DONAVAN, INC. | |
INCOME STATEMENT | |
Particulars | Amount |
Revenues | 85,000 |
Cost of goods sold | -55,000 |
Salaries and Wages Expense | -10,000 |
Net Income | 20,000 |
Cost of Goods sold = Revenue - Net Income - Salaries | |
DONAVAN, INC. | |
RETAINED EARNINGS STATEMENT | |
Particulars | Amount |
Beginning retained earnings | 12,000 |
Add: Net Income (b/f) | 20,000 |
Less: Dividends | -5,000 |
Ending retained earnings | 27,000 |
Net Income = Ending retained earnings + Dividends - Beginning Inventory |
DONAVAN, INC. | |||
Assets | Liabilities & Stock Holders Equity | ||
Cash | 7,000 | Liabilities | |
Inventory | 10,000 | Accounts Payable | 5,000 |
Buildings | 45,000 | Stock Holders Equity | |
Common Stock | 30,000 | ||
Retained Earnings | 27,000 | ||
Total Assets | 62,000 | Total Liabilities & Stock Holders Equity | 62,000 |
E1-9 Here are incomplete financial statements for Donavan, Inc. DONAVAN, INC. Balance Sheet Liabilities and Stockholders'...
Calculate missing amounts E1-9 Here are incomplete financial statements for Donavan, Inc LO 3), AN DONAVAN, INC. Balance Sheet ssets Liabilities and Stockholders' Equity Cash Inventory Buildings 45,000 Stockholders' equity Total assets S62,000 $ 7,000 Liabilities 10,000 Accounts payable S 5,000 Common stock Retained earnings Total liabilities and stockholders' equity $62,000 Income Statement $85,000 Revenues Cost of goods sold Salaries and wages expense Net income 10,000 S (d) Retained Earnings Statement Beginning retained earnings S12,000 Add: Net income Less: Dividends...
* Exercise 1-9 Here are incomplete financial statements for Donavan, Inc. Calculate the missing amounts. Donavan, Inc. Balance Sheet Assets Cash Inventory $7,000 10,000 45,000 Buildings Total assets $62,000 Liabilities and Stockholders' Equity Liabilities $5,000 Accounts payable Stockholders' Equity Common stock Retained earnings Total liabilities and stockholders' equity $62,000 Donavan, Inc. Income Statement $85,000 Revenues Cost of goods sold (c) Salaries and wages expense (10,000) Net Income Donavan, Inc. Retained Earnings Statement Beginning retained earnings $12,000 Add: Net income Less:...
hi I need help with these questions... thanks DONAVAN, INC. Balance Sheet Liabilities and Stockholders' Equity Liabilities Assets Cash Inventory Buildings Total assets $ 7,000 10,000 45,000 $62,000 Accounts payable $ 5,000 Stockholders' equity Common stoc Retained earnings Total liabilities and stockholders' equity $62,000 Income Statement $85,000 Revenues Cost of goods sold Salaries and wages expense Net income 10,000 $ (d) Retained Earnings Statement Beginning retained earnings Add: Net income Less: Dividends $12,000 5,000 $27,000 Ending retained earnings Instructions Calculate...
Here are incomplete financial statements for Donavan, Inc. Calculate the missing amounts. DONAVAN, INC. Balance Sheet Cash Inventory Buildings Total assets $12,000 15,000 40,000 $67,000 Liabilities and Stockholders' Equity Liabilities $ 5,800 Accounts payable Stockholders' Equity Common stock Retained earnings Total liabilities and stockholders' equity $67,000 DONAVAN, INC. Income Statement Revenues $84,200 Cost of goods sold Salaries and wages expense 10,430 Net Income DONAVAN, INC Retained Earnings Statement $17,000 Beginning retained earnings Add: Net income Less: Dividends Ending retained earnings...
Here are incomplete financial statements for Donavan, Inc. Calculate the missing amounts. DONAVAN, INC. Balance Sheet Assets Cash $ 13,000 Inventory 16,000 Buildings 39,000 Total assets $68,000 Liabilities and Stockholders' Equity Liabilities Accounts payable $5,400 Stockholders' Equity Common stock @ Retained earnings @ Total liabilities and stockholders' equity $68,000 DONAVAN, INC. Income Statement Revenues $84,700 Cost of goods sold Salaries and wages expense 10,430 Net Income DONAVAN, INC. Retained Earnings Statement Beginning retained earnings $18,000 Add: Net income le) Less:...
Exercise 1-9 Here are incomplete financial statements for Donavan, Inc. Calculate the missing amounts. DONAVAN, INC. Balance Sheet Assets Cash $ 12,300 Inventory 15,300 Buildings 39,700 Total assets $67,300 Liabilities and Stockholders' Equity Liabilities Accounts payable $ 5,500 Stockholders' Equity Common stock Retained earnings (b) Total liabilities and stockholders' equity $67,300 DONAVAN, INC. Income Statement $85,900 Revenues Cost of goods sold Salaries and wages expense 10,310 Net Income DONAVAN, INC. Retained Earnings Statement Beginning retained earnings $17,300 Add: Net income...
DONAVAN, INC. Balance Sheet Assets Cash Inventory Buildings Total assets $12,000 15,000 40,000 $67,000 Liabilities and Stockholders' Equity Liabilities 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 10,430 Net Income DONAVAN, INC. Retained Earnings Statement $17,000 Beginning retained earnings Add: Net income Less: Dividends Ending retained earnings 4,610 $32,000
DONAVAN, INC. Balance Sheet Assets Cash Inventory Buildings Total assets $14,000 17,000 38,000 $69,000 Liabilities and Stockholders' Equity Liabilities Accounts payable Stockholders' Equity $5,600 Common stock Retained earnings Total liabilities and stockholders' equity $69,000 DONAVAN, INC. $85,400 Revenues Cost of goods sold Salaries and wages expense Net Income 10,270 DONAVAN, INC. Retained Earnings Statement Beginning retained earnings Add: Net income Less: Dividends Ending retained earnings $19,000 4,770
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
ileyPLUS upport DONAVAN, INC. Balance Sheet Assets Cash Inventory Buildings Total assets 12,900 15,900 39,100 $67,900 Liabilities and Stockholders' Equity Liabilities Accounts payable Stockholders' Equity $5,400 Common stock Retained earnings Total liabilities and stockholders' equity $ 67,900 DONAVAN, INC. Income Statement Revenues $85,200 DONAVAN, INC. Income Statement Revenues Cost of goods sold Salaries and wages expense Net Income $85,200 10.450 DONAVAN, INC. Retained Earnings Statement Beginning retained earnings Add: Net income Less: Dividends Ending retained earnings $32,900 $17,900 4,160 Send...