Homework Answers
| Balance Sheet | ||
| Assets | ||
| Cash | 7000 | |
| Inventory | 10000 | |
| Buildings | 45000 | |
| Total Assets | 62000 | |
| Liabilities and Stockholders' Equity | ||
| Liabilities | ||
| Accounts Payable | 5000 | |
| Stockholders' Equity | ||
| Common Stock | 30000 | =62000-27000-5000 |
| Retained Earnings | 27000 | |
| Total Liabilities and Stockholders' Equity | 62000 | |
| Income Statement | ||
| Revenues | 85000 | |
| Cost of goods sold | (55000) | =85000-10000-20000 |
| Salaries and wages expense | (10000) | |
| Net income | 20000 | |
| Retained Earnings statement | ||
| Beginning Retained Earnings | 12000 | |
| Add: Net income | 20000 | =27000+5000-12000 |
| Less: Dividends | (5000) | |
| Ending Retained Earnings | 27000 | |
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* Exercise 1-9 Here are incomplete financial statements for Donavan, Inc. Calculate the missing amounts. Donavan,...
E1-9 Here are incomplete financial statements for Donavan, Inc. DONAVAN, INC. Balance Sheet Liabilities and Stockholders'...
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...
Calculate missing amounts E1-9 Here are incomplete financial statements for Donavan, Inc LO 3), AN DONAVAN,...
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....
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...
Here are incomplete financial statements for Donavan, Inc. Calculate the missing amounts. DONAVAN, INC. Balance Sheet...
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...
Here are incomplete financial statements for Donavan, Inc. Calculate the missing amounts. DONAVAN, INC. Balance Sheet...
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:...
hi I need help with these questions... thanks DONAVAN, INC. Balance Sheet Liabilities and Stockholders' Equity...
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...
Below are incomplete financial statements for Bulldog, Inc. Required: Calculate the missing amounts. 39,000 BULLDOG, INC....
Below are incomplete financial statements for Bulldog, Inc. Required: Calculate the missing amounts. 39,000 BULLDOG, INC. Income Statement Revenues $ Expenses: Salaries Advertising Utilities Net income 6,000 4,000 BULLDOG, INC. Statement of Stockholders' Equity Total Common Retained Stockholders' Stock Earnings Equity Beginning balance 10,000 $ 7,000 $ 17,000 Issuances 1,100 1,100 Add: Net income Less: Dividends (3.000) (3,000) Ending balance 11,100 $ 10,000 $ 21,100 Assets Cash Accounts receivable Supplies Equipment Total assets BULLDOG, INC. Balance Sheet Liabilities $ 4,000...
Below are incomplete financial statements for Cyclone, Inc. Required: Calculate the missing amounts. CYCLONE, INC. Income...
Below are incomplete financial statements for Cyclone, Inc. Required: Calculate the missing amounts. CYCLONE, INC. Income Statement Year ended Dec. 31, 2021 Revenues Expenses: Salaries $ 12,000 Rent 6,000 Advertising 4,000 Net income CYCLONE, INC. Statement of Stockholders' Equity Year ended Dec. 31, 2021 Common Stock Retained Earnings Total Stockholders' Equity $ 19,000 13,000 $ 6,000 Beginning balance Issuances of stock Add: Net income Less: Dividends Ending balance 4,000 4,000 $ 15,000 $ 7,000 $ 22,000 Assets $ CYCLONE, INC....
calculate missing amounts Here are incomplete financial statements for Cullumber Company. Calculate the missing amounts. CULLUMBER...
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...
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...
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...
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 $ 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...
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...
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:...
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...
Below are incomplete financial statements for Bulldog, Inc. Required: Calculate the missing amounts. 39,000 BULLDOG, INC. Income Statement Revenues $ Expenses: Salaries Advertising Utilities Net income 6,000 4,000 BULLDOG, INC. Statement of Stockholders' Equity Total Common Retained Stockholders' Stock Earnings Equity Beginning balance 10,000 $ 7,000 $ 17,000 Issuances 1,100 1,100 Add: Net income Less: Dividends (3.000) (3,000) Ending balance 11,100 $ 10,000 $ 21,100 Assets Cash Accounts receivable Supplies Equipment Total assets BULLDOG, INC. Balance Sheet Liabilities $ 4,000...
Below are incomplete financial statements for Cyclone, Inc. Required: Calculate the missing amounts. CYCLONE, INC. Income Statement Year ended Dec. 31, 2021 Revenues Expenses: Salaries $ 12,000 Rent 6,000 Advertising 4,000 Net income CYCLONE, INC. Statement of Stockholders' Equity Year ended Dec. 31, 2021 Common Stock Retained Earnings Total Stockholders' Equity $ 19,000 13,000 $ 6,000 Beginning balance Issuances of stock Add: Net income Less: Dividends Ending balance 4,000 4,000 $ 15,000 $ 7,000 $ 22,000 Assets $ CYCLONE, INC....
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...
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