Homework Answers
Answer:
| Statement of Stockholder's Equity | |||
| For the Year Ended March 31 | |||
| Common stock | Retained Earnings | Total | |
| Balances, April 1 | $120,000 | $60,000 | $180,000 |
| Issued common stock | $25,000 | $25,000 | |
| Net income* | $47,630 | $47,630 | |
| Dividends | ($16,570) | ($16,570) | |
| Balances, March 31 | $145,000 | $91,060 | $236,060 |
*Calculations:
| Income Statement | ||
| Revenues: | ||
| Fees earned | 73,450 | |
| Expenses: | ||
| Miscellaneous expense | 1,030 | |
| Office expense | 1,240 | |
| Wages expense | 23,550 | |
| Total Expenses | 25,820 | |
| Net income | 47,630 | |
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Exam 1 Calculator Instructions Labels and Amount Descriptions Statement of Stockholders' Equity Instructions Labels and Amount...
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Question 1: Question 2: Exam 1 E Calculator Labels and Amount Descriptions Instructions Balance Sheet х...
Question 1:
Question 2:
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for the year are listed below. The capital of the owner was
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Thompson invested an additional $25,000 in the business during the
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Question 1:
Question 2:
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for the year are listed below. The capital of the owner was
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year. Accounts payable $ 2,000 Miscellaneous expense $ 1,030
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