Homework Answers
SPLISH BROTHERS INC
Balance Sheet
As on May 31,2017
| Assets | ||
| Current assets | ||
| Cash | 25305 | |
| Account receivable | 4155 | |
| Office supplies | 692 | |
| Total Current assets | 30152 | |
| Office equipment | 2770 | |
| Total assets | 32922 | |
| Liabilities and stockholder's equity | ||
| Current liabilities | ||
| Account payable | 2493 | |
| Notes payable | 6925 | |
| Total Current liabilities | 9418 | |
| Stockholder's equity | ||
| Common Stock | 20775 | |
| Retained earnings | 2729 | |
| Total Stockholder's equity | 23504 | |
| Total liabilities and stockholder's equity | 32922 | |
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Prepare a classified balance sheet at May 31, 2017. (List current assets in order of liquidity)...
Nona Curry started her own consulting firm, Splish Brothers Inc., on May 1, 2017. The following...
Nona Curry started her own consulting firm, Splish Brothers Inc., on May 1, 2017. The following transactions occurred during the month of May: May 1 Stockholders invested $20,775 cash in the business in exchange for common stock 2 Paid $831 for office rent for the month 3 Purchased $692 of supplies on account. 5 Paid $208 to advertise for the month in the County News. 9 Received $1,939 cash for services performed. 12 Paid $277 cash dividend. 15 Performed $5,817...
Nona Curry started her own consulting firm, Larkspur, Inc, on May 1, 2017. The following transactions...
Nona Curry started her own consulting firm, Larkspur, Inc, on May 1, 2017. The following transactions occurred during the month of May: Stockholders invested $15,900 cash in the business in exchange for common stock, Paid $636 for office rent for the month. Purchased $530 of supplies on account. Paid $159 to advertise for the month in the County News. Received $1,484 cash for services performed. Paid $212 cash dividend. Performed $4.452 of services on account. Paid $2,650 for employee salaries....
Prepare the unclassified balance sheet as it would appear at December 31, 2017. (List Assets in...
Prepare the unclassified balance sheet as it would appear at December 31, 2017. (List Assets in order of liquidity) SHAMROCK INC. Balance Sheet Assets Liabilities and Stockholders' Equity e Textbook and Media List of Accounts Compute Shamrock's free cash flow and current cash debt coverage for 2017. (Round current cash debt coverage to 2 decimal places, eg. 0.56. Show amounts that decrease cash flow with elthera - signes -15,000 or in parenthesis es (15,000) Free cash flow Current cash debt...
Question 2 These financial statement items are for Splish Brothers Inc. at year-end, July 31, 2017....
Question 2 These financial statement items are for Splish Brothers Inc. at year-end, July 31, 2017. Salaries and wages payable Salaries and wages expense Supplies expense Equipment Accounts payable Service revenue Rent revenue Notes payable (due in 2020) Common stock Cash Accounts receivable Accumulated depreciation-equipment Dividends Depreciation expense Retained earnings (beginning of the year) $ 3,880 58,500 17,500 20,300 4,100 67,100 10,400 3,100 16,000 31,100 11,080 7,900 4,000 5,900 35,900 Prepare an income statement for the year. Splish Brothers Inc....
Nona Curry started her own consulting firm, Teal Mountain Inc., on May 1, 2017. The following...
Nona Curry started her own consulting firm, Teal Mountain Inc., on May 1, 2017. The following transactions occurred during the month of May. Stockholders invested $18,675 cash in the business in exchange for common stock. 2 Paid $747 for office rent for the month. May 1 3 Purchased $622 of supplies on account. 5 Paid $187 to advertise in the County News. 9 Received $1,743 cash for services performed. 12 Paid $249 cash dividend. 15 Performed $5,229 of services on...
Nona Curry started her own consulting firm, Metlock, Inc., on May 1, 2017. The following transactions...
Nona Curry started her own consulting firm, Metlock, Inc., on May 1, 2017. The following transactions occurred during the month of May Stockholders invested $18,450 cash in the business in exchange for common stock. 2 Paid $738 for office rent for the month. 3 May 1 5 9 12 15 17 20 23 26 29 30 Purchased $615 of supplies on account. Paid $185 to advertise in the County News Received $1,722 cash for services performed Paid $246 cash dividen...
Bindy Crawford created a corporation providing legal services, Splish Brothers Inc., on July 1, 2022. On...
Bindy Crawford created a corporation providing legal services,
Splish Brothers Inc., on July 1, 2022. On July 31 the balance sheet
showed: Cash $4,700; Accounts Receivable $6,150; Supplies $990;
Equipment $8,650; Accounts Payable $7,850; Common Stock $10,550;
and Retained Earnings $2,090. During August the following
transactions occurred.
Aug.
1
Collected $1,150 of accounts receivable due from customers.
4
Paid $2,720 cash for accounts payable due.
9
Performed services worth $6,030, of which $3,570 is collected in
cash and the balance...
Nona Curry started her own consulting firm, Larkspur, Inc. on May 1, 2017. The following transactions...
Nona Curry started her own consulting firm, Larkspur, Inc. on May 1, 2017. The following transactions occurred during the month of May: May 1 Stockholders invested $15,900 cash in the business in exchange for common stock 2 Paid $636 for office rent for the month. 3 Purchased $530 of supplies on account. 5 Paid $159 to advertise for the month in the County News. 9 Received $1,484 cash for services performed. 12 Paid $212 cash dividend, 15 Performed $4.452 of...
Nona Curry started her own consulting firm, Teal Mountain Inc., on May 1, 2017. The following...
Nona Curry started her own consulting firm, Teal Mountain Inc., on May 1, 2017. The following transactions occurred during the month of May. Stockholders invested $18,675 cash in the business in exchange for common stock. 2 Paid $747 for office rent for the month. May 1 3 Purchased $622 of supplies on account. 5 Paid $187 to advertise in the County News. 9 Received $1,743 cash for services performed. 12 Paid $249 cash dividend. 15 Performed $5,229 of services on...
Nona Curry started her own consulting firm, Splish Brothers Inc., on May 1, 2022. The following...
Nona Curry started her own consulting firm, Splish Brothers Inc., on May 1, 2022. The following transactions occurred during the month of May. May 1 Stockholders invested $22,350 cash in the business in exchange for common stock. 2 Paid $894 for office rent for the month. 3 Purchased $745 of supplies on account. 5 Paid $223 to advertise in the County News. 9 Received $2,086 cash for services performed. 12 Paid $298 cash dividend. 15 Performed $6,258 of services on...
Nona Curry started her own consulting firm, Splish Brothers Inc., on May 1, 2017. The following transactions occurred during the month of May: May 1 Stockholders invested $20,775 cash in the business in exchange for common stock 2 Paid $831 for office rent for the month 3 Purchased $692 of supplies on account. 5 Paid $208 to advertise for the month in the County News. 9 Received $1,939 cash for services performed. 12 Paid $277 cash dividend. 15 Performed $5,817...
Nona Curry started her own consulting firm, Larkspur, Inc, on May 1, 2017. The following transactions occurred during the month of May: Stockholders invested $15,900 cash in the business in exchange for common stock, Paid $636 for office rent for the month. Purchased $530 of supplies on account. Paid $159 to advertise for the month in the County News. Received $1,484 cash for services performed. Paid $212 cash dividend. Performed $4.452 of services on account. Paid $2,650 for employee salaries....
Prepare the unclassified balance sheet as it would appear at December 31, 2017. (List Assets in order of liquidity) SHAMROCK INC. Balance Sheet Assets Liabilities and Stockholders' Equity e Textbook and Media List of Accounts Compute Shamrock's free cash flow and current cash debt coverage for 2017. (Round current cash debt coverage to 2 decimal places, eg. 0.56. Show amounts that decrease cash flow with elthera - signes -15,000 or in parenthesis es (15,000) Free cash flow Current cash debt...
Question 2 These financial statement items are for Splish Brothers Inc. at year-end, July 31, 2017. Salaries and wages payable Salaries and wages expense Supplies expense Equipment Accounts payable Service revenue Rent revenue Notes payable (due in 2020) Common stock Cash Accounts receivable Accumulated depreciation-equipment Dividends Depreciation expense Retained earnings (beginning of the year) $ 3,880 58,500 17,500 20,300 4,100 67,100 10,400 3,100 16,000 31,100 11,080 7,900 4,000 5,900 35,900 Prepare an income statement for the year. Splish Brothers Inc....
Nona Curry started her own consulting firm, Teal Mountain Inc., on May 1, 2017. The following transactions occurred during the month of May. Stockholders invested $18,675 cash in the business in exchange for common stock. 2 Paid $747 for office rent for the month. May 1 3 Purchased $622 of supplies on account. 5 Paid $187 to advertise in the County News. 9 Received $1,743 cash for services performed. 12 Paid $249 cash dividend. 15 Performed $5,229 of services on...
Nona Curry started her own consulting firm, Metlock, Inc., on May 1, 2017. The following transactions occurred during the month of May Stockholders invested $18,450 cash in the business in exchange for common stock. 2 Paid $738 for office rent for the month. 3 May 1 5 9 12 15 17 20 23 26 29 30 Purchased $615 of supplies on account. Paid $185 to advertise in the County News Received $1,722 cash for services performed Paid $246 cash dividen...
Bindy Crawford created a corporation providing legal services,
Splish Brothers Inc., on July 1, 2022. On July 31 the balance sheet
showed: Cash $4,700; Accounts Receivable $6,150; Supplies $990;
Equipment $8,650; Accounts Payable $7,850; Common Stock $10,550;
and Retained Earnings $2,090. During August the following
transactions occurred.
Aug.
1
Collected $1,150 of accounts receivable due from customers.
4
Paid $2,720 cash for accounts payable due.
9
Performed services worth $6,030, of which $3,570 is collected in
cash and the balance...
Nona Curry started her own consulting firm, Larkspur, Inc. on May 1, 2017. The following transactions occurred during the month of May: May 1 Stockholders invested $15,900 cash in the business in exchange for common stock 2 Paid $636 for office rent for the month. 3 Purchased $530 of supplies on account. 5 Paid $159 to advertise for the month in the County News. 9 Received $1,484 cash for services performed. 12 Paid $212 cash dividend, 15 Performed $4.452 of...
Nona Curry started her own consulting firm, Teal Mountain Inc., on May 1, 2017. The following transactions occurred during the month of May. Stockholders invested $18,675 cash in the business in exchange for common stock. 2 Paid $747 for office rent for the month. May 1 3 Purchased $622 of supplies on account. 5 Paid $187 to advertise in the County News. 9 Received $1,743 cash for services performed. 12 Paid $249 cash dividend. 15 Performed $5,229 of services on...
Nona Curry started her own consulting firm, Splish Brothers Inc., on May 1, 2022. The following transactions occurred during the month of May. May 1 Stockholders invested $22,350 cash in the business in exchange for common stock. 2 Paid $894 for office rent for the month. 3 Purchased $745 of supplies on account. 5 Paid $223 to advertise in the County News. 9 Received $2,086 cash for services performed. 12 Paid $298 cash dividend. 15 Performed $6,258 of services on...
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