Question

900 Selected financial statement items are for #Shoes at year end, July 31, 2020. Prepare a good form income statement. Opera
0 0
Add a comment Improve this question Transcribed image text
Answer #1

$100,000 #Shoes Income Statement For The Year Ended July 31, 2020 Revenues Expenses: Operating expenses $32,500 Salaries Expe

Add a comment
Know the answer?
Add Answer to:
900 Selected financial statement items are for #Shoes at year end, July 31, 2020. Prepare a...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Bartowski Enterprises, Inc.   Account balances as of the year ended 12/31/17      Accounts payable   22000 Accounts...

    Bartowski Enterprises, Inc.   Account balances as of the year ended 12/31/17      Accounts payable   22000 Accounts receivable   35000 Accumulated depreciation   45000 Advertising expense   6100 Cash   30000 Common stock   20000 Cost of goods sold   120000 Depreciation expense   2000 Dividends   40000 Equipment   100000 Insurance expense   4800 Interest expense   4000 Inventory   14600 Miscellaneous expense   1500 Note payable   50000 Payroll tax expense   5000 Payroll taxes payable   800 Prepaid insurance   2000 Rent expense   12000 Retained earnings, January 1   39500 Salaries expense   50000 Salaries payable   4000...

  • Question 6 These financial statement items are for Sandhill Corporation at year end, July 31, 2018:...

    Question 6 These financial statement items are for Sandhill Corporation at year end, July 31, 2018: Operating expenses $32,500 Interest payable $ 700 Salaries expense 44,700 Supplies expense 1,300 Unearned revenue 12,000 Dividends declared 14,000 Utilities expense 2,800 Depreciation expense 3,900 Equipment 57,100 Retained earnings, Aug. 1, 2017 21,440 Accounts payable 4,920 Rent expense 11,000 Service revenue 113,100 Income tax expense 5,700 Rent revenue 19,500 Supplies 1,600 Common shares 27,000 Held for trading investments 24,500 Cash 5,560 Bank loan payable...

  • These financial statement items are for Crane Corporation at year end, July 31, 2018: Operating expenses...

    These financial statement items are for Crane Corporation at year end, July 31, 2018: Operating expenses $32,500 Interest payable $ 2,000 Salaries expense 46,200 Supplies expense 1,700 Unearned revenue 12,000 Dividends declared 12,500 Utilities expense 2,400 Depreciation expense 2,800 Equipment 61,700 Retained earnings, Aug. 1, 2017 20,440 Accounts payable 4,720 Rent expense 11,000 Service revenue 115,100 Income tax expense 5,800 Rent revenue 19,500 Supplies 1,600 Common shares 24,500 Held for trading investments 22,500 Cash 5,560 Bank loan payable (due Dec....

  • hese financial statement items are for Crane Corporation at year end, July 31, 2018: Operating expenses...

    hese financial statement items are for Crane Corporation at year end, July 31, 2018: Operating expenses $32,500 Interest payable $ 2,000 Salaries expense 46,200 Supplies expense 1,700 Unearned revenue 12,000 Dividends declared 12,500 Utilities expense 2,400 Depreciation expense 2,800 Equipment 61,700 Retained earnings, Aug. 1, 2017 20,440 Accounts payable 4,720 Rent expense 11,000 Service revenue 115,100 Income tax expense 5,800 Rent revenue 19,500 Supplies 1,600 Common shares 24,500 Held for trading investments 22,500 Cash 5,560 Bank loan payable (due Dec....

  • 1) Use the following accounts to prepare a year end multi step income statement and a...

    1) Use the following accounts to prepare a year end multi step income statement and a classified balance sheet for the Jones Company. Administrative expenses Accumulated depreciation Equipment Cash 23000 30000 45000 6000 15000 30000 500 12000 400 common stock Cost of merchandise sold Interest expense Rent Revenue Unearned fees Supplies Prepaid Insurance Accounts Receivable Bonds payable Sales Selling Expenses Retained earnings 450 500 4500 10000 84000 2000 1050 3) Use the following accounts to prepare a year end multi-step...

  • These financial statement items are for Novak Company at year-end, July 31, 2019. Salaries and wages...

    These financial statement items are for Novak Company at year-end, July 31, 2019. Salaries and wages payable Salaries and wages expense Utilities expense Equipment Accounts payable Service revenue Rent revenue Common Stock $ 1.800 51,000 22,900 31,000 4,700 Notes payable (long-term) Cash Accounts receivable Accumulated depreciation equipment Dividends Depreciation expense Retained Earnings (beginning of the year) $ 1,800 15,400 9.000 6.200 3,900 3.700 21.500 63,500 8.700 28,700 Prepare an income statement for the year. (Enter negative amounts using either a...

  • Question 9 These financial statement items are for Bramble Corporation for the year-end, July 31, 2018....

    Question 9 These financial statement items are for Bramble Corporation for the year-end, July 31, 2018. Salaries payable $5,545 Salaries expense 51,850 Utilities expense 22,560 Equipment 32,460 Accounts payable 4,355 Service revenue 76,110 Rent revenue 8,490 Bank loan payable 3,527 Common shares, August 1, 2017 16,860 Cash 27,790 Accounts receivable 28,210 Accumulated depreciation-equipment 4,960 Dividends declared 4,160 Depreciation expense 3,890 Interest expense 100 Interest payable 100 Income tax expense 1,500 Retained earnings, August 1, 2017 38,433 Bramble issued $14,140 of...

  • Please prepare a cash flow with direct method in 2019. Please show me the for calculate formula(only the part of invest...

    Please prepare a cash flow with direct method in 2019. Please show me the for calculate formula(only the part of investmenting and financing activities) like the picture 2showed! Many many thanks! 2019 HO2018 ASSETS $191000 $150000 32000 15000 inc 3000 decrease 130000 16000030000 docresse 2000 decrease crease 160000 incrORS 16000 Incroase Accounts recelvablo 12000 Prepald expenses 6000 8000 180000 80000 100000 160000 (16 000) 863000$ 22000 Total assets LIABILITES AND EQUITY Accounts payable Accrued oxpenses payable Income tax payable Notos...

  • Financial Statements. Prepare Year-End Financial Statements for The Metal Works Corporation. This includes the Income Statement,...

    Financial Statements. Prepare Year-End Financial Statements for The Metal Works Corporation. This includes the Income Statement, Statement of Retained Earnings, and Balance Sheet. From the adjusted blance sheet: Cash 24,786 Petty Cash 305 Accounts Receivable 11500 Supplies on Hand 150 Prepaid Insurance 1000 Computer Equipment 3150 Accumulated Depreciation – Computer Equipment 178 Cell Phone 849 Accumulated Depreciation – Cell Phone 56 Vehicles 55000 Accumulated Depreciation - Vehicles 3121 Accounts Payable 3260 Customer Deposits (Unearned Revenue) SUTA Payable 224 FICA Payable...

  • prepare an income statement for the year ending 12/31/19; retained earnings statement for the year ended;...

    prepare an income statement for the year ending 12/31/19; retained earnings statement for the year ended; classified balance sheet Accounts Payable Accounts Receivable $5000 21,500 35,000 2000 Accumulated Depreciation - Equipment Additional Paid-in-Capital Common Stock Cash Common Stock Depreciation Expense Dividends paid Equipment Insurance Expense Interest Expense Interest payable Notes payable (due 12/31/23) Prepaid Insurance Rent Expense Retained Earnings Salaries and Wages Payable Salaries Expense Service Revenue Supplies Supplies Expense Unearned Service Revenue 11,350 8,000 7000 10,000 60,000 850 150...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT