Depreciation = Revenue - Net income - salaries and wages expense - Interest expense | |||||||
Depreciation = $ 54000 - $ 25800 - $ 10100 - $ 1400 | |||||||
Depreciation = $ 16700 | |||||||
Beginning retained earnings = Ending retained earnings - Net income + Dividend | |||||||
Beginning retained earnings = $ 37800 - $ 25800 + $ 6500 | |||||||
Beginning retained earnings = $ 18500 | |||||||
Total liabilities and stockholder equity = Notes payable + common stock + Ending retained earnings | |||||||
Total liabilities and stockholder equity = $ 23500 + $ 36400 + $ 37800 | |||||||
Total liabilities and stockholder equity = $ 97700 | |||||||
So Total Assets = $ 97700 | |||||||
Supplies = Total assets - cash - Equipments (net) | |||||||
Supplies = $ 97700 - $ 30000 -$ 62800 | |||||||
Supplies = $ 4900 | |||||||
Oriole Company | |||||||
Balance sheet | |||||||
$ | |||||||
Cash | 30000 | ||||||
Supplies | 4900 | ||||||
Equipments (net) | 62800 | ||||||
Total Assets | 97700 | ||||||
Liabilities | |||||||
Notes payable | 23500 | ||||||
Stockholder's equity | |||||||
Common stock | 36400 | ||||||
Retained earnings | 37800 | ||||||
Total Liabilities and stockholder's equity | 97700 | ||||||
Oriole Company | |||||||
Income statement | |||||||
$ | |||||||
Revenues | 54000 | ||||||
Less: | |||||||
Depreciation Expense | 16700 | ||||||
Salaries and wages expense | 10100 | ||||||
Interest expense | 1400 | ||||||
Net income | 25800 | ||||||
Oriole Company | |||||||
Retained earnings | |||||||
$ | |||||||
Beginning retained earnings | 18500 | ||||||
Add: Net income | 25800 | ||||||
Less: Dividends | 6500 | ||||||
Ending retained earnings | 37800 |
Here are incomplete financial statements for Oriole Company. Calculate the missing amounts. / ORIOLE COMPANY Balance...
Here are incomplete financial statements for Ivanhoe Company. Calculate the missing amounts. IVANHOE COMPANY Balance Sheet Assets Cash $ 14,200 Inventory 17,200 Buildings 37,800 Total assets $69,200 Liabilities and Stockholders' Equity Liabilities Accounts payable $ 5,700 Stockholders' Equity Common stock enter a dollar amount (a) Retained earnings enter a dollar amount (b) Total liabilities and stockholders' equity $69,200 IVANHOE COMPANY Income Statement Revenues $84,900 Cost of goods sold enter a dollar amount (c) Salaries and wages expense 10,070 Net income...
Here are incomplete financial statements for Sunland Company. Calculate the missing amounts. SUNLAND COMPANY Balance Sheet Assets Cash $29,300 Supplies (a) Equipment (net) 64,600 Total assets Liabilities and Stockholders' Equity Liabilities Notes payable $22,300 Stockholders' Equity Common stock 39,000 Retained earnings 9740 (c) Total liabilities and stockholders' equity $ | (d) Notes payable $22,300 Stockholders' Equity Common stock 39,000 Retained earnings 9740 (c) Total liabilities and stockholders' equity $ SUNLAND COMPANY Income Statement Revenues $51,500 Depreciation expense Salaries and wages...
calculate missing amounts Here are incomplete financial statements for Cullumber Company. Calculate the missing amounts. CULLUMBER COMPANY Balance Sheet Assets $ 14,000 Cash 17,000 Inventory 38,000 Buildings $69,000 Total assets Liabilities and Stockholders' Equity Liabilities $ 5,600 Accounts payable Stockholders' Equity (a) Common stock Retained earnings (b) $69,000 Total liabilities and stockholders' equity CULLUMBER COMPANY Income Statement $85,400 Revenues (c) Cost of goods sold 10,270 Salaries and wages expense (d) Net income CULLUMBER COMPANY Retained Earnings Statement $19,000 Beginning retained...
Here are incomplete financial statements for Sandhill Co.. Calculate the missing amounts. SANDHILL CO. Balance Sheet Assets Cash $ 14,700 Inventory 17,700 Buildings 37.300 Total assets $69,700 Liabilities and Stockholders' Equity Liabilities Accounts payable $ 6,000 Stockholders' Equity Common stock Retained earnings Total liabilities and stockholders' equity $69.700 SANDHILL CO. Income Statement Revenues $84,900 Cost of goods sold Salaries and wages expense 10.130 Net income SANDHILL CO. Retained Earnings Statement Beginning retained earnings $19,700 Add: Net income Less: Dividends 4,860...
Here are incomplete financial statements for Donavan, Inc. Calculate the missing amounts. DONAVAN, INC. Balance Sheet Assets Cash $ 13,000 Inventory 16,000 Buildings 39,000 Total assets $68,000 Liabilities and Stockholders' Equity Liabilities Accounts payable $5,400 Stockholders' Equity Common stock @ Retained earnings @ Total liabilities and stockholders' equity $68,000 DONAVAN, INC. Income Statement Revenues $84,700 Cost of goods sold Salaries and wages expense 10,430 Net Income DONAVAN, INC. Retained Earnings Statement Beginning retained earnings $18,000 Add: Net income le) Less:...
Here are incomplete financial statements for Donavan, Inc. Calculate the missing amounts. DONAVAN, INC. Balance Sheet Cash Inventory Buildings Total assets $12,000 15,000 40,000 $67,000 Liabilities and Stockholders' Equity Liabilities $ 5,800 Accounts payable Stockholders' Equity Common stock Retained earnings Total liabilities and stockholders' equity $67,000 DONAVAN, INC. Income Statement Revenues $84,200 Cost of goods sold Salaries and wages expense 10,430 Net Income DONAVAN, INC Retained Earnings Statement $17,000 Beginning retained earnings Add: Net income Less: Dividends Ending retained earnings...
Exercise 1-9 Here are incomplete financial statements for Donavan, Inc. Calculate the missing amounts. DONAVAN, INC. Balance Sheet Assets Cash $ 12,300 Inventory 15,300 Buildings 39,700 Total assets $67,300 Liabilities and Stockholders' Equity Liabilities Accounts payable $ 5,500 Stockholders' Equity Common stock Retained earnings (b) Total liabilities and stockholders' equity $67,300 DONAVAN, INC. Income Statement $85,900 Revenues Cost of goods sold Salaries and wages expense 10,310 Net Income DONAVAN, INC. Retained Earnings Statement Beginning retained earnings $17,300 Add: Net income...
Calculate missing amounts E1-9 Here are incomplete financial statements for Donavan, Inc LO 3), AN DONAVAN, INC. Balance Sheet ssets Liabilities and Stockholders' Equity Cash Inventory Buildings 45,000 Stockholders' equity Total assets S62,000 $ 7,000 Liabilities 10,000 Accounts payable S 5,000 Common stock 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 S (d) Retained Earnings Statement Beginning retained earnings S12,000 Add: Net income Less: Dividends...
* Exercise 1-9 Here are incomplete financial statements for Donavan, Inc. Calculate the missing amounts. Donavan, Inc. Balance Sheet Assets Cash Inventory $7,000 10,000 45,000 Buildings Total assets $62,000 Liabilities and Stockholders' Equity Liabilities $5,000 Accounts payable Stockholders' Equity Common stock Retained earnings Total liabilities and stockholders' equity $62,000 Donavan, Inc. Income Statement $85,000 Revenues Cost of goods sold (c) Salaries and wages expense (10,000) Net Income Donavan, Inc. Retained Earnings Statement Beginning retained earnings $12,000 Add: Net income Less:...
E1-9 Here are incomplete financial statements for Donavan, Inc. 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 stock Retained earnings Total liabilities and stockholders' equity $62,000 Income Statement Revenues Cost of goods sold Salaries and wages expense Net income $85,000 10,000 $ (d) Retained Earnings Statement Beginning retained earnings Add: Net income Less: Dividends $12,000 5,000 $27,000 Ending retained earnings Instructions...