How to get RE of 54 880 and Net Income -59120 , highlighted above
Working notes is given below for Net loss and Retained Earnings
How to get RE of 54 880 and Net Income -59120 , highlighted above Question 4...
Problem 1-63A (Algorithmic) Income Statement, Retained Earnings Statement, and Balance Sheet The following information relates to Ashton Appliances for 2019. Accounts payable $16,800 Accounts receivable 70,300 Accumulated depreciation (building) 106,200 Accumulated depreciation (furniture) 27,600 Bonds payable (due in 7 years) 192,000 Building 300,000 Cash 41,450 Common stock 115,620 Cost of goods sold 511,350 Depreciation expense (building) 11,050 Depreciation expense (furniture) 12,000 Furniture 130,000 Income taxes expense 16,650 Income taxes payable 11,400 Insurance expense 36,610 Interest expense 15,500 Inventory 59,850 Other...
Print 1. The adjusted trial balance for Green Advertising Services is presented below: (Click on the icon to view the adjusted trial balance.) Read the requirements Requirement 1. Prepare the income statement for the year ending December 31, 2018. (Use a minus sign or parentheses to show a net loss. If a box is not used in the statement, leave the box emply; do not select a label or enter a zero.) Green Advertising Services Income Statement Year Ended December...
can someone show me how to create a cash flow statement with this please Create a Cashflow statement using the following below: Jan-Feb Net Income 57000 Depreciation 20000 Purchased fixed assets paying cash 310000 Received $90,000 cash for issuance of notes payable 90000 Received $120,000 cash for issuance of common stock 120000 Paid $20,000 for purchase of treasury stock 20000 Ending cash balance 50000 Class Start Date Jan-Feb Assets 2017 2016 Current assets: Cash 50000 20000 Accounts receivable 75000 85000 Inventory 100000 80000 Long-term assets Plant assets 430000 120000 Accumulated depreciation 12000 9000 Total Assets 667000 314000 Liabilities Current liabilities ...
Multiple-step income statement and balance sheet The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 20Y7: Cash $109,100 Retained Earnings $480,800 Accounts Receivable 290,900 Dividends 65,300 Inventory 331,600 Sales 3,995,800 Estimated Returns Inventory 5,000 Cost of Goods Sold 2,311,300 Office Supplies 10,300 Sales Salaries Expense 649,900 Prepaid Insurance 8,000 Advertising Expense 178,700 Office Equipment 240,100 Depreciation Expense— Store Equipment 34,800 Accumulated Depreciation— Office Equipment 163,100 Miscellaneous Selling...
ACC 500 Financial Statement Exercise Ozark's 2016 Net Income was 140,000. Equipment purchases were made with cash. The increase in common stock and additional paid-in capital is due to issuing additional shares for cash. Comparative balance sheets for Ozark follow Prepare a statement of Cash Flows using the template provided. 2016 2015 Assets Cash Accounts receivable Inventories Prepaids Land Building and equipment Less: Accumulated depreciation Total assets XXX 199, 250 250,000 13,000 250,000 1,500,000 -205,000 2,465,950 472,000 71,500 278,800 xxx...
Statement of Cash Flows (Direct Method) The Wolff Company's income statement and comparative balance sheets at December 31 of 2013 and 2012 are shown below: WOLFF COMPANY Income Statement For the Year Ended December 31, 2013 Sales Revenue $825,500 Cost of Goods Sold $559,000 Wages Expense 111,800 Insurance Expense 10,400 Depreciation Expense 22,100 Interest Expense 11,700 Income Tax Expense 37,700 752,700 Net Income $72,800 WOLFF COMPANY Balance Sheets Dec. 31, 2013 Dec. 31, 2012 Assets Cash Accounts Receivable $14,300 53,300...
ARTIC COMPANY Income Statement For the Year Ended December 31, 2019 Sales Revenue $645,000 Cost of Goods Sold $430,000 Wages Expense 91,000 Insurance Expense 12,000 Depreciation Expense 13,000 Interest Expense 15,000 Income Tax Expense 29,000 590,000 Net Income $55,000 ARTIC COMPANY Balance Sheets Dec. 31, 2019 Dec. 31, 2018 $8,000 32,000 65,000 $41,000 41,000 90,000 5,000 219,000 (68,000) $328,000 7,000 Assets Cash Accounts Receivable Inventory Prepaid Insurance Plant Assets Accumulated Depreciation Total Assets Liabilities and Stockholders' Equity Accounts Payable Wages...
Multiple-step income statement and balance sheet The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 20Y7: Cash $125,300 Retained Earnings $552,500 Accounts Receivable 334,200 Dividends 75,100 Inventory 381,000 Sales 4,591,100 Estimated Returns Inventory 5,000 Cost of Goods Sold 2,655,600 Office Supplies 11,800 Sales Salaries Expense 746,800 Prepaid Insurance 9,100 Advertising Expense 205,400 Office Equipment 275,800 Depreciation Expense— Store Equipment 40,000 Accumulated Depreciation— Office Equipment 187,500 Miscellaneous Selling...
The Castillo Company reported operating profits of $60,000, Depreciation expenses of $40,000, Interest expense of $10,000 and paid $10,000 in taxes in 2017. Following are the Company’s balance sheets for 2016 and 2017. C&B CASTILLO COMPANY 2016 2017 Cash $50,000 $5,000 Accounts Receivables 200,000 300,000 Inventories 400,000 480,000 Total Current Assets 650,000 785,000 Gross Fixed Assets 450,000 570,000 Accumulated Depreciation -100,000 -140,000 Net Fixed Assets ...
Using vertical analysis, prepare an income statement. (this is all the information given) (indirect method) thats all info i have, it says indirect method on cash flow only Robust Robots, Inc. Comparative Balance Sheet December 31, 2019 and 2018 2019 2018 Assets Current Assets: Cash Accounts Receivable, net Merchandise Inventory Supplies Prepaid Insurance Total Current Assets $ $ $ $ $ $ 65,000 150,000 135,000 9,700 30,000 389,700 $ $ $ $ $ $ 80,000 100,000 70,000 500 10,000 260,500...