On December 31, Fighting Okra Cooking Services reports the following revenues and expenses.
Homework Answers
Income statement
| Revenue | ||
| Service revenue | 85000 | |
| Expense | ||
| Postage expense | 2000 | |
| Legal fees expense | 2900 | |
| rent expense | 11600 | |
| Salaries expense | 34000 | |
| Supplies expense | 19500 | |
| total expense | 70000 | |
| Net income | 15000 | |
Statement of stockholder's equity
| Common Stock | retained earnings | Total Stockholder's equity | |
| Beginning balance | 700000 | 52000 | 752000 |
| Issue common Stock | 35000 | 35000 | |
| Net income | 15000 | 15000 | |
| Dividend paid | -30000 | -30000 | |
| Ending balances | 735000 | 37000 | 772000 |
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On December 31, Fighting Okra Cooking Services reports the
following revenues and expenses.
On December 31,...
On December 31, Fighting Okra Cooking Services reports the following revenues and expenses. Service revenue Postage...
On December 31, Fighting Okra Cooking Services reports the following revenues and expenses. Service revenue Postage expense Legal fees expense Rent expense Salaries expense Supplies expense $ 71,000 1,100 2,100 10,000 19,000 10,000 In addition, the balance of common stock at the beginning of the year was $150,000, and the balance of retained earnings was $26,000. During the year, the company issued additional sharestof common stock for $20,000 and paid dividends of $10,000, Required: 1. Prepare an income statement FIGHTING...
On December 31, 2021, Fighting Okra Cooking Services reports the following revenues and expenses. Service revenue...
On December 31, 2021, Fighting Okra Cooking Services reports the following revenues and expenses. Service revenue Postage expense Legal fees expense $82,000 1,850 2,750 Rent expense Salaries expense Supplies expense 11,300 31,000 18,000 In addition, the balance of common stock at the beginning of the year was $550,000, and the balance of retained earnings was $46,000. During the year, the company issued additional shares of common stock for $32,000 and paid dividends of $24,000. Required: 1. Prepare an income statement....
On December 31, 2021, Fighting Okra Cooking Services reports the following revenues and expenses. Service revenue...
On December 31, 2021, Fighting Okra Cooking Services reports the following revenues and expenses. Service revenue Postage expense Legal fees expense $89,000 2,200 3,100 12,000 38,000 21,500 Rent expense Salaries expense Supplies expense In addition, the balance of common stock at the beginning of the year was $900,000, and the balance of retained earnings was $60,000. During the year, the company issued additional shares of common stock for $39,000 and paid dividends of $38,000. Required: 1. Prepare an income statement....
On December 31, 2021. Fighting Okra Cooking Services reports the following revenues and expenses $ 714...
On December 31, 2021. Fighting Okra Cooking Services reports the following revenues and expenses $ 714 Doncs $75,000 1. CO 2.400 Service Tevenue Portare expense Legal fest expense Rent expense Salute expense Supplies expense 10.000 26.000 14.500 In addition, the balance of common stock at the beginning of the year was $200,000, and the balance of retained earnings was $32,000. During the year, the company issued additional shares of common stock for $25.000 and paid dividends of $10,000 Required: erences...
Saved Help Save & E Chec On December 31, 2021, Fighting Okra Cooking Services reports the...
Saved Help Save & E Chec On December 31, 2021, Fighting Okra Cooking Services reports the following revenues and expenses. Service revenue Postage expense Legal fees expense points $76,000 1,550 2,450 Rent expense Salaries expense Supplies expense 10,700 25,000 15,000 18 02:54:32 brir w In addition, the balance of common stock at the beginning of the year was $250,000, and the balance of retained earnings was $34,000. During the year, the company issued additional shares of common stock for $26,000...
Accounting
On December 31, 2021 fighting okra cooking service reports the following revenues and expenses: Service Revenue 74,000 Postage expense 1400, legal fees 2400, rent Expense 16600, salaries expense 22,000, supplies expense 16000. in addition the balance of common stock at the beginning of the year was 165,000 and the balance of retained earnings was 32000. During the. Year the company issued additional shares of common stock for $26,000 and paid dividends of 16000 prepare an income statement and a statement...
Let's Review On December 31, Wortham Services reports the following year-end amounts. Assets:Cash $11,000 Revenues: Service...
Let's Review On December 31, Wortham Services reports the following year-end amounts. Assets:Cash $11,000 Revenues: Service $85,000 Accts. rec. Buildings 19,000 32,000 Expenses: Advertising 12,000 Insurance 18,000 44,000 Liabilities: Salaries payable 5,000 Notes payable 20,000 Salaries Additional information: a. The balance of retained earnings at the beginning of the year is $6,000. b. The company pays dividends of $5,000 on December 31. c. Common stock is $20,000 at the beginning of the year, and $5,000 of additional shares are issued...
On 31, F+ tpx Exercise 1-10 Link the income statement to the statement of stockholders' equity...
On 31, F+ tpx Exercise 1-10 Link the income statement to the statement of stockholders' equity (L013) On December 31, Fighting Okra Cooking Services reports the following revenues and expenses. $ 78,000 1,650 2,550 10,900 Rent e Supplies expense 16,000 In add shares of common stock for $28,000 and paid dividends of $16,000. S 78,000 O Type here to search
Required information [The following information applies to the questions displayed below.] The December 31, 2018, adjusted...
Required information [The following information applies to the questions displayed below.] The December 31, 2018, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit $ Debit 11,600 146,000 5,600 28,000 360,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense $ 131,000 11,600 10.600 4.600 36,000 260,000 56,000 460,000 360,000...
Tiffany's provides financial services related to investment selections, retirement planning, and general insurance needs. For the...
Tiffany's provides financial services related to investment
selections, retirement planning, and general insurance needs. For
the current year, the company reports the following amounts:
Advertising Expense
$
31,200
Service revenue
$
129,300
Buildings
108,000
Interest Expense
3,500
Salaries Expense
67,800
Utilities Expense
14,500
Accounts Payable
6,300
Equipment
25,700
Cash
6,400
Notes payable
30,000
In addition, the company had common stock of $60,000 at the
beginning of the year and issued an additional $15,000 during the
year. The company...
On December 31, Fighting Okra Cooking Services reports the following revenues and expenses. Service revenue Postage expense Legal fees expense Rent expense Salaries expense Supplies expense $ 71,000 1,100 2,100 10,000 19,000 10,000 In addition, the balance of common stock at the beginning of the year was $150,000, and the balance of retained earnings was $26,000. During the year, the company issued additional sharestof common stock for $20,000 and paid dividends of $10,000, Required: 1. Prepare an income statement FIGHTING...
On December 31, 2021, Fighting Okra Cooking Services reports the following revenues and expenses. Service revenue Postage expense Legal fees expense $82,000 1,850 2,750 Rent expense Salaries expense Supplies expense 11,300 31,000 18,000 In addition, the balance of common stock at the beginning of the year was $550,000, and the balance of retained earnings was $46,000. During the year, the company issued additional shares of common stock for $32,000 and paid dividends of $24,000. Required: 1. Prepare an income statement....
On December 31, 2021, Fighting Okra Cooking Services reports the following revenues and expenses. Service revenue Postage expense Legal fees expense $89,000 2,200 3,100 12,000 38,000 21,500 Rent expense Salaries expense Supplies expense In addition, the balance of common stock at the beginning of the year was $900,000, and the balance of retained earnings was $60,000. During the year, the company issued additional shares of common stock for $39,000 and paid dividends of $38,000. Required: 1. Prepare an income statement....
On December 31, 2021. Fighting Okra Cooking Services reports the following revenues and expenses $ 714 Doncs $75,000 1. CO 2.400 Service Tevenue Portare expense Legal fest expense Rent expense Salute expense Supplies expense 10.000 26.000 14.500 In addition, the balance of common stock at the beginning of the year was $200,000, and the balance of retained earnings was $32,000. During the year, the company issued additional shares of common stock for $25.000 and paid dividends of $10,000 Required: erences...
Saved Help Save & E Chec On December 31, 2021, Fighting Okra Cooking Services reports the following revenues and expenses. Service revenue Postage expense Legal fees expense points $76,000 1,550 2,450 Rent expense Salaries expense Supplies expense 10,700 25,000 15,000 18 02:54:32 brir w In addition, the balance of common stock at the beginning of the year was $250,000, and the balance of retained earnings was $34,000. During the year, the company issued additional shares of common stock for $26,000...
Let's Review On December 31, Wortham Services reports the following year-end amounts. Assets:Cash $11,000 Revenues: Service $85,000 Accts. rec. Buildings 19,000 32,000 Expenses: Advertising 12,000 Insurance 18,000 44,000 Liabilities: Salaries payable 5,000 Notes payable 20,000 Salaries Additional information: a. The balance of retained earnings at the beginning of the year is $6,000. b. The company pays dividends of $5,000 on December 31. c. Common stock is $20,000 at the beginning of the year, and $5,000 of additional shares are issued...
On 31, F+ tpx Exercise 1-10 Link the income statement to the statement of stockholders' equity (L013) On December 31, Fighting Okra Cooking Services reports the following revenues and expenses. $ 78,000 1,650 2,550 10,900 Rent e Supplies expense 16,000 In add shares of common stock for $28,000 and paid dividends of $16,000. S 78,000 O Type here to search
Required information [The following information applies to the questions displayed below.] The December 31, 2018, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit $ Debit 11,600 146,000 5,600 28,000 360,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Stock Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense $ 131,000 11,600 10.600 4.600 36,000 260,000 56,000 460,000 360,000...
Tiffany's provides financial services related to investment
selections, retirement planning, and general insurance needs. For
the current year, the company reports the following amounts:
Advertising Expense
$
31,200
Service revenue
$
129,300
Buildings
108,000
Interest Expense
3,500
Salaries Expense
67,800
Utilities Expense
14,500
Accounts Payable
6,300
Equipment
25,700
Cash
6,400
Notes payable
30,000
In addition, the company had common stock of $60,000 at the
beginning of the year and issued an additional $15,000 during the
year. The company...
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