Homework Answers
Answer
| Income Statement | ||
| for the year ended 31 Dec 2022 | ||
| Revenues: | ||
| Sales Revenue | $44,000 | |
| Expenses: | ||
| Interest expense | $2,000 | |
| Salaries & Wages expense | $15,000 | |
| Depreciation expense | $3,000 | |
| Supplies expenses | $700 | |
| Total expenses | $20,700 | |
| Net Income | $23,300 | |
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The following items and amounts were taken from Blossom Company's 2022 income statement and balance sheet,...
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The following items and amounts were taken from Oriole Company's 2022 income statement and balance sheet, the end of its first year of operations. $ 54,900 $ 2,500 Equipment, net Interest expense 800 Depreciation expense Interest payable 3,900 Notes payable 11,000 Supplies 4,700 Sales revenue 52,500 Common stock 21,200 Cash 3,600 Retained earnings Salaries and wages expense 15,000 Supplies expense 900 (a) In each case, identify whether the item is an asset, liability, stockholders' equity, revenue, or expense item. Interest...
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year of operations.
Interest expense
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Equipment, net
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Interest payable
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Depreciation expense
3,700
Notes payable
11,300
Supplies
4,500
Sales revenue
50,100
Common stock
23,550
Cash
3,400
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16,000
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create a statement:)
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The following items and amounts were taken from Sheridan Company's 2022 income statement and balance sheet, the end of its first year of operations. Interest expense Interest payable Notes payable Sales revenue Cash Salaries and wages expense $2,900 Equipment, net $ 56,800 650 Depreciation expense 3,200 12,000 Supplies 4,000 49,600 Common stock 26,750 3,900 Retained earnings 17,400 Supplies expense 800 (a) ✓ Your answer is correct. In each case, identify whether the item is an asset, liability, stockholders' equity, revenue,...
In Accountant
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The following items and amounts were taken from Carla Vista
Co.’s 2022 income statement and balance sheet, the end of its first
year of operations.
Interest expense
$ 2,100
Equipment, net
$ 55,100
Interest payable
800
Depreciation expense
3,700
Notes payable
11,300
Supplies
4,500
Sales revenue
50,100
Common stock
23,550
Cash
3,400
Retained earnings
?
Salaries and wages expense
16,000
Supplies expense
950
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