Novak Company
Income Statement
For the Year Ended July 31,2022
Revenues | ||
Service Revenue | 65000 | |
Rent Revenue | 6500 | |
Total Revenues | 71500 | |
Expenses | ||
Depreciation Expense | 8000 | |
Salaries and wages expense | 56400 | |
Utilities Expense | 15000 | |
Total Expense | 79400 | |
Net Income/ (Loss) | (7900) |
Novak Company
Retained Earnings Statement
For the Year Ended July 31,2022
Retained Earnings Opening | 29400 | |
Less: Net income/ (loss) | 7900 | |
Less: Dividends | 16500 | (24400) |
Retained earnings July 31,2022 | 5000 |
Novak Company
Balance Sheet
For the Year Ended July 31,2022
Assets | ||
Current Assets | ||
Cash | 10900 | |
Accounts Receivable | 8600 | |
Total Current Asset | 19500 | |
Long-term Assets | ||
Equipment | 15500 | |
Less:Accumulated Depreciation-Equipment | (7000) | |
Total Long-term Asset | 8500 | |
Total Assets | 28000 | |
Liabilities and stockholder's Equity | ||
Current Liabilities | ||
Accounts Payable | 4100 | |
Unearned Rent revenue | 1700 | |
Total Current Liabilities | 5800 | |
Stockholder's Equity | ||
Common Stock | 17200 | |
Retained Earnings | 5000 | |
Total Stockholder's Equity | 22200 | |
Total Liabilities and stockholder's Equity | 28000 |
Novak Company ended its fiscal year on July 31, 2022. The company's adjusted trial balance as...
Novak Company ended its fiscal year on July 31, 2022. The company's adjusted trial balance as of the end of its fiscal year is shown as follows Credit No. 101 112 Debit $10.900 8,600 15,500 Novak Company Adjusted Trial Balance July 31, 2022 Account Titles Cash Accounts Receivable Equipment - Accumulated Depreciation-Equip. Accounts Payable Unearned Rent Revenue Common Stock Retained Earnings Dividends Service Revenue Rent Revenue Depreciation Expense Salaries and Wages Expense Utilities Expense 157 158 201 208 311 320...
Ayayai Company ended its fiscal year on July 31, 2022. The company's adjusted trial balance as of the end of its fiscal year is shown as follows. No. Debit Credit 101 112 157 $8,600 8,600 16,500 Ayayai Company Adjusted Trial Balance July 31, 2022 Account Titles Cash Accounts Receivable Equipment Accumulated Depreciation-Equip. Accounts Payable Unearned Rent Revenue Common Stock Retained Earnings Dividends Service Revenue 158 201 $7,100 4,200 1,700 208 311 18,100 27,200 320 332 16,500 400 63,500 7,000 429...
Pronghorn Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below. 112 Pronghorn Company Adjusted Trial Balance July 31, 2019 No. Account Titles Debit Credit 101 Cash $8,550 Accounts 8,500 Receivable 157 Equipment 15,900 Accumulated 158 Depreciation- $7,300 Equip. 201 Accounts Payable 4,050 208. Unearned Rent 2,400 Revenue 311 Common Stock 17,800 320 Retained Earnings 26,000 332 Dividends 16,500 400 Service Revenue 65,000 429 Rent...
Blue Spruce Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below. Blue Spruce Company Adjusted Trial Balance July 31, 2019 No. Account Titles Debit Credit 101 Cash $9,700 112 Accounts Receivable 9,500 157 Equipment 15,500 158 Accumulated Depreciation-Equip. $7,300 201 Accounts Payable 5,000 208 Unearned Rent Revenue 1,600 311 Common Stock 16,000 320 Retained Earnings 29,000 332 Dividends 16,000 400 Service Revenue 64,500 429...
Plevin Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below. Credit Debit $9,840 8,780 15,900 Plevin Company Adjusted Trial Balance July 31, 2019 No. Account Titles 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable Unearned Rent Revenue 311 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense 726 Salaries and Wages Expense...
Bramble Company ended its fiscal year on July 31, 2019. The
company’s adjusted trial balance as of the end of its fiscal year
is shown below.
Exercise 4-08 a-c (Video) Blue Spruce Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below. Blue Spruce Company Adjusted Trial Balance July 31, 2019 Account Titles No. Credit 101 Cash Debit $10,300 9,500 16,500 112 157 158 201...
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Concord Company ended its fiscal year on July 31, 2022. The company's adjusted trial balance as of the end of its fiscal year is shown as follows. No. Credit 101 112 157 158 201 208 Concord Company Adjusted Trial Balance July 31, 2022 Account Titles Debit Cash $9,700 Accounts Receivable 8,500 Equipment 16,000 Accumulated Depreciation-Equip. Accounts Payable Unearned Rent Revenue Common Stock Retained Earnings Dividends 16,000 Service Revenue Rent Revenue Depreciation Expense 7,500 Salaries and...
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Concord Company ended its fiscal year on July 31, 2022. The company's adjusted trial balance as of the end of its fiscal year is shown as follows. No. Credit 101 112 157 158 201 208 Concord Company Adjusted Trial Balance July 31, 2022 Account Titles Debit Cash $9,700 Accounts Receivable 8,500 Equipment 16,000 Accumulated Depreciation-Equip. Accounts Payable Unearned Rent Revenue Common Stock Retained Earnings Dividends 16,000 Service Revenue Rent Revenue Depreciation Expense 7,500 Salaries and...
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Flint Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below. Credit Debit $9,850 8,500 15,800 Flint Company Adjusted Trial Balance July 31, 2019 No. Account Titles 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Unearned Rent Revenue 111 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense 726 Salaries...
Blossom Company ended its fiscal year on July 31, 2020. The company's adjusted trial balance as of the end of its fiscal year is as follows. Credit Debit $8,000 8,500 15,500 Blossom Company Adjusted Trial Balance July 31, 2020 No. Account Titles 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Unearned Rent Revenue 301 Owner's Capital 306 Owner's Drawings 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense 726 Salaries and Wages Expense 732...