Homework Answers
| CALCULATION OF NET INCOME OF THE YEAR | |||
| Ending retained Earnings = Beginning Retained Earnings + Net Income of the year - Dividends | |||
| Net Income = Ending Retained Earnings - Beginning Retained Earnings + Dividends | |||
| Net Income = $ 10,000 - $ 7,000 + $ 3,000 | |||
| Net Income = $ 6,000 | |||
| SOLUTION: | |||
| Common Stock | Retained Earnings | Ttoal Stockholders' Equity | |
| Beginning Balance | $ 10,000 | $ 7,000 | $ 17,000 |
| Issuances | $ 1,100 | $ - | $ 1,100 |
| add: Net Income | $ 6,000 | $ 6,000 | |
| Less: Dividends | $ -3,000 | $ -3,000 | |
| Ending Balance | $ 11,100 | $ 10,000 | $ 21,100 |
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Statement of Stockholders' Equity Total Common Retained Stockholders' Stock Earnings Equity Beginning balance $ 10,000 $...
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calculate the missing amounts 39,000 BULLDOG, INC. Income Statement Revenues Expenses: Salaries Advertising Utilities Net income...
calculate the missing amounts
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Below are incomplete financial statements for Bulldog, Inc. Required: Calculate the missing amounts. 39,000 BULLDOG, INC....
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Accounts Cash Salaries expense Accounts payable Retained earnings Utilities expense Supplies Service revenue Common stock Balances...
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hi I need help with these questions... thanks DONAVAN, INC. Balance Sheet Liabilities and Stockholders' Equity...
hi I need help with these
questions... thanks
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calculate the missing amounts
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Required: Prepare the income statement, statement of stockholders' equity, and balance s Investments. heet for Gator P1-4B Below are incomplete financial statements for Cyclone, Inc. Understand the format of financial statements and the link among them LO1-3) CYCLONE, INC. Income Statement CYCLONE, INC. Statement of Stockholders' Equity Common Retained Total Revenues Stock Earnings S. Equity Expenses: Salaries $13,000 Issuances of stock Rent Advertising 7,000 Add: Net income 5,000 Less: Dividends ncome(b)Ending balance Beginning balance$14,000 $7,000 $21,000 5,000 $17,000 $8,000 $25,000...
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hi I need help with these
questions... thanks
DONAVAN, INC. Balance Sheet Liabilities and Stockholders' Equity Liabilities Assets Cash Inventory Buildings Total assets $ 7,000 10,000 45,000 $62,000 Accounts payable $ 5,000 Stockholders' equity Common stoc Retained earnings Total liabilities and stockholders' equity $62,000 Income Statement $85,000 Revenues Cost of goods sold Salaries and wages expense Net income 10,000 $ (d) Retained Earnings Statement Beginning retained earnings Add: Net income Less: Dividends $12,000 5,000 $27,000 Ending retained earnings Instructions Calculate...
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