Homework Answers
Net Income
Net Income = Total Revenues – Total Expenses
= [Service revenue + Rent revenue] – [Utilities expenses + Salaries and wages expenses]
= [$20,100 + $16,000] – [$820 + $14,900]
= $36,100 - $15,720
= $20,380
Net Profit Margin
Net Profit Margin = [Net Income / Total revenues] x 100
= [$20,380 / $36,100] x 100
= 56.45%
Add Answer to:
what is the preliminary net income and net profit margin
(Sarma Saving Prepare an unadjusted trial...
what is the preliminary net income and net profit margain? SPICEWOOD STABLES, INC. Unadjusted Trial Balance...
what is the preliminary net income and net profit
margain?
SPICEWOOD STABLES, INC. Unadjusted Trial Balance At April 30 Debit Credit Cash 24 162,090 Accounts Receivable 17,960 Supplies 5,200 Prepaid Insurance 6,300 Buildings 149,000 Accounts Payable 3,960 Deferred Revenue 3,050 Notes Payable (long-term) 74,500 Common Stock 240,000 Service Revenue 20,100 Rent Revenue 16,000 Utilities Expense 2,160 Salaries and Wages Expense 14,900 Total 357.610 357.610 Req 2 < Prev 2 of 4
Refer to the revenues and expenses shown on the unadjusted trial balance. Based on this information,...
Refer to the revenues and expenses shown on the unadjusted trial
balance. Based on this information, calculate preliminary net
income and net profit margin.
Complete this question by entering your answers in the tabs below. 50 Req 1 Reg 2 Req3 Req 4A Req 4B points Prepare an unadjusted trial balance as of April 30. eBook Credit Print SPICEWOOD STABLES, INC. Unadjusted Trial Balance At April 30 Debit Cash $ 162,090 Accounts Receivable 17,960 Supplies 5,200 Prepaid Insurance 6,300 Buildings...
PA3-3 Analyzing the Effects of Transactions Using T-Accounts, Preparing an Unadjusted Trial Balance, and Determining Net...
PA3-3 Analyzing the Effects of Transactions Using T-Accounts, Preparing an Unadjusted Trial Balance, and Determining Net Income and Net Profit Margin [LO 3-1, LO 3-2, LO 3-3, LO 3-4, LO 3-5] Spicewood Stables, Inc., was established in Dripping Springs, Texas, on April 1. The company provides stables, care for animals, and grounds for riding and showing horses. You have been hired as the new assistant controller. The following transactions for April are provided for your review. Received contributions from investors...
RE Spicewood Stables, Inc., was established in Dripping Springs, Texas, on April 1. The company provides...
RE Spicewood Stables, Inc., was established in Dripping Springs, Texas, on April 1. The company provides stables, care for animals, and grounds for riding and showing horses. You have been hired as the new assistant controller. The following transactions for April are provided for your review. a. Received contributions from investors and issued $200,000 of common stock on April 1. b. Acquired a barn for $142,000. On April 2, the company paid half the amount in cash and signed a...
Spicewood Stables, Inc., was established in Dripping Springs, Texas, on April 1. The company provides stables,...
Spicewood Stables, Inc., was established in Dripping Springs, Texas, on April 1. The company provides stables, care for animals, and grounds for riding and showing horses. You have been hired as the new assistant controller. The following transactions for April are provided for your review. a. Received contributions from investors and issued $210,000 of common stock on April 1. b. Acquired a barn for $140,000. On April 2, the company paid half the amount in cash and signed a three-year...
Spicewood Stables, Inc., was established in Dripping Springs, Texas, on April 1. The company provides stables,...
Spicewood Stables, Inc., was established in Dripping Springs, Texas, on April 1. The company provides stables, care for animals, and grounds for riding and showing horses. You have been hired as the new assistant controller. The following transactions for April are provided for your review. a. Received contributions from investors and issued $230,000 of common stock on April 1. b. Acquired a barn for $180,000. On April 2, the company paid half the amount in cash and signed a three-year...
Spicewood Stables, Inc., was established in Dripping Springs, Texas, on April 1. The company provides stables,...
Spicewood Stables, Inc., was established in Dripping Springs,
Texas, on April 1. The company provides stables, care for animals,
and grounds for riding and showing horses. You have been hired as
the new assistant controller. The following transactions for April
are provided for your review.
Received contributions from investors and issued $200,000 of
common stock on April 1.
Acquired a barn for $142,000. On April 2, the company paid half
the amount in cash and signed a three-year note payable...
I need help filling out the rest of this please Spicewood Stables, Inc., was established in...
I need help filling out the rest of this please
Spicewood Stables, Inc., was established in Dripping Springs, Texas, on April 1. The company provides stables, care for animals, and grounds for riding and showing horses. You have been hired as the new assistant controller. The following transactions for April are provided for your review. a. Received contributions from investors and issued $230,000 of common stock on April 1. b. Acquired a barn for $180.000. On April 2. the company...
6 PA3-3 Analyzing the Effects of Transactions Using T-Accounts, Preparing an Unadjusted Trial Balance, and Determining...
6 PA3-3 Analyzing the Effects of Transactions Using T-Accounts, Preparing an Unadjusted Trial Balance, and Determining Net Income and Net Profit Margin (LO 3-1, LO 3-2, LO 3-3, LO 3-4, LO 3-5) 0 onts Spicewood Stables, Inc., was established in Dripping Springs, Texas, on April 1. The company provides stables, care for animals, and grounds for riding and showing horses. You have been hired as the new assistant controller. The following transactions for April are provided for your review. eBook...
Spicewood Stables, Inc., was established in Dripping Springs, Texas, on April 1. The company provides stables,...
Spicewood Stables, Inc., was established in Dripping Springs,
Texas, on April 1. The company provides stables, care for animals,
and grounds for riding and showing horses. You have been hired as
the new assistant controller. The following transactions for April
are provided for your review.
Received contributions from investors and issued $240,000 of
common stock on April 1.
Acquired a barn for $149,000. On April 2, the company paid half
the amount in cash and signed a three-year note payable...
what is the preliminary net income and net profit
margain?
SPICEWOOD STABLES, INC. Unadjusted Trial Balance At April 30 Debit Credit Cash 24 162,090 Accounts Receivable 17,960 Supplies 5,200 Prepaid Insurance 6,300 Buildings 149,000 Accounts Payable 3,960 Deferred Revenue 3,050 Notes Payable (long-term) 74,500 Common Stock 240,000 Service Revenue 20,100 Rent Revenue 16,000 Utilities Expense 2,160 Salaries and Wages Expense 14,900 Total 357.610 357.610 Req 2 < Prev 2 of 4
Refer to the revenues and expenses shown on the unadjusted trial
balance. Based on this information, calculate preliminary net
income and net profit margin.
Complete this question by entering your answers in the tabs below. 50 Req 1 Reg 2 Req3 Req 4A Req 4B points Prepare an unadjusted trial balance as of April 30. eBook Credit Print SPICEWOOD STABLES, INC. Unadjusted Trial Balance At April 30 Debit Cash $ 162,090 Accounts Receivable 17,960 Supplies 5,200 Prepaid Insurance 6,300 Buildings...
RE Spicewood Stables, Inc., was established in Dripping Springs, Texas, on April 1. The company provides stables, care for animals, and grounds for riding and showing horses. You have been hired as the new assistant controller. The following transactions for April are provided for your review. a. Received contributions from investors and issued $200,000 of common stock on April 1. b. Acquired a barn for $142,000. On April 2, the company paid half the amount in cash and signed a...
Spicewood Stables, Inc., was established in Dripping Springs, Texas, on April 1. The company provides stables, care for animals, and grounds for riding and showing horses. You have been hired as the new assistant controller. The following transactions for April are provided for your review. a. Received contributions from investors and issued $210,000 of common stock on April 1. b. Acquired a barn for $140,000. On April 2, the company paid half the amount in cash and signed a three-year...
Spicewood Stables, Inc., was established in Dripping Springs, Texas, on April 1. The company provides stables, care for animals, and grounds for riding and showing horses. You have been hired as the new assistant controller. The following transactions for April are provided for your review. a. Received contributions from investors and issued $230,000 of common stock on April 1. b. Acquired a barn for $180,000. On April 2, the company paid half the amount in cash and signed a three-year...
Spicewood Stables, Inc., was established in Dripping Springs,
Texas, on April 1. The company provides stables, care for animals,
and grounds for riding and showing horses. You have been hired as
the new assistant controller. The following transactions for April
are provided for your review.
Received contributions from investors and issued $200,000 of
common stock on April 1.
Acquired a barn for $142,000. On April 2, the company paid half
the amount in cash and signed a three-year note payable...
I need help filling out the rest of this please
Spicewood Stables, Inc., was established in Dripping Springs, Texas, on April 1. The company provides stables, care for animals, and grounds for riding and showing horses. You have been hired as the new assistant controller. The following transactions for April are provided for your review. a. Received contributions from investors and issued $230,000 of common stock on April 1. b. Acquired a barn for $180.000. On April 2. the company...
6 PA3-3 Analyzing the Effects of Transactions Using T-Accounts, Preparing an Unadjusted Trial Balance, and Determining Net Income and Net Profit Margin (LO 3-1, LO 3-2, LO 3-3, LO 3-4, LO 3-5) 0 onts Spicewood Stables, Inc., was established in Dripping Springs, Texas, on April 1. The company provides stables, care for animals, and grounds for riding and showing horses. You have been hired as the new assistant controller. The following transactions for April are provided for your review. eBook...
Spicewood Stables, Inc., was established in Dripping Springs,
Texas, on April 1. The company provides stables, care for animals,
and grounds for riding and showing horses. You have been hired as
the new assistant controller. The following transactions for April
are provided for your review.
Received contributions from investors and issued $240,000 of
common stock on April 1.
Acquired a barn for $149,000. On April 2, the company paid half
the amount in cash and signed a three-year note payable...
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