could someone help me with a retained earnings statement?
could someone help me with a retained earnings statement? Comprehensive Problem 10-1 (Part Level Submission) Pharoah...
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...
Could someone please help me do the income statement and the statement of stockholders' equity. 0 Adjusted Trial Balance December 31st, 2019 Debit Credit cash 245700 119113 Notes receivable 15000 Accounts receivable 21000 7500 Supplies 0 1800 Buildings 62000 Prepaid insurance 5500 Insurance expense 500 Inventory 23040 17280 Accumulated depreciation 200 accounts payable 14400 17600 Interest payable 75 Common stock 0 96000 Vehicle 21000 21000 Income tax expense 3700 Warranty liability 0 450 Salaries payable 1200 Notes payable 1 1375...
Just need the classified balance sheeet Comprehensive Accounting Cycle Review 7 (Part Level Submission) On December 1, 2019, Tamarisk, Inc. had the following account balances. Cash Notes Receivable Accounts Receivable Inventory Prepaid Insurance Equipment Debit $17,800 Accumulated Depreciation-Equipment 2,500 Accounts Payable 7,100 Common Stock 15,900 Retained Earnings 1,600 27,600 $72,500 Credit $2,900 6,200 52,400 11,000 $72,500 During December, the company completed the following transactions. Dec. 7 Received $3,600 cash from customers in payment of account (no discount allowed). 12 Purchased...
• Income Statement for the year ending December 31, 2019 • Statement of Retained Earnings for the year ending December 31, 2019 • Statement of Stockholders Equity for the year ending December 31, 2019 • Balance Sheet at December 31, 2019 • Statement of Cash Flows for the year ending December 31, 2018 Note: For Earnings per Share (EPS) calculations, use 10,000 shares of common stock as the weighted average number of shares outstanding. Credit Debit 64. 200 2000 5,000...
Could some please help me fill out this income statement. Here is the adjusted trial balance, statement of stockholders' equity, and balance sheet. Multiple Step Income Statement For the Year Ended December 31st, 2019 Revenue: Net Revenue Less: Cost of Goods Sold Gross Profit Operating Expenses Total Operating Expenses Operating Income Other Revenue and Expenses Total Other Revenue and Expenses Income Before Income Tax Income Tax Expense Net Income Credit 119113 7500 1800 17280 200 17600 Adjusted Trial Balance December...
Given is the Income Statement for the year ended December 31, 20XX, Statement of Retained Earnings for the year ended December 31, 20XX and Comparative Balance Sheets for 20XW and 20XX of Maris Corporation: Maris Corporation Income Statement Year Ended December 31, 20XX Sales $4,700,000 Cost of goods sold 2,925,000 Gross profits 1,775,000 Selling and administrative expense 630,000 Amortization expense 290,000 Operating income 855,000 Interest expense 52,000 Earnings before taxes 803,000 Taxes 390,000 Earnings after taxes...
Cornerstone Exercise 3-25 (Algorithmic) Preparing a Retained Earnings Statement Sparrow Company had the following adjusted trial balance at December 31, 2019. Sparrow Company Adjusted Trial Balance December 31, 2019 Debit $3,150 5,650 Credit Cash Accounts Receivable Prepaid Insurance 4,480 42,000 Equipment Accumulated Depreciation, Equipment Accounts Payable Salaries Payable $24,000 2,800 4,450 3,875 8,000 2,255 Unearned Service Revenue 10,800 99,900 Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Rent Expense Insurance Expense Depreciation Expense Income Taxes Expense 49,400 17,250 2,200...
Here are comparative statement data for Pharoah Company and Cullumber Company, two competitors. All balance sheet data are as of December 31, 2017, and December 31, 2016. Pharoah Company Cullumber Company 2017 2016 2017 2016 Net sales $1,922,000 $561,000 Cost of goods sold 1,084,000 291,000 Operating expenses 256,000 85,000 Interest expense 6,800 2,500 Income tax expense 68,600 32,000 Current assets 704,106 $674,806 180,006 $ 171,649 Plant assets (net) 1,137,888 1,080,000 301,812 271,754 Current liabilities 143,262 163,760 76,352 65,407 Long-term liabilities...
On January 1, 2019, Kittson Company had a retained earnings balance of $218,600. It is subject to a 30% corporate income tax rate. During 2019, Kittson earned net income of $67,000, and the following events occurred: 1. Cash dividends of $3 per share on 4,000 shares of common stock were declared and paid. 2. A small stock dividend was declared and issued. The dividend consisted of 600 shares of $10 par common stock. On the date of declaration, the market...
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...