Question

Jason Company Adjusted Trial Balance December 31, 2018 100.000 58,000 4,000 25,000 100,000 25,000 94,000 Cash Accounts Receivable Supplies Prepaid Insurance Inventory Vehicle Equipment Accumulated Depreciation Accounts Payable Unearned Revenue Wages Payable Long-Term Notes Payable Common Stock Retained Earnings (1/1/2018) Dividends Service Revenue Repair Expense Delivery Expense Depreciation Expense Rent Expense Insurance Expense Wages Expense Supplies Expense Interest Expense Income Tax Expense Total 60,000 9,000 10,600 40,500 66.000 23,000 65,700 4.000 606,900 1,800 50,000 31,000 64,000 18,000 198,000 57,900 6,000 45,000 881,700 881,700

What is Net Income for the period ending December 31, 2018?

What is Ending Retained Earnings for the period ending December 31, 2018?

What is Total Current Assets as of December 31, 2018?

What is Total Current Liabilities as of December 31, 2018?

What is Total Stockholders' Equity as of December 31, 2018?

What is Total Assets as of December 31, 2018?

Answer 1

Net Income for the period ending December 31, 2018 Retained Earnings for the period ending December 31, 2018 Total Current assets as of December. 31,2018 Total Current Liabilities as of December 31, 2018 Total Stockholders' equity as of December 31,2018 Total Assets as of December 31,2018 $ 135,200 $196,900 $287,000 $ 60,100 $219,900 S 346,000 $ 606,900 Working Notes: Jason Company Income Statement For the Year Ended December 31, 2018 Revenue service Revenue S606.900 Total revenue Expenses Repair Expense $ 1.800 Delivery Expense $ 50,000 Depreciation Expense S 31,000 Rent Expense $ 64,000 Insurance Expense S 18.000 Wages Expense $198.000 Supplies Expense $ 57,900

$ 6,000 $ 45,000 Interest Expense Income Tax Expense Total expenses Net Incomel (Loss) $ 471.700 $ 135,200 Jason Company statement of Retained Earnings For the Year Ended December 31, 2018 Retained earnings. (1/1/2018) Add: Net Income Less: Dividends Retained Earnings. (31/12/2018) S 65.700 $ 135,200 $ 4,000 S 196.900 Jason Company Balance Sheet December. 31,2018 Assets Current assets Cash Accounts Receivables Supplies Prepaid Insurance Inventory $ 100,000 $ 58,000 $ 4.000 $ 25,000 $ 100,000

Total Current assets $ 287,000 Property, plant & equipmenet Vehicle $ 25,000 Equipment $ 94,000 Less: Accumulated Depreciation $ (60.000 $ 59.000 Total assets S 346,000 Total Liabilities and Shareholders' Equity Current Liabilities Accounts Payable $ 9,000 Unearned Revenue $ 10,600 Wages Payable $ 40.500 Total Current Liabilities $ 60,100 Long-Term Notes payable S 66,000 Total Liabilities S 126.100 Shareholders' Equity Common Stock $ 23,000 Retained Earnings $ 196,900 Total shareholders' Equity $ 219,900 Total Liabilities and Shareholders' equity $ 346,000