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Balance Sheet After its first menth of operations, the following amounts were taken from the accounting records of Big Mountain Realty Inc. as of June 30, 20าร Cash Common stock Dividends $172.250 Notes payable $113,750 81,250 Rent expense 16,250 32,500 Retained earnings 6,500 Salaries expense 136,500 Sales commissions 9,750 Uilities expense 243,750 471,250 Prepare a balance sheet as of June 30, 209. Big Mountain Realty Inc. Balance Sheet une 30, 20Y9 8 gnment/takeAssignmentMain.doivoker &takeAss ator assignment-takeinprogress false Assets Cash Land...
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After its first month of operations, the following amounts were
taken from the accounting records of Big Mountain Realty Inc. as of
June 30, 20Y9. Cash $ 43,000 Notes payable $50,000 Common stock
75,000 Rent expense 8,000 Dividends 2,000 Retained earnings 0
Interest expense 300 Salaries expense 50,000 Land 100,000 Sales
commissions 90,000 Miscellaneous expense 1,700 Utilities expense
10,000 Prepare a statement of cash flows for the month ending June
30, 20Y9. Use the minus sign to indicate cash out...
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Statement of stockholders' equity After its first month of operations, the following amounts were taken from the accounting records of West Coast Dreams Realty Inc. as of June 30, 2019. Cash $79,500 Notes payable $52,500 Common stock 37,500 Rent expense 7,500 Dividends 15,000 Retained earnings 0 Interest expense 3,000 Salaries expense 112,500 Land 63,000 Sales commissions 217,500 Miscellaneous expense 4,500 Utilities expense 22,500 Prepare a statement of stockholders' equity for the month ended June 30, 2049. If an amount box...
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The following amounts were taken from the accounting records of
Padget Home Services, Inc., as of December 31, 20Y7. Padget Home
Services began its operations on January 1, 20Y7. Cash $ 60,000
Common stock 75,000 Dividends 15,000 Fees earned 620,000 Interest
expense 4,800 Land 215,000 Miscellaneous expense 10,200 Notes
payable 80,000 Rent expense 70,000 Salaries expense 272,000 Taxes
expense 43,000 Utilities expense 85,000 After its second year of
operations, the following amounts were taken from the accounting
records of Padget...
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Missing amounts from financial statements The financial statements at the end of Wolverine Realty's first month of operations are as follows: By analyzing the interrelationships among the four financial statements, determine the proper amounts for the missing items. Use the minus sig outflows, cash payments, and decreases in cash in the Statement of Cash Flows. Wolverine Realty Income Statement For the Month Ended April 30, 2040 Fees earned Expenses: $300,000 100,000 Wages expense Rent expense Supplies expense Utilities expense Miscellakeous...
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Financial Statements The following amounts were taken from the
accounting records of Padget Home Services, Inc., as of December
31, 20Y7. Padget Home Services began its operations on January 1,
20Y7. Cash $ 60,000 Common stock 75,000 Dividends 15,000 Fees
earned 620,000 Interest expense 4,800 Land 215,000 Miscellaneous
expense 10,200 Notes payable 80,000 Rent expense 70,000 Salaries
expense 272,000 Taxes expense 43,000 Utilities expense 85,000 After
its second year of operations, the following amounts were taken
from the accounting records...
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Transactions: Financial Statements On April 1, 2048, Maria Adams established Custom Realty, Maria completed the following transactions during the month of April: a. Opened a business bank account with a deposit of $35,000 in exchange for common stock. b. Purchased supplies on account, $3,540. c. Paid creditor on account, $2,240 d. Earned sales commissions, receiving cash, $36,120. e. Paid rent on office and equipment for the month, $7,080. f. Paid dividends. $11,000. g. Paid automobile expenses for month, $3,400, and...
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Chapter 2 Basic Accounting Systems: Cash Basis P2-3 Financial statements The following amounts were taken from the accounting records of Padget Home Services, Inc., as of December 31, 20Y7. Padget Home Services began its operations on January 1, 20Y7. Cash $ 60,000 Common stock 75,000 Dividends 15,000 Fees earned 620,000 Interest expense 4,800 Land 215,000 Miscellaneous expense 10,200 Notes payable 80,000 Rent expense 70,000 Salaries expense 272.000 Taxes expense 43,000 Utilities expense 85.000 Instructions Prepare an income statement for the...
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By analyzing the interrelationships among the four financial statements, determine the proper amounts for the missing items. Use the minus sign to indicate cash outflows, cash payments, and decreases in cash in the Statement of Cash Flows.Wolverine RealtyIncome StatementFor the Month Ended April 30, 20Y0Line Item DescriptionAmountAmountFees earned$fill in the blank 1 Expenses: Wages expense$304,000 Rent expense105,000 Supplies expensefill in the blank 2 Utilities expense24,000 Miscellaneous expense23,000 Total expenses(482,000)Net income$264,000 Wolverine RealtyStatement of Stockholders' EquityFor the Month Ended April 30,...
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Income Statement The following account balances were taken from the adjusted trial balance for Urgent Messenger Service, a delivery service firm, for the fiscal year ended November 30, 2011: Depreciation Expense $11,600 Fees Earned 616,000 Insurance Expense 2,200 Miscellaneous Expense 4,640 88,200 Rent Expense Salaries Expense 309,700 Supplies Expense 3,940 Utilities Expense 33,600 Calculator Salaries Expense 309,700 Supplies Expense 3,940 Utilities Expense 33,600 Prepare an income statement for Urgent Messenger Service. Urgent Messenger Service Income Statement For the Year Ended...
Balance Sheet After its first menth of operations, the following amounts were taken from the accounting records of Big Mountain Realty Inc. as of June 30, 20าร Cash Common stock Dividends $172.250 Notes payable $113,750 81,250 Rent expense 16,250 32,500 Retained earnings 6,500 Salaries expense 136,500 Sales commissions 9,750 Uilities expense 243,750 471,250 Prepare a balance sheet as of June 30, 209. Big Mountain Realty Inc. Balance Sheet une 30, 20Y9 8 gnment/takeAssignmentMain.doivoker &takeAss ator assignment-takeinprogress false Assets Cash Land...
Statement of stockholders' equity After its first month of operations, the following amounts were taken from the accounting records of West Coast Dreams Realty Inc. as of June 30, 2019. Cash $79,500 Notes payable $52,500 Common stock 37,500 Rent expense 7,500 Dividends 15,000 Retained earnings 0 Interest expense 3,000 Salaries expense 112,500 Land 63,000 Sales commissions 217,500 Miscellaneous expense 4,500 Utilities expense 22,500 Prepare a statement of stockholders' equity for the month ended June 30, 2049. If an amount box...
Missing amounts from financial statements The financial statements at the end of Wolverine Realty's first month of operations are as follows: By analyzing the interrelationships among the four financial statements, determine the proper amounts for the missing items. Use the minus sig outflows, cash payments, and decreases in cash in the Statement of Cash Flows. Wolverine Realty Income Statement For the Month Ended April 30, 2040 Fees earned Expenses: $300,000 100,000 Wages expense Rent expense Supplies expense Utilities expense Miscellakeous...
Transactions: Financial Statements On April 1, 2048, Maria Adams established Custom Realty, Maria completed the following transactions during the month of April: a. Opened a business bank account with a deposit of $35,000 in exchange for common stock. b. Purchased supplies on account, $3,540. c. Paid creditor on account, $2,240 d. Earned sales commissions, receiving cash, $36,120. e. Paid rent on office and equipment for the month, $7,080. f. Paid dividends. $11,000. g. Paid automobile expenses for month, $3,400, and...
Chapter 2 Basic Accounting Systems: Cash Basis P2-3 Financial statements The following amounts were taken from the accounting records of Padget Home Services, Inc., as of December 31, 20Y7. Padget Home Services began its operations on January 1, 20Y7. Cash $ 60,000 Common stock 75,000 Dividends 15,000 Fees earned 620,000 Interest expense 4,800 Land 215,000 Miscellaneous expense 10,200 Notes payable 80,000 Rent expense 70,000 Salaries expense 272.000 Taxes expense 43,000 Utilities expense 85.000 Instructions Prepare an income statement for the...
Income Statement The following account balances were taken from the adjusted trial balance for Urgent Messenger Service, a delivery service firm, for the fiscal year ended November 30, 2011: Depreciation Expense $11,600 Fees Earned 616,000 Insurance Expense 2,200 Miscellaneous Expense 4,640 88,200 Rent Expense Salaries Expense 309,700 Supplies Expense 3,940 Utilities Expense 33,600 Calculator Salaries Expense 309,700 Supplies Expense 3,940 Utilities Expense 33,600 Prepare an income statement for Urgent Messenger Service. Urgent Messenger Service Income Statement For the Year Ended...