Question

BULLDOG, INC. Income Statement Revenues S 29,500 Expenses Salaries Advertising Utilities 4,100 2,100 Net income BULLDOG, INC. Statement of Stockholders Equity Total Common Retained Stock Earnings Stockholders Equity Beginning balance $ 8,100 Issuances Add: Net income Less: Dividends Ending balance 5,100$ 13,200 1,100 1,100 (1,100) (1,100) 17,300 9,200S 8,100 $
BULLDOG, INC Balance Sheet Assets Liabilities $ 2,100 Accounts payable Cash Accounts receivable Supplies Equipment 2,650 Stockholders Equity 오 | 7,100|Common stock 8,100 Retained eamings Total assets S 19950 Total liabilities and stockholders equity
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Answer:

First of all, Net Income is to be found.
Net Income is calculated as
Common Stock Retained Earning Total Stockholders' Equity
Beginning Balance                                  8,100                                            5,100              13,200
Issuance                                  1,100                                                  -                  1,100
Add: Net Income                      4,100 [Bal figure]                4,100
Less: Dividend                                           -1,100               -1,100
Ending Balance                                  9,200                                            8,100              17,300
Net Income = $5200
5,100 + x(Net Income) – 1,100 = 8,100
x = 8,100 + 1,100 – 5,100
x = 4,100
Once Net Income is calculated, figure for SALARIES is calculated as:
Revenues                                29,500
Expenses
Salaries[Bal figure: 29,500 – 4,100 – 2100 – 4100]                                19,200
Advertising                                  4,100
Utilities                                  2,100
Net Income                                  4,100
Bulldog Inc.
Balance Sheet
Assets Liabilities
Cash                    2,100 Accounts Payable [19,950 – 9200 – 8100]                2,650
Accounts Receivables                    2,650 Equity:
Supplies                    7,100 Common Stock [from above]                9,200
Equipment                    8,100 Retained Earnings [from above]                8,100
Total Assets                  19,950 Total Liabilities & Equity              19,950
Add a comment
Know the answer?
Add Answer to:
BULLDOG, INC. Income Statement Revenues S 29,500 Expenses Salaries Advertising Utilities 4,100 2,100 Net income BULLDOG,...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • calculate the missing amounts 39,000 BULLDOG, INC. Income Statement Revenues Expenses: Salaries Advertising Utilities Net income...

    calculate the missing amounts 39,000 BULLDOG, INC. Income Statement Revenues Expenses: Salaries Advertising Utilities Net income 6,000 4,000 BULLDOG, INC. Statement of Stockholders' Equity Total Common Retained Stockholders Stock Earnings Equity Beginning balance $ 10,000 $ 7,000 $ 17,000 Issuances 1,100 1,100 Add: Net income 6,000 6,000 Less: Dividends (3,000) (3.000) Ending balance $ 11,100 $ 10,000 $ 21,100 Assets Cash Accounts receivable Supplies Equipment Total assets BULLDOG, INC. Balance Sh Liabilities 4,000 Accounts payable 3,000 Stockholders' Equity 9,000 Common...

  • Problem 1-4A Understand the format of financial statements and the links among them (L01-3) Below are...

    Problem 1-4A Understand the format of financial statements and the links among them (L01-3) Below are incomplete financial statements for Bulldog, Inc. Required: Calculate the missing amounts. 29,500 BULLDOG, INC. Income Statement Revenues $ Expenses: Salaries Advertising Utilities 4,100 2,100 Net income BULLDOG, INC. Statement of Stockholders' Equity Common Retained Total Stockholders' Stock Earnings Equity Beginning balance $ 8,100 $ 5,100 $ 13,200 Issuances 1,100 1,100 Add: Net income Less: Dividends (1,100) (1,100) Ending balance $ 9,200 $ 8,100 $...

  • Required: Calculate the missing amounts. BULLDOG, INC. Income Statement Revenues Expenses: Salaries 36,000 5,400 3,400 Utilities...

    Required: Calculate the missing amounts. BULLDOG, INC. Income Statement Revenues Expenses: Salaries 36,000 5,400 3,400 Utilities Net income BULLDOG, INC. Statement of Stockholders' Equity Total Common Retained Stockholders' Stock Earnings Equity Beginning balance $ 9,400 S 6,400 S 15,800 Issuances 1,100 1,100 Add: Net income Less: Dividends (2,400) (2.400) Ending balance $ 10,500 $ 9,400 $ 19,900 Assets $ Cash Accounts receivable Supplies Equipment Total assets BULLDOG, INC. Balance Sheet Liabilities 3,400 Accounts payable 2,400 Stockholders' Equity 8,400 Common stock...

  • Below are incomplete financial statements for Bulldog, Inc. Required: Calculate the missing amounts. 39,000 BULLDOG, INC....

    Below are incomplete financial statements for Bulldog, Inc. Required: Calculate the missing amounts. 39,000 BULLDOG, INC. Income Statement Revenues $ Expenses: Salaries Advertising Utilities Net income 6,000 4,000 BULLDOG, INC. Statement of Stockholders' Equity Total Common Retained Stockholders' Stock Earnings Equity Beginning balance 10,000 $ 7,000 $ 17,000 Issuances 1,100 1,100 Add: Net income Less: Dividends (3.000) (3,000) Ending balance 11,100 $ 10,000 $ 21,100 Assets Cash Accounts receivable Supplies Equipment Total assets BULLDOG, INC. Balance Sheet Liabilities $ 4,000...

  • Required Calculate the missing amounts CYCLONE, INC. Income Statement Revenues Expenses Salaries Rent Advertising s 12,200...

    Required Calculate the missing amounts CYCLONE, INC. Income Statement Revenues Expenses Salaries Rent Advertising s 12,200 6,200 4,200 Net income CYCLONE, INC Statement of Stockholders' Equity Common Stock Retained Earnings Total Stockholders Equit Beginning balance$ Issuances of stock Add: Net income Less: Dividends Ending balance 13,200 $ 6,200 19,400 4,200 4,200 15,400 $ 7,200 $ 22,600 CYCLONE, INC Balance Sheet Assets Liabilities Cash Supplies Land Building 1,200 Accounts payable 3,200 Stockholders' Equity 5,200 Common stock 15,200Retained earnings Total assets Total...

  • п mapter 01 Homework A Saved Help Seve Problem 1-4A Understand the format of financial statements...

    п mapter 01 Homework A Saved Help Seve Problem 1-4A Understand the format of financial statements and the links among them (LO1-3) Below are incomplete financial statements for Bulldog, Inc. Ints Required: Calculate the missing amounts. Skipped BULLDOG, INC. eBook Income Statement Print Revenues %24 34,500 References Expenses: Salaries Advertising 5,100 Utilities 3,100 Net income < Prev 6 of 8 Next> raw cation 99+ e here to search BULLDOG, INC. Statement of Stockholders' Equity Common Stock Total Stockholders' Retained Earnings...

  • Accounts Cash Salaries expense Accounts payable Retained earnings Utilities expense Supplies Service revenue Common stock Balances...

    Accounts Cash Salaries expense Accounts payable Retained earnings Utilities expense Supplies Service revenue Common stock Balances $ 5,400 2,200 3,400 3,900 1,200 13,800 9,300 6,000 Required: Use only the appropriate accounts to prepare an income statement. COWBOY LAW FIRM Income Statement For the Period Ended December 31 Expenses: Total expenses Below are incomplete financial statements for Bulldog, Inc. Required: Calculate the missing amounts. BULLDOG, INC. Income Statement Revenues 39,000 Expenses: Salaries Advertising Utilities Net income 6,000 4.000 BULLDOG, INC. Statement...

  • Below are incomplete financial statements for Bulldog, Inc. Required: Calculate the missing amounts. Complete this question...

    Below are incomplete financial statements for Bulldog, Inc. Required: Calculate the missing amounts. Complete this question by entering your answers in the tabs below. Stmt of Income Statement Stockholders Balance Sheet Equity Calculate the missing amounts. BULLDOG, INC. Income Statement Year ended Dec. 31, 2021 $ 38,000 Revenues Expenses Salaries 5,800 3,800 Advertising Utilities Net income Income Statement Stmt of Stockholders Equity> 2 Below are incomplete financial statements for Bulldog, Inc Required: Calculate the missing amounts 5 points Skipped Complete...

  • BULLDOG, INC. Statement of Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Beginning balance $10,000...

    BULLDOG, INC. Statement of Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Beginning balance $10,000 $7,000 $17,000 Issuances 1,100 1,100 Add: Net income ******* ********* Less: Dividends (3,000) (3,000) Ending balance $11,100 $10,000 $21,100 I need to find the answers to where the ********s are. (The net income in columns 2 and 3)

  • Below are incomplete financial statements for Bulldog, Inc. Required: Calculate the missing amounts. 31,500 BULLDOG, INC....

    Below are incomplete financial statements for Bulldog, Inc. Required: Calculate the missing amounts. 31,500 BULLDOG, INC. Income Statement Revenues $ Expenses: Salaries Advertising 4,500 2,500 Utilities Net income BULLDOG, INC. Statement of Stockholders' Equity Total Common Retained Stockholders' Stock Earnings Equity Beginning balance $ 8,500 $ 5,500 $ 14,000 Issuances 1,000 1,000 Add: Net income Less: Dividends (1,500) (1,500) Ending balance $ 9,500 $ 8,500 $ 18,000

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT