EYELASH EXTENSION COMPANY | |
Statement of Changes in Equity | |
For Year Ended June 30, 2017 | |
Jan Suzette, capital, June 30, 2016 | $4,88,000.00 |
Add: Profit (197100-48700-20075-6800-21700) | $99,825.00 |
Total | $5,87,825.00 |
Less: Withdrawals | $2,85,700.00 |
Jan Suzette, capital, June 30, 2017 | $3,02,125.00 |
EYELASH EXTENSION COMPANY | ||
Partial Balance Sheet | ||
June 30, 2017 | ||
Liabilities | ||
Current liabilities: | ||
Accounts payable (180100 + 16900) | $1,97,000.00 | |
Warranty liability | $48,700.00 | |
Property taxes payable | $20,075.00 | |
Interest payable | $6,800.00 | |
Unearned revenue | $21,700.00 | |
Total current liabilities | $2,94,275.00 | |
Non-current liabilities: | ||
Notes payable, due 2019 | $4,87,000.00 | |
Total liabilities | $7,81,275.00 |
Workings- Corrected Journnal Entry | |||
No. | Account Title | Debit | Credit |
a. | Warranty expense | $48,700.00 | |
Warranty liability | $48,700.00 | ||
b. | Property taxes expense | $20,075.00 | |
Property taxes payable | $20,075.00 | ||
($21900 x 11/12) | |||
c. | Interest expense | $6,800.00 | |
Interest payable | $6,800.00 | ||
($10200 x 2/3) | |||
d. | Office Furniture | $16,900.00 | |
Accounts payable | $16,900.00 | ||
e. | Sales revenue | $21,700.00 | |
Unearned revenue | $21,700.00 |
Eyelash Extension Company's liabilities as reported on the June 30, 2017, balance sheet are shown below,...
Thank you so much for answering ?!! Eyelash Extension Company's lablilbtes as reported on the sune 30,2017 balance sheet are shown below.,along with is statement of changes in equ Accounts payable Notes payable, due 2019 S 180,200 488,000 Total liabilities 668,200 Eyelash Extension Company Statement of Changes in Equity For Year Ended June 30, 2017 Jan Suzette, capital, June 30, 2016 Add: Prof S 489,000 97,200 Total Less: Wilhdrawals 686,200 285,800 Jan Suzette, capital, June 30, 2017 400,400 Jan is...
Sandhill Supply Company Balance Sheet as of June 30, 2017($ 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 $4,284,400 Total liabilities and equity Using the 2017 data for...
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The balance sheet and income statement for Cullumber Supply Company for the fiscal year ended June 30, 2017 is as follows Cullumber Supply Company Income Statement for the Fiscal Year Ended June 30, 2017($ thousands) Net sales Cost of goods sold Selling and administrative expenses Nonrecurring expenses Earnings before interest, taxes, depreciation, and amortization (EBITDA) Depreciation Earnings before interest and taxes (EBIT) Interest expense Earnings before taxes (EBT) Taxes (35%) Net income $2,133,900 1,459,400 313,000 27,600 $333,900 112,150 221,750 117,650...
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