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 |
BULLDOG, INC. Income Statement Revenues S 29,500 Expenses Salaries Advertising Utilities 4,100 2,100 Net income BULLDOG,...
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 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 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. 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 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 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 $ 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 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 $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. 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