Balance Sheets, Net Income Financial information related to the corporation of Ebony Interiors for February and...
Balance Sheets, Net Income
Financial information related to the corporation of Ebony Interiors for February and March 2018 is as follows:
| February 28, 2018 | March 31, 2018 | |||
| Cash | 139,600 | 237,000 | ||
| Accounts receivable | 79,100 | 90,900 | ||
| Supplies | 7,000 | 5,800 | ||
| Accounts payable | $35,800 | $38,700 | ||
| Common stock | 130,000 | 130,000 | ||
| Retained earnings | ? | ? | ||
a. Prepare balance sheets for Ebony Interiors as of February 28, 2018.
| Ebony Interiors | ||
| Balance Sheet | ||
| February 28, 2018 | ||
| Assets | ||
| $ | ||
| Total assets | $ | |
| Liabilities | ||
| $ | ||
| Stockholders' Equity | ||
| $ | ||
| Total stockholders' equity | ||
| Total liabilities and stockholders' equity | $ | |
Prepare balance sheets for Ebony Interiors as of March 31, 2018.
| Ebony Interiors | ||
| Balance Sheet | ||
| March 31, 2018 | ||
| Assets | ||
| $ | ||
| Total assets | $ | |
| Liabilities | ||
| $ | ||
| Stockholders' Equity | ||
| $ | ||
| Total stockholders' equity | ||
| Total liabilities and stockholders' equity | $ | |
b. Determine the amount of net income for
March, assuming that no additional common stock was issued and no
dividends were paid during the month.
$
c. Determine the amount of net income for
March, assuming that no additional common stock was issued, but
dividends of $29,000 were paid during the month.
$
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Balance Sheets, Net Income
Financial information related to the corporation of Ebony
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Balance Sheets, Net Income Financial information related to the corporation of Ebony Interiors for February and...
Balance Sheets, Net Income Financial information related to the corporation of Ebony Interiors for February and March 2018 is as follows: February 28, 2018 March 31, 2018 Cash 139,600 237,000 Accounts receivable 79,100 90,900 Supplies 7,000 5,800 Accounts payable $35,800 $38,700 Common stock 130,000 130,000 Retained earnings ? ? b. Determine the amount of net income for March, assuming that no additional common stock was issued and no dividends were paid during the month. $ c. Determine the amount of...
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please answer all the questions!! they are short questions!
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