Homework Answers
Income Statement:
| Income Statement | ||
| For the year ended July 31,2017 | ||
| Revenues: | ||
| Service revenue | $13,900 | |
| Expenses: | ||
| Utilities expense | $196 | |
| Salary expense | $3,700 | |
| Rent expense | $720 | |
| Office supplies expense | $1,210 | |
| Total expenses | $5,826 | |
| Net income | $8,074 | |
Statement of retained earnings:
| Statement of retained earnings | |
| For the year ended July 31,2017 | |
| Retained earnings at July 1,2017 | $0 |
| Add: Net income | $8,074 |
| Balance | $8,074 |
| (Less): Dividends | ($1,800) |
| Retained earnings at July 31,2017 | $6,274 |
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prepare the income statement and the statement of retained earnings
of this Davids for the month...
A) prepare an income statement and a retained earnings statement for the year B) prepare a...
A) prepare an income statement and a retained earnings
statement for the year
B) prepare a classified statement of financial position at
July 31
s. mor E4-17 These financial statement items are for Van Dijk Company NV at year-end 2017. Salaries and wages payable $ 2,040 Notes payable (long-term) Salaries and wages expense 50,700 Cash Utilities expense 22,600 Accounts receivable Equipment 30,000 Accumulated depreciation equip. Accounts payable 4,100 Dividends Service revenue 62,000 Depreciation expense Rent revenue 8,500 Retained earnings (beginning...
prepare an income statement, statement of retained earnings, and balance sheet. Sharon Silver, Registered Dietician July...
prepare an income statement, statement of retained earnings,
and balance sheet.
Sharon Silver, Registered Dietician July 31, 2017 Account Titles Balance Dividends $2,300 Unearned Revenues $1,500 Utilities Expense $150 Cash $36,200 Office Supplies $1,800 Rent Expense $500 Accounts Receivable $9,100 Accounts Payable h# $3,300 Retained Earnings (Beginning Balance) $0 Salaries Expense $1,700 Prepaid Insurance $2,000 Equipment $13,000 Notes Payable $30,000 Common Stock $23,150 Service Revenue $8,800
Prepare an income statement and a retained earnings statement for the 2 months ended December 31,...
Prepare an income statement and a retained earnings statement
for the 2 months ended December 31, 2017, The note payable has a
stated interest rate of 6%, and the principal and interest are due
on November 16, 2019.
RUUSU 11al Dalal December 31, 2017 Debit Credit Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment NT$1,180 875 350 1,210 1,200 NT$ 40 Accounts Payable Salaries and Wages Payable Unearned Service Revenue Notes Payable 300 2,000 Interest Payable 15 800...
Prepare the income statement. Start with the heading and then complete the rest of the statement....
Prepare the income statement. Start with the heading and then complete the rest of the statement. Payments of cash: Acquisition of equipment . . . . . . . . . . . . $206,500 Cash balance, August 1, 2017 . . . . . . . . . . $0 Dividends . . . . . . . . . . . . . . . . . . . . . . . . 2,000 Cash balance, August...
Direction: Prepare an Income statement, retained earnings statements, and balance sheet. Income Tax Expense and Income...
Direction: Prepare an Income statement, retained earnings
statements, and balance sheet.
Income Tax Expense and Income Tax Payable have not yet been
calculated . Assume the company is in a 21% tax bracket and that
the 21% rate applies to all items of income or loss, including any
"weird items ." Merchandise inventory at the beginning of the year
was $ (you will need to analyze the Income Summary account ). For
earnings per share calculations , assume that 600...
Use the information presented in this worksheet to prepare an income statement, retained earnings statement, and...
Use the information presented in this worksheet to prepare an income statement, retained earnings statement, and balance sheet. Show cell references if possible. ESP Corporation Worksheet for year ended December 31, 2018 Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Cash 5,900 $ 5,900 $ 5,900 Accounts Receivable 12,450 $ 2,800 $ 15,250 $ 15,250 Office Supplies $ 200 $ 200 $ 200 Prepaid insurance 2,400 $ 1,800 $ 600 $ 600 Equipment 169,000 $ 169,000 $ 169,500...
Analyze the data above and prepare an income statement and a retained earnings statement for the...
Analyze the data above and prepare an income statement and a
retained earnings statement for the year ending Dec 31, 2017
The following information relates to Radio Repair Company for the year 2017: Retained earnings, January 1, 2017 $59,000 Advertising expense 1,800 Dividends paid during 2017 9,000 Rent expense 10,400 Service revenue 52,000 Utilities expense 2,400 Salaries and wages expense 25,000 Required After analyzing the above data, prepare an Income Statement and a Retained Earnings Statement for the year ending...
planations for any changes in Retained Earnings. are an income statement for the month of May...
planations for any changes in Retained Earnings. are an income statement for the month of May 2022. 6. Prer a classified balance sheet at May 31, 2022. STOCK Retained Earnings + Revenues - Expenses - Dividends entre arnings GLS Excel PS .2), AP Bindy Crawford created a corporation providing legal se Inc., on July 1, 2022. On July 31 the balance sheet showed Cash $4,000, Accounts Recen corporation providing legal services, Bindy Crawford Supplies 5500, Equipment $5,000, Accounts Payable $4,200,...
i want the income statement, statement of retained earnings, and balance sheet 2 MIX Inc. is...
i want the income statement, statement of retained earnings, and
balance sheet
2 MIX Inc. is a service business incorporated on January, 2018 to provide personal training for athletes aspiring to play college sports. The following is a simplified list of accounts and amounts reported in its accounting records at the beginning of its second quarter of operations on April 1, 2018(the amounts are in thousands of dollars). The accounts have normal debit or credit balances. Accounts Payable $ 600...
Analyse transactions and prepare income statement, retained earnings statement, and statement of financial position P1.2 (LO...
Analyse transactions and prepare income statement, retained earnings statement, and statement of financial position P1.2 (LO 4,5) Ai Fang Co. opened on July 1, 2020. On July 31, the statement of financial position showed Cash 75,000, Accounts Receivable Y1.500, Supplies 7500, Equipment 76,000, Accounts Payable 74.200, Share Capital-Ordinary 14,000, and Retained Earning of Y4,800 (amounts in thousands). During August, the following transactions occurred. 1. Collected V1.200 of accounts receivable. 2. Paid V2.800 cash on accounts payable. 3. Recognized revenue of...
A) prepare an income statement and a retained earnings
statement for the year
B) prepare a classified statement of financial position at
July 31
s. mor E4-17 These financial statement items are for Van Dijk Company NV at year-end 2017. Salaries and wages payable $ 2,040 Notes payable (long-term) Salaries and wages expense 50,700 Cash Utilities expense 22,600 Accounts receivable Equipment 30,000 Accumulated depreciation equip. Accounts payable 4,100 Dividends Service revenue 62,000 Depreciation expense Rent revenue 8,500 Retained earnings (beginning...
prepare an income statement, statement of retained earnings,
and balance sheet.
Sharon Silver, Registered Dietician July 31, 2017 Account Titles Balance Dividends $2,300 Unearned Revenues $1,500 Utilities Expense $150 Cash $36,200 Office Supplies $1,800 Rent Expense $500 Accounts Receivable $9,100 Accounts Payable h# $3,300 Retained Earnings (Beginning Balance) $0 Salaries Expense $1,700 Prepaid Insurance $2,000 Equipment $13,000 Notes Payable $30,000 Common Stock $23,150 Service Revenue $8,800
Prepare an income statement and a retained earnings statement
for the 2 months ended December 31, 2017, The note payable has a
stated interest rate of 6%, and the principal and interest are due
on November 16, 2019.
RUUSU 11al Dalal December 31, 2017 Debit Credit Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment NT$1,180 875 350 1,210 1,200 NT$ 40 Accounts Payable Salaries and Wages Payable Unearned Service Revenue Notes Payable 300 2,000 Interest Payable 15 800...
Direction: Prepare an Income statement, retained earnings
statements, and balance sheet.
Income Tax Expense and Income Tax Payable have not yet been
calculated . Assume the company is in a 21% tax bracket and that
the 21% rate applies to all items of income or loss, including any
"weird items ." Merchandise inventory at the beginning of the year
was $ (you will need to analyze the Income Summary account ). For
earnings per share calculations , assume that 600...
Analyze the data above and prepare an income statement and a
retained earnings statement for the year ending Dec 31, 2017
The following information relates to Radio Repair Company for the year 2017: Retained earnings, January 1, 2017 $59,000 Advertising expense 1,800 Dividends paid during 2017 9,000 Rent expense 10,400 Service revenue 52,000 Utilities expense 2,400 Salaries and wages expense 25,000 Required After analyzing the above data, prepare an Income Statement and a Retained Earnings Statement for the year ending...
planations for any changes in Retained Earnings. are an income statement for the month of May 2022. 6. Prer a classified balance sheet at May 31, 2022. STOCK Retained Earnings + Revenues - Expenses - Dividends entre arnings GLS Excel PS .2), AP Bindy Crawford created a corporation providing legal se Inc., on July 1, 2022. On July 31 the balance sheet showed Cash $4,000, Accounts Recen corporation providing legal services, Bindy Crawford Supplies 5500, Equipment $5,000, Accounts Payable $4,200,...
i want the income statement, statement of retained earnings, and
balance sheet
2 MIX Inc. is a service business incorporated on January, 2018 to provide personal training for athletes aspiring to play college sports. The following is a simplified list of accounts and amounts reported in its accounting records at the beginning of its second quarter of operations on April 1, 2018(the amounts are in thousands of dollars). The accounts have normal debit or credit balances. Accounts Payable $ 600...
Analyse transactions and prepare income statement, retained earnings statement, and statement of financial position P1.2 (LO 4,5) Ai Fang Co. opened on July 1, 2020. On July 31, the statement of financial position showed Cash 75,000, Accounts Receivable Y1.500, Supplies 7500, Equipment 76,000, Accounts Payable 74.200, Share Capital-Ordinary 14,000, and Retained Earning of Y4,800 (amounts in thousands). During August, the following transactions occurred. 1. Collected V1.200 of accounts receivable. 2. Paid V2.800 cash on accounts payable. 3. Recognized revenue of...
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