Income Statement | |||||
Sales | $ 825,000.00 | ||||
Less: | Cost of Goods sold | $(500,000.00) | |||
Gross Margin | $ 325,000.00 | ||||
Less: | Expenses | ||||
Advertising expense | $ 19,000.00 | ||||
Interest Expense | $ 5,000.00 | ||||
Depreciation Expense | $ 28,000.00 | ||||
Rent Expense | $ 75,000.00 | ||||
Salary Expense | $ 100,000.00 | ||||
Tax Expense | $ 18,000.00 | ||||
Utilities Expense | $ 40,000.00 | $ 285,000.00 | |||
Net Income | $ 40,000.00 |
Statement of Owner's Equity | ||||
Retained Earnings | ||||
Beginning Balance | $ 141,000.00 | |||
Add: | Net Income | $ 40,000.00 | ||
Less: | Dividend | $ (10,000.00) | ||
Ending Balance | $ 171,000.00 |
Balance Sheet | ||||
Assets | ||||
Current Assets | ||||
Cash | $ 108,000.00 | |||
Accounts Receivable | $ 80,000.00 | |||
Inventory | $ 118,000.00 | |||
Total current assets | $ 306,000.00 | |||
Plant, Property and Equipment | ||||
Equipment | $ 140,000.00 | |||
Accumulated depreciation | $ 46,000.00 | $ 94,000.00 | ||
Building | $ 300,000.00 | |||
Patent | $ 50,000.00 | |||
Total Assets | $ 750,000.00 | |||
Liabilities and Equity | ||||
Current Liabilities | ||||
Accounts Payable | $ 200,000.00 | |||
Salaries Payable | $ 60,000.00 | |||
Taxes Payable | $ 9,000.00 | |||
Total current liabilities | $ 269,000.00 | |||
Non-Current Liabilities | ||||
Notes Payable | $ 10,000.00 | |||
Total Liabilities | $ 279,000.00 | |||
Owner's Equity | ||||
Common Stock | $ 300,000.00 | |||
Retained Earnings | $ 171,000.00 | $ 471,000.00 | ||
Total Liabilities and Equity | $ 750,000.00 |
can you help me with a balance sheet and statement of owners equity 34 Extra Homework...
can you help me do the balance sheet and the owner Equity. Extra Homework From the following information for 2020 for Logan, Inc. prepare Financial Statements. As a December 31-year end. Accounts Payable Accounts Receivable Accumulated Depreciation Advertising Expense Building Cash Common Stock Cost of Goods Sold Equipment Interest Expense Inventory Depreciation Expense Notes Payable, Long-Term Patent Rent Expense Retained Earnings Sales Salaries Payable Salary Expense Tax Expense Taxes Payable Utilities Expense $200,000 80,000 46,000 19,000 300,000 108,000 300,000 500,000...
can you help me build the income statement. thanks Extra Homework From the following information for 2020 for Logan, Inc. prepare Financial Statements. As a December 31-year end. Accounts Payable Accounts Receivable Accumulated Depreciation Advertising Expense Building Cash Common Stock Cost of Goods Sold Equipment Interest Expense Inventory Depreciation Expense Notes Payable, Long-Term Patent Rent Expense Retained Earnings Sales Salaries Payable Salary Expense Tax Expense Taxes Payable Utilities Expense $200,000 80,000 46,000 19,000 300,000 108,000 300,000 500,000 140,000 5,000 118,000...
34 Extra Homework From the following information for 2019 for Logan, Inc. prepare Financial Statements. Assume a December 31-year end. Accounts Payable $200,000 80,000 46,000 19,000 300,000 108,000 300,000 500,000 Accounts Recelvable Accumulated Depreciation Advertising Expense Building Cash Common Stock Cost of Goods Sold Equipment Interest Expense 5,000 118,000 28,000 10,000 50,000 75,000 171,000 825,000 60,000 100,000 18,000 9,000 40,000 Depreciation Expense Notes Payable, Long-Term Patent Rent Expense Retained Earnings Sales Salaries Payable Salary Expense Tax Expense Taxes Payable Utilities...
can you help me with the T account, income statement,Balance sheet, earnings per share and Owners equity table . for the Year 2021. i added the info for the year 2020 to help Do not worry about the question in the text, i just need help with the income statement2021, Balance sheet 2021, Taccount 2021, eps and owner equity 2021. the first pocture are juste the info for 2020 1,000 Assets Current Assets Cash Inventory Total Current Assets 35,400 36,400...
Please prepare a balance sheet, income statement, statement of owners equity and a statement of cash flows. 202 Owners' Equity Homework Froblem 1° The following balances are from the Cheyenne's Accounting Company 2018 20,000 50,000 3,000 190,000 60,000 70,000 5,000 2017 10,000 42,000 4,000 180,000 50,000 40,000 10,000 Cash Accounts Receivable Prepaid Rent Equipment Accumulated Depreciation Accounts Payable Salaries Payable Taxes Payable Note Payable Common Stock ($1 Par) Paid In Capital Retained Earnings Accounting Fees Salary Expense Rent Expense Interest...
can you help me with the owners equity and earnings per share BBBB, Inc. Balance Sheet December 31, 2019 Assets Liabilities Current Assets Current Liabilities Cash $ 151,000 Taxes Payable Merchandise Inventory 8.000 Note Payable-Land Total Current Assets 159,000 Total Current Liabilities $ 18,600 28,000 46,600 Fixed Assets Land 30,000 Long-Term Liabilities Note Payable-Bank Total Liabilities 100,000 146,600 Other Assets Security Deposit 6.000 Owners' Equity Common Stock (100 shares) Retained Earnings Total Owners' Equity Total Liabilities and Owners' Equity 5,000...
can you help me finish the statement of owners equity $ 18,600 28,000 46.600 BBBB, Inc. Balance Sheet December 31, 2019 Assets Current Assets Liabilities Cash Current Liabilities $ 151,000 Merchandise Inventory Taxes Payable 8,000 Total Current Assets Note Payable-Land 159,000 Total Current Liabilities Fixed Assets Long-Term Liabilities Land 30,000 Note Payable-Bank Total Liabilities Other Assets Security Deposit 6,000 Owners' Equity Common Stock (100 shares) Retained Earnings Total Owners' Equity Total Liabilities and Total Assets $ 195,000 Owners' Equity 100.000...
can i pleasw have help on the comparative balance sheet Comparative Balance Sheet December 31, 2020 and 2019 2020 2019 Assets Current Assets: Cash Accounts Receivable, Net Inventory (sunglasses) Prepaid Insurance Prepaid Rent Total Current Assets S $ $ $ $ $ 90,000 130,000 135,000 25,000 S $ $ S $ S 70,000 90,000 80,000 20,000 12,000 272,000 380,000 Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation - Equipment Total Property, Plant, and Equipment Total Assets $ $ $ $...
can you help me with the owners equity and earnings per share 52 Inometa illds Balance Sheet BBBB, Inc.nsnRto Iner December 31, 2019 Assets Liabilities Current Liabilities Taxes Payable Note Payable-Land Total Current Liabilities Current Assets Cash Merchandise Inventory Total Current Assets $ 151,000 8,000 159,000 $ 18,600 28,000 46,600 Fixed Assets Land Long-Term Liabilities Note Payable-Bank Total Liabilities 30,000 100,000 146,600 Other Assets Security Deposit 6.000 Owners' Equity Common Stock (100 shares) Retained Earnings Total Owners' Equity Total Liabilities...
Chapter 13 Homework Stockholders' Equity Section of Balance Sheet Below is the stockholders' Equity section of the balance sheet prepared as of the end of the current year $10,000,000 500,000 Stockholders' Equity Pald-in capital: Preferred 2% stock, $80 par (125,000 shares authorized and issued) Excess of issue price over par Retained earnings Treasury stock (75,000 shares at cost) Dividends payable Total paid-in capital Common stock, 520 par (1,000,000 shares authorized, 825,000 shares issued) Organizing costs Total stockholders' equity Prepare a...