Homework Answers
| Balance Sheet | ||
| August 31,2017 | ||
| Assets | ||
| Current assets | ||
| Cash | 12830 | |
| Accounts receivable | 4990 | |
| Supplies | 780 | |
| Total current assets | 18600 | |
| Equipment | 5060 | |
| Total Assets | 23660 | |
| Liabilities and Stockholders' Equity | ||
| Current liabilities | ||
| Account payable | 1670 | |
| Stockholders' equity | ||
| Common stock | 18400 | |
| Retained earnings | 3590 | |
| Total Stockholders' equity | 21990 | |
| Total liabilities and stockholders' equity | 23660 |
Add Answer to:
Assets Liabilities+ Stockholders' Equity Cash A/R + Supp. + Equip.Accounts Payable + Common Stock + Retained...
A tabular analysis of the transactions made during August 2017 by Sheridan Company during its first...
A tabular analysis of the transactions made during August 2017 by Sheridan Company during its first month of operations is shown below. Each increase and decrease in stockholders' equity is explained. Assets Liabilities Stockholders' Equity Cash+ A/R Supp. + Equip. Accounts Payable + Common Stock + Retained Earnings Revenues Expenses Dividends (1) $18,400 $18,400 Com. Stock $5,060 $3,950 -780 $780 4,500 $5,400 S9,900 (4) (5) 2,500 (6)1,300 Serv. Rev. -2,500 -$1,300 Div. -790 -$790 Rent Exp 410 -410 (9) -4,000...
decrease in SLUCRIIULIS quity is explained. Assets Liabilities + Stockholders' Equity + Supp. + Equip. -...
decrease in SLUCRIIULIS quity is explained. Assets Liabilities + Stockholders' Equity + Supp. + Equip. - Accounts Payable + Common Stock + Retained Earnings Cash + A/R Revenues - Expenses - Dividends 1. $22,100 $22,100 2. $5,030 - 1,580 -790 3,500 $790 $6,300 $9.800 Serv. Rev. 1.700 - 1,700 -1,500 -820 $1,500 -$820 Rent Exp. 500 -500 -3,800 -3.800 Sal. Exp. -390 Util. Exp. Your Answer Correct Answer Uusi uuel opriulaity) CARLA VISTA CO. Balance Sheet August 31, 2022 Current...
Cash + Accounts Receivable + Supplies + Equipment Accounts Payable Common Stock Retained Earnings = +...
Cash
+
Accounts
Receivable
+
Supplies
+
Equipment
Accounts
Payable
Common
Stock
Retained
Earnings
=
+
+
Revenues
–
Expenses
–
Dividend
1.
$14,600
$14,600
2.
–1,800
$4,300
$2,500
3.
–750
$750
4.
5,100
$3,500
$8,600
Service Revenue
5.
–1,000
–1,000
6.
–1,900
-$1,900
7.
–700
–$700
Rent Expense
8.
350
–350
9.
–4,000
–4,000
Salaries/Wages Expense
10.
550
–550
Utilities Expense
(a)
Prepare an income statement for August.
Sheridan
Company
Income Statement
Choose the accounting period
August 31, 2019For...
Cash + Accounts Receivable + Supplies + Equipment Accounts Payable Common Stock Retained Earnings = +...
Cash
+
Accounts
Receivable
+
Supplies
+
Equipment
Accounts
Payable
Common
Stock
Retained
Earnings
=
+
+
Revenues
–
Expenses
–
Dividend
1.
$14,600
$14,600
2.
–1,800
$4,300
$2,500
3.
–750
$750
4.
5,100
$3,500
$8,600
Service Revenue
5.
–1,000
–1,000
6.
–1,900
-$1,900
7.
–700
–$700
Rent Expense
8.
350
–350
9.
–4,000
–4,000
Salaries/Wages Expense
10.
550
–550
Utilities Expense
(a)
Prepare an income statement for August.
Sheridan
Company
Income Statement
Choose the accounting period
August 31, 2019For...
Assets - Liabilities + Stockholders' Equity Retained Earnings Accounts + Receivable Supplies Equipment Accounts Payable Common...
Assets - Liabilities + Stockholders' Equity Retained Earnings Accounts + Receivable Supplies Equipment Accounts Payable Common Stock +$15,000 Revenues Expenses Dividend + $5,000 +$3,000 +$750 $4,500 + $9.400 Service Revenue Cash +$15,000 -2.000 -750 +4,900 - 1,500 -2,000 -850 +450 -3,900 -1,500 -$2,000 Rent Expense -$850 -3,900 -500 Salaries/Wages Expense Utilities Expense (b) Determine how much stockholders' equity increased for the month. Increase in stockholders' equity (c) Compute the amount of net income for the month Net income Toth Company...
Accounts Cash Salaries expense Accounts payable Retained earnings Utilities expense Supplies Service revenue Common stock Balances...
Accounts Cash Salaries expense Accounts payable Retained earnings Utilities expense Supplies Service revenue Common stock Balances $ 5,400 2,200 3,400 3,900 1,200 13,800 9,300 6,000 Required: Use only the appropriate accounts to prepare an income statement. COWBOY LAW FIRM Income Statement For the Period Ended December 31 Expenses: Total expenses Below are incomplete financial statements for Bulldog, Inc. Required: Calculate the missing amounts. BULLDOG, INC. Income Statement Revenues 39,000 Expenses: Salaries Advertising Utilities Net income 6,000 4.000 BULLDOG, INC. Statement...
Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec. 31, 2016 Retained earnings,...
Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec. 31, 2016 Retained earnings, Dec. 31, 2017 Dividends Consulting revenue Rental revenue Salaries expense Rent expense selling and administrative expenses 11,500 10,500 7,580 6,500 16,500 12,800 5,560 7,580 14,589 36,809 25,800 21,580 13,580 9,588 es Required: Prepare the 2017 year-end income statement for Armani Company ARMANI COMPANY Income Statement For Year Ended December 31, 2017 Consulting revenue Rental revenue 6,000 25,000 Total revenues Expenses Prev 4of4İİİ Next re...
The retained earnings statement O reports the assets, liabilities, and stockholders' equity at a specific date....
The retained earnings statement O reports the assets, liabilities, and stockholders' equity at a specific date. O reports the changes in assets, liabilities, and stockholders' equity over a period of time. O presents the revenues and expenses for a specific period of time. O summarizes the changes in retained earnings for a specific period of time.
Balance Sheet Assets Cash Inventory Buildings Total assets $12,000 15,000 40,000 $67,000 Liabilities and Stockholders' Equity...
Balance Sheet Assets Cash Inventory Buildings Total assets $12,000 15,000 40,000 $67,000 Liabilities and Stockholders' Equity iabilities Accounts payable Stockholders' Equity $5,800 Common stock Retained earnings Total liabilities and stockholders' equity $67,000 DONAVAN, INC. Income Statement $84,200 Revenues Cost of goods sold Salaries and wages expense Net Income 10,430 DONAVAN, INC. Retained Earnings Statement $17,000 Beginning retained earnings Add: Net income Less: Dividends Ending retained earnings 4,610 $32,000
BLOSSOM COMPANY Balance Sheet Assets Cash $28,600 Supplies Equipment (net) 62,100 Total assets Liabilities and Stockholders'...
BLOSSOM COMPANY Balance Sheet Assets Cash $28,600 Supplies Equipment (net) 62,100 Total assets Liabilities and Stockholders' Equity Liabilities Notes payable $22.000 Stockholders' Equity Common stock 39,000 Retained earnings Total liabilities and stockholders' equity BLOSSOM COMPANY Income Statement Revenues $61,500 Depreciation expense Salaries and wages expense 11,500 Interest expense 1,800 Net Income $26,400 Notes payable $22,000 Stockholders' Equity Common stock 39,000 Retained earnings Total liabilities and stockholders' equity (d) BLOSSOM COMPANY Income Statement Revenues $61,500 Depreciation expense Salaries and wages expense...
A tabular analysis of the transactions made during August 2017 by Sheridan Company during its first month of operations is shown below. Each increase and decrease in stockholders' equity is explained. Assets Liabilities Stockholders' Equity Cash+ A/R Supp. + Equip. Accounts Payable + Common Stock + Retained Earnings Revenues Expenses Dividends (1) $18,400 $18,400 Com. Stock $5,060 $3,950 -780 $780 4,500 $5,400 S9,900 (4) (5) 2,500 (6)1,300 Serv. Rev. -2,500 -$1,300 Div. -790 -$790 Rent Exp 410 -410 (9) -4,000...
decrease in SLUCRIIULIS quity is explained. Assets Liabilities + Stockholders' Equity + Supp. + Equip. - Accounts Payable + Common Stock + Retained Earnings Cash + A/R Revenues - Expenses - Dividends 1. $22,100 $22,100 2. $5,030 - 1,580 -790 3,500 $790 $6,300 $9.800 Serv. Rev. 1.700 - 1,700 -1,500 -820 $1,500 -$820 Rent Exp. 500 -500 -3,800 -3.800 Sal. Exp. -390 Util. Exp. Your Answer Correct Answer Uusi uuel opriulaity) CARLA VISTA CO. Balance Sheet August 31, 2022 Current...
Cash
+
Accounts
Receivable
+
Supplies
+
Equipment
Accounts
Payable
Common
Stock
Retained
Earnings
=
+
+
Revenues
–
Expenses
–
Dividend
1.
$14,600
$14,600
2.
–1,800
$4,300
$2,500
3.
–750
$750
4.
5,100
$3,500
$8,600
Service Revenue
5.
–1,000
–1,000
6.
–1,900
-$1,900
7.
–700
–$700
Rent Expense
8.
350
–350
9.
–4,000
–4,000
Salaries/Wages Expense
10.
550
–550
Utilities Expense
(a)
Prepare an income statement for August.
Sheridan
Company
Income Statement
Choose the accounting period
August 31, 2019For...
Cash
+
Accounts
Receivable
+
Supplies
+
Equipment
Accounts
Payable
Common
Stock
Retained
Earnings
=
+
+
Revenues
–
Expenses
–
Dividend
1.
$14,600
$14,600
2.
–1,800
$4,300
$2,500
3.
–750
$750
4.
5,100
$3,500
$8,600
Service Revenue
5.
–1,000
–1,000
6.
–1,900
-$1,900
7.
–700
–$700
Rent Expense
8.
350
–350
9.
–4,000
–4,000
Salaries/Wages Expense
10.
550
–550
Utilities Expense
(a)
Prepare an income statement for August.
Sheridan
Company
Income Statement
Choose the accounting period
August 31, 2019For...
Assets - Liabilities + Stockholders' Equity Retained Earnings Accounts + Receivable Supplies Equipment Accounts Payable Common Stock +$15,000 Revenues Expenses Dividend + $5,000 +$3,000 +$750 $4,500 + $9.400 Service Revenue Cash +$15,000 -2.000 -750 +4,900 - 1,500 -2,000 -850 +450 -3,900 -1,500 -$2,000 Rent Expense -$850 -3,900 -500 Salaries/Wages Expense Utilities Expense (b) Determine how much stockholders' equity increased for the month. Increase in stockholders' equity (c) Compute the amount of net income for the month Net income Toth Company...
Accounts Cash Salaries expense Accounts payable Retained earnings Utilities expense Supplies Service revenue Common stock Balances $ 5,400 2,200 3,400 3,900 1,200 13,800 9,300 6,000 Required: Use only the appropriate accounts to prepare an income statement. COWBOY LAW FIRM Income Statement For the Period Ended December 31 Expenses: Total expenses Below are incomplete financial statements for Bulldog, Inc. Required: Calculate the missing amounts. BULLDOG, INC. Income Statement Revenues 39,000 Expenses: Salaries Advertising Utilities Net income 6,000 4.000 BULLDOG, INC. Statement...
Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec. 31, 2016 Retained earnings, Dec. 31, 2017 Dividends Consulting revenue Rental revenue Salaries expense Rent expense selling and administrative expenses 11,500 10,500 7,580 6,500 16,500 12,800 5,560 7,580 14,589 36,809 25,800 21,580 13,580 9,588 es Required: Prepare the 2017 year-end income statement for Armani Company ARMANI COMPANY Income Statement For Year Ended December 31, 2017 Consulting revenue Rental revenue 6,000 25,000 Total revenues Expenses Prev 4of4İİİ Next re...
The retained earnings statement O reports the assets, liabilities, and stockholders' equity at a specific date. O reports the changes in assets, liabilities, and stockholders' equity over a period of time. O presents the revenues and expenses for a specific period of time. O summarizes the changes in retained earnings for a specific period of time.
Balance Sheet Assets Cash Inventory Buildings Total assets $12,000 15,000 40,000 $67,000 Liabilities and Stockholders' Equity iabilities Accounts payable Stockholders' Equity $5,800 Common stock Retained earnings Total liabilities and stockholders' equity $67,000 DONAVAN, INC. Income Statement $84,200 Revenues Cost of goods sold Salaries and wages expense Net Income 10,430 DONAVAN, INC. Retained Earnings Statement $17,000 Beginning retained earnings Add: Net income Less: Dividends Ending retained earnings 4,610 $32,000
BLOSSOM COMPANY Balance Sheet Assets Cash $28,600 Supplies Equipment (net) 62,100 Total assets Liabilities and Stockholders' Equity Liabilities Notes payable $22.000 Stockholders' Equity Common stock 39,000 Retained earnings Total liabilities and stockholders' equity BLOSSOM COMPANY Income Statement Revenues $61,500 Depreciation expense Salaries and wages expense 11,500 Interest expense 1,800 Net Income $26,400 Notes payable $22,000 Stockholders' Equity Common stock 39,000 Retained earnings Total liabilities and stockholders' equity (d) BLOSSOM COMPANY Income Statement Revenues $61,500 Depreciation expense Salaries and wages expense...
Most questions answered within 3 hours.
-
1. When a nearsighted person looks at an object that is in the
distance with their...
asked 47 minutes ago -
QUESTION 8
Both of these statements will store the same value in the
variable $number
$number...
asked 1 hour ago -
The price of 1 lb of potatoes is $1.75. If all the potatoes sold
today at...
asked 2 hours ago -
Garcia Company issues 20.00%, 15-year bonds with a par value of
$470,000 and semiannual interest payments....
asked 2 hours ago -
In C++ Programming, Try using loops only.
This lab demonstrates the use of the While Loop...
asked 2 hours ago -
Effect of DCMU and sodium azide on Chlamydomonas? We did an
experiment where we had Chlamydomonas...
asked 3 hours ago -
1a) According to the ideal gas law, _______________.
a. a gas has infinite volume at absolute...
asked 5 hours ago -
Oakdale Fashions, Inc. had $245,000 in 2018 taxable income.
Using the tax schedule in Table 2.3...
asked 5 hours ago -
The marketing class at CSUS had an average score of 150. An
educational analyst determined that...
asked 6 hours ago -
Justin Case has purchased a $250 000 home by putting 20 % down
and taking out...
asked 6 hours ago -
1. In a labor market, marginal cost for a firm is
____________.
a. recruiting cost
b....
asked 7 hours ago -
On January 1, 2019, ABC Company issued $60,000,000 of 20-year,
10.5% bonds when the market rate...
asked 7 hours ago