the following items were taken from the financial statements of Pronghorn Company for the year ending...
the following items were taken from the financial
statements of Pronghorn Company for the year ending December
31,2022
Accounts Payable:$18,000
Accounts Recievable:$7,000
Accumulated depreciation- Equipment:$5,200
Bonds Payable:$17,000
Cash: 24,000
Common Stock: $26,900
Cost of Goods sold:$28,500
Depreciation Expense:$5,700
Dividends:$5,000
Equipment:$ 40,000
Interest Expense:$2,500
Patents:$10,565
Retained Earnings January 1,2022: $10,925
Salaries and wages expense: 6,100
Sales Revenue$53,100
Supplies:$1,760
prepare and income statement.. part 1. this question is in 3
parts.
Homework Answers
rate posiitvely ..
| Computation of income statement | ||||
| Sales Revenue | 53,100 | |||
| Less | Cost of Goods sold: | $28,500 | ||
| Gross profit | $24,600 | |||
| Less | Depreciation Expense: | $5,700 | ||
| Less | Salaries and wages expense: | 6,100 | ||
| Earning before interest \ | 12,800 | |||
| Less | Interest Expense: | $2,500 | ||
| Net income | $10,300 | |||
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the following items were taken from the financial
statements of Pronghorn Company for the year ending...
the following items were taken from the financial statements of the Pronghorn company the year ending...
the following items were taken from the financial statements of the Pronghorn company the year ending in December 31,2022 Accounts Payable:$18,000 Accounts receivable 7,000 Accumulated depreciation- equipment: 5,200 bonds payable:17,000 cash:24,000 common stock 26,900 cost of goods sold: 28,500 depreciation expense: 5,700 Dividends:5,000 Equipment: 40,000 Interest Expense:2,500 patents: 10,565 retained earnings january 1,2022 salaries and wages expense: 6,100 sales revenue: 53,100 supplies: 1,760 Create a Balance sheet. retained earnings, january 1,2022: 10,925
The following items are taken from the financial statements of Grove Company for 2017: Accounts...
The following items are taken from the financial statements of Grove Company for 2017: Accounts payable $18,500 Accounts receivable 8,000 Accumulated depreciation-equipment 4,800 Bonds payable 18,000 Cash 24,000 Common stock 25,000 Cost of goods sold 27,000 Depreciation expense 4,800 Dividends 5,300 Equipment 44,000 Interest expense 2,500 Patents 7,500 Retained earnings, January 1 16,000 Salaries and wages expense 5,200 Sales revenue 50,500 Supplies 4,500 Instructions...
for my previous question current ratio, debt to asset ratio, working capital and earnings per share...
for my previous question current ratio, debt to asset
ratio, working capital and earnings per share value?
note that the outstanding shares during the year was
5,000
salaries and wages expense 6,100
sales revenue53,100
supplies 1,760
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The following items are taken from the financial statements of Smith Company for 2020: Accounts payable &
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acct hw help
QUESTION 28 The following items are taken from the financial statements of Grove Company for 2014: Accounts payable $18,500 Accounts receivable 8,000 Accumulated depreciation-equipment 4,800 Bonds payable 18,000 Cash 24,000 Short-term Investment 10,000 Common stock 25,000 Cost of goods sold 27,000 Depreciation expense 4,800 Dividends 5,300 Equipment 44,000 Interest expense 2,500 Patents 7,500 Retained earnings, January 1 16,000 Salaries and wages expense 5,200 Sales revenue 50,500 Supplies 4,500 Please compute current ration (rounded in two decimal places)....
The following items are taken from the financial statements of the Pronghorn Service for the year...
The following items are taken
from the financial statements of the Pronghorn Service for the year
ending December 31, 2018: Accounts payable $ 17700 Accounts
receivable 11000 Accumulated depreciation – equipment 27900
Advertising expense 21400 Cash 14900 Common stock 41400 Dividends
14100 Depreciation expense 12300 Insurance expense 3100 Note
payable, due 6/30/19 70200 Prepaid insurance (12-month policy) 6200
Rent expense 17000 Retained earnings (1/1/18) 60550 Salaries and
wages expense 32700 Service revenue 134200 Supplies 3900 Supplies
expense 6100 Equipment 209250...
24. The following items are taken from the financial statements of the Postal Service for the...
24. The following items are taken from the financial statements of the Postal Service for the year ending December 31, 2020: Accounts payable $ 18,000 Accounts receivable 11,000 Accumulated depreciation - equipment 28,000 Advertising expense 21,000 Cash 15,000 Common stock 42,000 Dividends 14,000 Depreciation expense 12,000 Equipment 210,000 Insurance expense 3,000 Note payable, due 6/30/21 70,000 Prepaid insurance (12-month policy) 6,000 Rent expense 17,000 Retained earnings (1/1/20) 60,000 Salaries and wages expense 32,000 Service revenue 133,000 Supplies 4,000 Supplies expense...
24. The following items are taken from the financial statements of the Postal Service for the...
24. The following items are taken from the financial statements of the Postal Service for the year ending December 31, 2020: Accounts payable $ 18,000 Accounts receivable 11,000 Accumulated depreciation - equipment 28,000 Advertising expense 21,000 Cash 15,000 Common stock 42,000 Dividends 14,000 Depreciation expense 12,000 Equipment 210,000 Insurance expense 3,000 Note payable, due 6/30/21 70,000 Prepaid insurance (12-month policy) 6,000 Rent expense 17,000 Retained earnings (1/1/20) 60,000 Salaries and wages expense 32,000 Service revenue 133,000 Supplies 4,000 Supplies expense...
The following items are taken from the financial statements of Hannah Co. for the year ending...
The following items are taken from the financial statements of Hannah Co. for the year ending December 31, 2019 Accounts Payable 20,000 Accounts Receivable 9,000 Accumulated Depreciation 28,000 Cash 15,000 Common Stock 44,000 Cost of Goods Sold 40,000 Depreciation Expense 12,000 Dividends 14,000 Equipment 150,000 Insurance Expense 3,000 4,000 Inventory Note Payable, due 5/30/20 10,000 Prepaid Insurance 6,000 Retained Earnings 1/1/19 60,000 Salaries Expense 52,000 Sales Revenue 143,000 1) What is the gross profit ratio? 2) Is the company profitable?...
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for my previous question current ratio, debt to asset
ratio, working capital and earnings per share value?
note that the outstanding shares during the year was
5,000
salaries and wages expense 6,100
sales revenue53,100
supplies 1,760
A B - Documenti Word nsert Draw Design Layout References Mailings Review View Help Table Design Layout Times New Rom -9 A A Aa A - E ALIT AaBbccc AaBbccDc AaBbcc AaBbcc BIU - ab X, X AP- A 1 Normal 1 No Spac......
acct hw help
QUESTION 28 The following items are taken from the financial statements of Grove Company for 2014: Accounts payable $18,500 Accounts receivable 8,000 Accumulated depreciation-equipment 4,800 Bonds payable 18,000 Cash 24,000 Short-term Investment 10,000 Common stock 25,000 Cost of goods sold 27,000 Depreciation expense 4,800 Dividends 5,300 Equipment 44,000 Interest expense 2,500 Patents 7,500 Retained earnings, January 1 16,000 Salaries and wages expense 5,200 Sales revenue 50,500 Supplies 4,500 Please compute current ration (rounded in two decimal places)....
The following items are taken
from the financial statements of the Pronghorn Service for the year
ending December 31, 2018: Accounts payable $ 17700 Accounts
receivable 11000 Accumulated depreciation – equipment 27900
Advertising expense 21400 Cash 14900 Common stock 41400 Dividends
14100 Depreciation expense 12300 Insurance expense 3100 Note
payable, due 6/30/19 70200 Prepaid insurance (12-month policy) 6200
Rent expense 17000 Retained earnings (1/1/18) 60550 Salaries and
wages expense 32700 Service revenue 134200 Supplies 3900 Supplies
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24. The following items are taken from the financial statements of the Postal Service for the year ending December 31, 2020: Accounts payable $ 18,000 Accounts receivable 11,000 Accumulated depreciation - equipment 28,000 Advertising expense 21,000 Cash 15,000 Common stock 42,000 Dividends 14,000 Depreciation expense 12,000 Equipment 210,000 Insurance expense 3,000 Note payable, due 6/30/21 70,000 Prepaid insurance (12-month policy) 6,000 Rent expense 17,000 Retained earnings (1/1/20) 60,000 Salaries and wages expense 32,000 Service revenue 133,000 Supplies 4,000 Supplies expense...
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