Homework Answers
| Answer | ||
|
Prepare income statement : |
||
| Service revenue | $ 71,000 | |
| Less-Expenses | ||
| Postage expense | $ 1,100 | |
| Supplies expense | $ 10,000 | |
| Legal fees expenses | $ 2,100 | |
| Rent expenses | $ 10,000 | |
| Salaries expenses | $ 19,000 | |
| Total expenses | $ 42,200 | |
| Net income | $ 28,800 | |
| Prepare statement of stockholder's equity : | |||
| Common stock | Retained earnings | Total stockholder's equity | |
| Beginning balance | $ 150,000 | $ 26,000 | $ 176,000 |
| Issuance of common stock | $ 20,000 | $ 20,000 | |
| Add:Net income | $ 28,800 | $ 28,800 | |
| Less: Dividends | -$ 10,000 | -$ 10,000 | |
| Ending balance | $ 170,000 | $ 44,800 | $ 214,800 |
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On December 31, Fighting Okra Cooking Services reports the following revenues and expenses. Service revenue Postage...
On December 31, Fighting Okra Cooking Services reports the following revenues and expenses. On December 31,...
On December 31, Fighting Okra Cooking Services reports the
following revenues and expenses.
On December 31, Fighting Okra Cooking Services reports the following revenues and expenses. $ Service revenue Postage expense Legal fees expense Rent expense Salaries expense Supplies expense 85,000 2,000 2,900 11,600 34,000 19,500 In addition, the balance of common stock at the beginning of the year was $700,000, and the balance of retained earnings was $52,000. During the year, the company issued additional shares of common stock...
On December 31, 2021, Fighting Okra Cooking Services reports the following revenues and expenses. Service revenue...
On December 31, 2021, Fighting Okra Cooking Services reports the following revenues and expenses. Service revenue Postage expense Legal fees expense $82,000 1,850 2,750 Rent expense Salaries expense Supplies expense 11,300 31,000 18,000 In addition, the balance of common stock at the beginning of the year was $550,000, and the balance of retained earnings was $46,000. During the year, the company issued additional shares of common stock for $32,000 and paid dividends of $24,000. Required: 1. Prepare an income statement....
On December 31, 2021, Fighting Okra Cooking Services reports the following revenues and expenses. Service revenue...
On December 31, 2021, Fighting Okra Cooking Services reports the following revenues and expenses. Service revenue Postage expense Legal fees expense $89,000 2,200 3,100 12,000 38,000 21,500 Rent expense Salaries expense Supplies expense In addition, the balance of common stock at the beginning of the year was $900,000, and the balance of retained earnings was $60,000. During the year, the company issued additional shares of common stock for $39,000 and paid dividends of $38,000. Required: 1. Prepare an income statement....
On December 31, 2021. Fighting Okra Cooking Services reports the following revenues and expenses $ 714...
On December 31, 2021. Fighting Okra Cooking Services reports the following revenues and expenses $ 714 Doncs $75,000 1. CO 2.400 Service Tevenue Portare expense Legal fest expense Rent expense Salute expense Supplies expense 10.000 26.000 14.500 In addition, the balance of common stock at the beginning of the year was $200,000, and the balance of retained earnings was $32,000. During the year, the company issued additional shares of common stock for $25.000 and paid dividends of $10,000 Required: erences...
Saved Help Save & E Chec On December 31, 2021, Fighting Okra Cooking Services reports the...
Saved Help Save & E Chec On December 31, 2021, Fighting Okra Cooking Services reports the following revenues and expenses. Service revenue Postage expense Legal fees expense points $76,000 1,550 2,450 Rent expense Salaries expense Supplies expense 10,700 25,000 15,000 18 02:54:32 brir w In addition, the balance of common stock at the beginning of the year was $250,000, and the balance of retained earnings was $34,000. During the year, the company issued additional shares of common stock for $26,000...
Accounting
On December 31, 2021 fighting okra cooking service reports the following revenues and expenses: Service Revenue 74,000 Postage expense 1400, legal fees 2400, rent Expense 16600, salaries expense 22,000, supplies expense 16000. in addition the balance of common stock at the beginning of the year was 165,000 and the balance of retained earnings was 32000. During the. Year the company issued additional shares of common stock for $26,000 and paid dividends of 16000 prepare an income statement and a statement...
Let's Review On December 31, Wortham Services reports the following year-end amounts. Assets:Cash $11,000 Revenues: Service...
Let's Review On December 31, Wortham Services reports the following year-end amounts. Assets:Cash $11,000 Revenues: Service $85,000 Accts. rec. Buildings 19,000 32,000 Expenses: Advertising 12,000 Insurance 18,000 44,000 Liabilities: Salaries payable 5,000 Notes payable 20,000 Salaries Additional information: a. The balance of retained earnings at the beginning of the year is $6,000. b. The company pays dividends of $5,000 on December 31. c. Common stock is $20,000 at the beginning of the year, and $5,000 of additional shares are issued...
calculate the missing amounts 39,000 BULLDOG, INC. Income Statement Revenues Expenses: Salaries Advertising Utilities Net income...
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 6,000 6,000 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 Sh Liabilities 4,000 Accounts payable 3,000 Stockholders' Equity 9,000 Common...
BULLDOG, INC. Income Statement Revenues S 29,500 Expenses Salaries Advertising Utilities 4,100 2,100 Net income BULLDOG,...
BULLDOG, INC. Income Statement Revenues S 29,500 Expenses Salaries Advertising Utilities 4,100 2,100 Net income BULLDOG, INC. Statement of Stockholders' Equity Total Common Retained Stock Earnings Stockholders Equity Beginning balance $ 8,100 Issuances Add: Net income Less: Dividends Ending balance 5,100$ 13,200 1,100 1,100 (1,100) (1,100) 17,300 9,200S 8,100 $ BULLDOG, INC Balance Sheet Assets Liabilities $ 2,100 Accounts payable Cash Accounts receivable Supplies Equipment 2,650 Stockholders' Equity 오 | 7,100|Common stock 8,100 Retained eamings Total assets S 19950 Total...
Salsa Inc Income Statement For the month ended August 31,20X1 Service revenue Expenses Salaries expense Rent...
Salsa Inc Income Statement For the month ended August 31,20X1 Service revenue Expenses Salaries expense Rent expense Interest expense Utilities expense Other expense $ 50,000 10,000 5,000 4,000 8,000 Total expenses Net Income $_200,000 Salsa Inc. Statement of Stockholders' Equity For the month ended August 31,20X1 Common Stock $ 20,000 8,000 Retained Earnings $ 19,000 Total Stockholders' Equity Beginning balances - Aug 1 Add: New stock issuances Add: Net income Less: Dividends $ 39,000 8,000 200,000 200,000 Ending balances -...
On December 31, Fighting Okra Cooking Services reports the
following revenues and expenses.
On December 31, Fighting Okra Cooking Services reports the following revenues and expenses. $ Service revenue Postage expense Legal fees expense Rent expense Salaries expense Supplies expense 85,000 2,000 2,900 11,600 34,000 19,500 In addition, the balance of common stock at the beginning of the year was $700,000, and the balance of retained earnings was $52,000. During the year, the company issued additional shares of common stock...
On December 31, 2021, Fighting Okra Cooking Services reports the following revenues and expenses. Service revenue Postage expense Legal fees expense $82,000 1,850 2,750 Rent expense Salaries expense Supplies expense 11,300 31,000 18,000 In addition, the balance of common stock at the beginning of the year was $550,000, and the balance of retained earnings was $46,000. During the year, the company issued additional shares of common stock for $32,000 and paid dividends of $24,000. Required: 1. Prepare an income statement....
On December 31, 2021, Fighting Okra Cooking Services reports the following revenues and expenses. Service revenue Postage expense Legal fees expense $89,000 2,200 3,100 12,000 38,000 21,500 Rent expense Salaries expense Supplies expense In addition, the balance of common stock at the beginning of the year was $900,000, and the balance of retained earnings was $60,000. During the year, the company issued additional shares of common stock for $39,000 and paid dividends of $38,000. Required: 1. Prepare an income statement....
On December 31, 2021. Fighting Okra Cooking Services reports the following revenues and expenses $ 714 Doncs $75,000 1. CO 2.400 Service Tevenue Portare expense Legal fest expense Rent expense Salute expense Supplies expense 10.000 26.000 14.500 In addition, the balance of common stock at the beginning of the year was $200,000, and the balance of retained earnings was $32,000. During the year, the company issued additional shares of common stock for $25.000 and paid dividends of $10,000 Required: erences...
Saved Help Save & E Chec On December 31, 2021, Fighting Okra Cooking Services reports the following revenues and expenses. Service revenue Postage expense Legal fees expense points $76,000 1,550 2,450 Rent expense Salaries expense Supplies expense 10,700 25,000 15,000 18 02:54:32 brir w In addition, the balance of common stock at the beginning of the year was $250,000, and the balance of retained earnings was $34,000. During the year, the company issued additional shares of common stock for $26,000...
Let's Review On December 31, Wortham Services reports the following year-end amounts. Assets:Cash $11,000 Revenues: Service $85,000 Accts. rec. Buildings 19,000 32,000 Expenses: Advertising 12,000 Insurance 18,000 44,000 Liabilities: Salaries payable 5,000 Notes payable 20,000 Salaries Additional information: a. The balance of retained earnings at the beginning of the year is $6,000. b. The company pays dividends of $5,000 on December 31. c. Common stock is $20,000 at the beginning of the year, and $5,000 of additional shares are issued...
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 6,000 6,000 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 Sh Liabilities 4,000 Accounts payable 3,000 Stockholders' Equity 9,000 Common...
BULLDOG, INC. Income Statement Revenues S 29,500 Expenses Salaries Advertising Utilities 4,100 2,100 Net income BULLDOG, INC. Statement of Stockholders' Equity Total Common Retained Stock Earnings Stockholders Equity Beginning balance $ 8,100 Issuances Add: Net income Less: Dividends Ending balance 5,100$ 13,200 1,100 1,100 (1,100) (1,100) 17,300 9,200S 8,100 $ BULLDOG, INC Balance Sheet Assets Liabilities $ 2,100 Accounts payable Cash Accounts receivable Supplies Equipment 2,650 Stockholders' Equity 오 | 7,100|Common stock 8,100 Retained eamings Total assets S 19950 Total...
Salsa Inc Income Statement For the month ended August 31,20X1 Service revenue Expenses Salaries expense Rent expense Interest expense Utilities expense Other expense $ 50,000 10,000 5,000 4,000 8,000 Total expenses Net Income $_200,000 Salsa Inc. Statement of Stockholders' Equity For the month ended August 31,20X1 Common Stock $ 20,000 8,000 Retained Earnings $ 19,000 Total Stockholders' Equity Beginning balances - Aug 1 Add: New stock issuances Add: Net income Less: Dividends $ 39,000 8,000 200,000 200,000 Ending balances -...
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