Homework Answers
Retained Earnings (RE) = Beginning Period RE + Net Income (Loss) –Dividends
The balance of Retained earning $9.0 come from statement of profit and loss account.
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Linkworks Company Balance Sheet April 30, 2017 Assets 5 $59,909 490 200 14000 9000 34.000 125599...
PLEASE ANSWER THE INCOME STATEMENT AND BALANCE SHEET AND IMPACT ON INCOME!!!!! Karla Tanner opened a...
PLEASE ANSWER THE INCOME STATEMENT AND BALANCE SHEET AND IMPACT
ON INCOME!!!!!
Karla Tanner opened a web consulting business called Linkworks
and recorded the following transactions in its first month of
operations.
Apr.
1
Tanner invests $80,000 cash along with office equipment valued
at $26,000 in the company in exchange for common stock.
Apr.
2
The company prepaid $9,000 cash for twelve months’ rent for
office space. The company's policy is record prepaid expenses in
balance sheet accounts.
Apr.
3...
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018 Assets 2017...
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018 Assets 2017 Current assets Cash Accounts receivable Inventory $ 6,600 12,200 78,200 $ 97,000 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 2018 Current liabilities $ 12.750 Accounts payable $50,000 $ 68,750 14250 Notes payable 19,000 35,500 95,250 $122,250 Total $ 69,000 $104,250 Long-term debt $ 48,000 $ 45,000 Total Owners' equity Common stock and paid in $ 50,000...
Recent financial statements for Madison Company follow: Madison Company Balance Sheet June 30 Assets Current assets:...
Recent financial statements for Madison Company follow: Madison Company Balance Sheet June 30 Assets Current assets: Cash $ 21,000 Accounts receivable, net 160,000 Merchandise inventory 300,000 Prepaid expenses 9,000 Total current assets 490,000 Plant and equipment, net 810,000 Total assets $ 1,300,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities $ 200,000 Bonds payable, 10% 300,000 Total liabilities 500,000 Stockholders’ equity: Common stock, $5 par value $ 100,000 Retained earnings 700,000 Total stockholders’ equity 800,000 Total liabilities and stockholders' equity $...
$ Minden Company Balance Sheet April 30 Assets Cash Accounts receivable Inventory Buildings and equipment, net...
$ Minden Company Balance Sheet April 30 Assets Cash Accounts receivable Inventory Buildings and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Note payable Common stock Retained earnings Total liabilities and stockholders equity 12,000 77,500 42,000 225,000 356,500 $ $ 78,250 19,300 180,000 78,950 356,500 $ The company is in the process of preparing a budget for May and has assembled the following data: a. Sales are budgeted at $231,000 for May. Of these sales, $69,300...
Check my wol 10 Minden Company Balance Sheet April 30 Assets Cash Accounts receivable Inventory Buildings...
Check my wol 10 Minden Company Balance Sheet April 30 Assets Cash Accounts receivable Inventory Buildings and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Note payable Common stock Retained earnings Total liabilities and stockholders' equity $ 10,000 62,750 32,750 219,000 $ 324,500 points Skipped $ 69,000 22,700 180,000 52,800 $ 324,500 eBook Print The company is in the process of preparing a budget for May and has assembled the following data: References a. Sales are...
Sandhill Supply Company Balance Sheet as of June 30, 2017($ thousands) Assets: Liabilities and Equity: Cash...
Sandhill Supply Company Balance Sheet as of June 30, 2017($ thousands) Assets: Liabilities and Equity: Cash and marketable $396,000 Accounts payable $820,000 109,000 41,300 $970,300 1,177,000 $2,147,300 1,318,000 819,100 $2,137,100 $4,284,400 securities Accounts receivable Inventory Other current assets 711,200 Notes payable 1,156,000Accrued income taxes 42,200 Total current liabilities Total current assets $2,305,400 Long-term debt Net plant and equipment Total liabilities Common stock Retained earnings 1,979,000 Total common equity Total assets $4,284,400 Total liabilities and equity Using the 2017 data for...
Minden Company is a wholesale distributor of premium European chocolates. The company’s balance sheet on April...
Minden Company is a wholesale distributor of premium European chocolates. The company’s balance sheet on April 30 is as follows: MINDEN COMPANY Balance Sheet April 30 Assets Cash $ 12,200 Accounts receivable, customers 58,000 Inventory 32,400 Buildings and equipment, net of depreciation 223,000 Total assets $ 325,600 Liabilities and Shareholders’ Equity Accounts payable, suppliers $ 67,800 Note payable 16,100 Capital shares, no par 196,000 Retained earnings 45,700 Total liabilities and shareholders’ equity $ 325,600 The company is in the process...
Minden Company is a wholesale distributor of premium European chocolates. The company’s balance sheet as of April 30 is...
Minden Company is a wholesale distributor of premium European chocolates. The company’s balance sheet as of April 30 is given below: Minden Company Balance Sheet April 30 Assets Cash $ 9,000 Accounts receivable 54,000 Inventory 30,000 Buildings and equipment, net of depreciation 207,000 Total assets $ 300,000 Liabilities and Stockholders’ Equity Accounts payable $ 63,000 Note payable 14,500 Common stock 180,000 Retained earnings 42,500 Total liabilities and stockholders’ equity $ 300,000 The company is in the process of preparing a...
Minden Company is a wholesale distributor of premium European chocolates. The company's balance sheet as of April 30 is...
Minden Company is a wholesale distributor of premium European chocolates. The company's balance sheet as of April 30 is given below: $ Minden Company Balance Sheet April 30 Assets Cash Accounts receivable Inventory Buildings and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Note payable Common stock Retained earnings Total liabilities and stockholders' equity 9,100 77,250 40,000 239,000 365,350 $ $ 79,750 12,300 180,000 93,300 365,350 $ The company is in the process of preparing a...
Balance Sheet April 30 Assets Cash $ 12,700 Accounts receivable 66,500 Inventory 48,500 Buildings and equipment,...
Balance Sheet April 30 Assets Cash $ 12,700 Accounts receivable 66,500 Inventory 48,500 Buildings and equipment, net of 229,000 depreciation Total assets $356,700 Liabilities and Stockholders' Equity Accounts payable $ 67,500 Note payable 19,100 Common stock 180,000 Retained earnings 90,100 Total liabilities and stockholders' equity $356,700 The company is in the process of preparing a budget for May and has assembled the following data: a. Sales are budgeted at $262.000 for May. Of these sales. $78,600 will be for cash;...
PLEASE ANSWER THE INCOME STATEMENT AND BALANCE SHEET AND IMPACT
ON INCOME!!!!!
Karla Tanner opened a web consulting business called Linkworks
and recorded the following transactions in its first month of
operations.
Apr.
1
Tanner invests $80,000 cash along with office equipment valued
at $26,000 in the company in exchange for common stock.
Apr.
2
The company prepaid $9,000 cash for twelve months’ rent for
office space. The company's policy is record prepaid expenses in
balance sheet accounts.
Apr.
3...
Just Dew It Corporation reports the following balance sheet information for 2017 and 2018 Assets 2017 Current assets Cash Accounts receivable Inventory $ 6,600 12,200 78,200 $ 97,000 JUST DEW IT CORPORATION 2017 and 2018 Balance Sheets Liabilities and Owners' Equity 2018 2017 2018 Current liabilities $ 12.750 Accounts payable $50,000 $ 68,750 14250 Notes payable 19,000 35,500 95,250 $122,250 Total $ 69,000 $104,250 Long-term debt $ 48,000 $ 45,000 Total Owners' equity Common stock and paid in $ 50,000...
$ Minden Company Balance Sheet April 30 Assets Cash Accounts receivable Inventory Buildings and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Note payable Common stock Retained earnings Total liabilities and stockholders equity 12,000 77,500 42,000 225,000 356,500 $ $ 78,250 19,300 180,000 78,950 356,500 $ The company is in the process of preparing a budget for May and has assembled the following data: a. Sales are budgeted at $231,000 for May. Of these sales, $69,300...
Check my wol 10 Minden Company Balance Sheet April 30 Assets Cash Accounts receivable Inventory Buildings and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Note payable Common stock Retained earnings Total liabilities and stockholders' equity $ 10,000 62,750 32,750 219,000 $ 324,500 points Skipped $ 69,000 22,700 180,000 52,800 $ 324,500 eBook Print The company is in the process of preparing a budget for May and has assembled the following data: References a. Sales are...
Sandhill Supply Company Balance Sheet as of June 30, 2017($ thousands) Assets: Liabilities and Equity: Cash and marketable $396,000 Accounts payable $820,000 109,000 41,300 $970,300 1,177,000 $2,147,300 1,318,000 819,100 $2,137,100 $4,284,400 securities Accounts receivable Inventory Other current assets 711,200 Notes payable 1,156,000Accrued income taxes 42,200 Total current liabilities Total current assets $2,305,400 Long-term debt Net plant and equipment Total liabilities Common stock Retained earnings 1,979,000 Total common equity Total assets $4,284,400 Total liabilities and equity Using the 2017 data for...
Minden Company is a wholesale distributor of premium European chocolates. The company's balance sheet as of April 30 is given below: $ Minden Company Balance Sheet April 30 Assets Cash Accounts receivable Inventory Buildings and equipment, net of depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Note payable Common stock Retained earnings Total liabilities and stockholders' equity 9,100 77,250 40,000 239,000 365,350 $ $ 79,750 12,300 180,000 93,300 365,350 $ The company is in the process of preparing a...
Balance Sheet April 30 Assets Cash $ 12,700 Accounts receivable 66,500 Inventory 48,500 Buildings and equipment, net of 229,000 depreciation Total assets $356,700 Liabilities and Stockholders' Equity Accounts payable $ 67,500 Note payable 19,100 Common stock 180,000 Retained earnings 90,100 Total liabilities and stockholders' equity $356,700 The company is in the process of preparing a budget for May and has assembled the following data: a. Sales are budgeted at $262.000 for May. Of these sales. $78,600 will be for cash;...
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