 Retained Earnings January 1 Sales Revenge U mber...
Most questions answered within 3 hours.
-
After watching the lectures I am still having a hard time
understanding these equations.
1. The...
asked 32 minutes ago -
Testing:
H0:μ=56.9
H1:μ<56.9
Your sample consists of 23 subjects, with a mean of 56.3 and
standard...
asked 36 minutes ago -
straight wire, labeled as Wire A, lies horizontally on a
tabletop and is oriented to run...
asked 37 minutes ago -
For a Chi-Squared Goodness of Fit Test about a uniform
distribution, complete the table.
Round to...
asked 1 hour ago -
Milk of magnesia is only slightly soluble in water. Kc for the
reaction Mg(OHs)(s)>Mg2+(a) + 2OH-1(aq)...
asked 59 minutes ago -
Excel's HYPGEOM.DIST function can be used to compute _____.
a. both hypergeometric probabilities and cumulative
hypergeometric...
asked 1 hour ago -
The rocket used for the human lunar missions was the Saturn V
rocket. At liftoff the...
asked 1 hour ago -
1. The East Street Bagel Shop has a weekly demand for 3,500
bagels, which they make...
asked 1 hour ago -
paraphrasing each paragraph
“Where two or more persons knowingly act together unlawfully,
the act of each...
asked 1 hour ago -
The lateral line system in fish is contained which of the
following?
chemoreceptors
photoreceptors
mechanoreceptors
odor...
asked 1 hour ago -
Find the y-intercept of y =-5 x. The y-intercept of y equals
negative 5 x is______...
asked 1 hour ago -
Customers arrive randomly at a gas station at the average rate
of 30 per hour, while...
asked 1 hour ago