Question 9
These financial statement items are for Bramble Corporation for
the year-end, July 31, 2018.
Salaries payable | $5,545 | ||
Salaries expense | 51,850 | ||
Utilities expense | 22,560 | ||
Equipment | 32,460 | ||
Accounts payable | 4,355 | ||
Service revenue | 76,110 | ||
Rent revenue | 8,490 | ||
Bank loan payable | 3,527 | ||
Common shares, August 1, 2017 | 16,860 | ||
Cash | 27,790 | ||
Accounts receivable | 28,210 | ||
Accumulated depreciation-equipment | 4,960 | ||
Dividends declared | 4,160 | ||
Depreciation expense | 3,890 | ||
Interest expense | 100 | ||
Interest payable | 100 | ||
Income tax expense | 1,500 | ||
Retained earnings, August 1, 2017 | 38,433 |
Bramble issued $14,140 of common shares during the year.
A) Prepare an income statement for the year ended July 31, 2018.
B) Prepare a statement of changes in equity for the year ended July 31, 2018. (If an amount reduces the account balance then enter with negative sign e.g. -45 or parentheses e.g. (45).)
C) Prepare a classified statement of financial position at July 31, 2018. ( split into assets and liabilities and shareholders equity)
D) Calculate the current ratio and debt to total assets ratio. (Round answers to 1 decimal place, e.g. 25.5.)
Question 9 These financial statement items are for Bramble Corporation for the year-end, July 31, 2018....
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