ORANGE DESIGNS
Income Statement
For the Year Ended December 31,2021
Service Revenue | 115100 | |
Expenses: | ||
Salaries Expense | 41900 | |
Rent Expense | 17900 | |
Depreciation Expense | 6900 | |
Supplies Expense | 7900 | |
Advertising Expense | 12900 | |
Utilities Expense | 11900 | |
Interest Expense | 1900 | |
Total Expenses | (101300) | |
Net Income | 13800 |
ORANGE DESIGNS
Statement of Stockholder's Equity
For the Year Ended December 31,2021
Common Stock | Retained Earnings | Total Stockholder's Equity | |
Balance at January 1 | 37000 | 14900 | 51900 |
Additional issue | 12000 | 12000 | |
Net income of the year | 13800 | 13800 | |
Balance at December 31 | 49000 | 28700 | 77700 |
ORANGE DESIGNS
Balance Sheet
For the Year Ended December 31,2021
Assets | Liabilities | ||
Current Assets: | Current Liabilities: | ||
Cash | 4900 | Accounts Payable | 2900 |
Accounts Receivable | 3900 | Salaries Payable | 3900 |
Supplies | 1900 | Utilities Payable | 1200 |
Prepaid Rent | 5900 | Total Current Liabilities | 8000 |
Total Current Assets | 16600 | ||
Long-term Liabilities: | |||
Long-term Assets: | Notes Payable | 19000 | |
Buildings | 109000 | ||
Accumulated Depreciation | (20900) | Total Liabilities | 27000 |
Total Long-term Assets | 88100 | Stock Holder's Equity: | |
Stock Holder's Equity | 77700 | ||
Total Assets | 104700 | Total Liabilities and stockholders Equity | 104700 |
Orange Designs provides consulting services related to home decoration. Orange Designs provides customers with recommendations for...
Orange Designs provides consulting services related to home decoration. Orange Designs provides customers with recommendations for a full range of home decor, including window treatments, carpet and wood flooring, paint colors, furniture, and much more. Below is the year-end adjusted trial balance of Orange Designs, Credits Debits $ 4,900 3,900 1,900 5,900 109,000 ORANGE DESIGNS Adjusted Trial Balance December 31, 2021 Accounts Cash Accounts Receivable Supplies Prepaid Rent Buildings Accumulated Depreciation Accounts Payable Salaries Payable Utilities Payable Notes Payable (due...
Credits $ BOILERMAKER UNLIMITED Adjusted Trial Balance December 31, 2021 Accounts Debits Cash $ 15,300 Accounts Receivable 24,300 Supplies 31,300 Prepaid Insurance 6,300 Equipment 537,500 Accumulated Depreciation Accounts Payable Salaries Payable Utilities Payable Notes Payable (due in 5 years) Common Stock Retained Earnings Dividends 25,300 Service Revenue-new construction Service Revenue-remodeling Salaries Expense 153,000 Supplies Expense 278,000 Depreciation Expense 43,000 Insurance Expense 24,300 Utilities Expense 41,300 Interest Expense 7,800 Service Fee Expense 66,000 Totals $1,253,400 172,000 30,300 27. 309 4.300 130,000...
Boilermaker Unlimited specializes in building new homes and remodeling existing homes, Remodeling projects include adding game rooms, changing kitchen cabinets and countertops, and updating bathrooms. Below is the year-end adjusted trial balance of Boilermaker Unlimited. $ BOILERMAKER UNLIMITED Adjusted Trial Balance December 31, 2021 Accounts Debits Cash 14,000 Accounts Receivable 26,000 Supplies 33,000 Prepaid Insurance 5,000 Equipment 375,000 Accumulated Depreciation Accounts Payable Salaries Payable Utilities Payable Notes Payable (due in 5 years) Common Stock Retained Earnings Dividends 24,000 Service Revenue-new...
Boilermaker Unlimited specializes in building new homes and remodeling existing homes. Remodeling projects include adding game rooms, changing kitchen cabinets and countertops, and updating bathrooms. Below is the year-end adjusted trial balance of Boilermaker Unlimited. Credits BOILERMAKER UNLIMITED Adjusted Trial Balance December 31, 2021 Accounts Debits Cash $ 14,900 Accounts Receivable 25,100 Supplies 32,100 Prepaid Insurance 5,900 Equipment 487,500 Accumulated Depreciation Accounts Payable Salaries Payable Utilities Payable Notes Payable (due in 5 years) Common Stock Retained Earnings Dividends 24,900 Service...
Russell Engineering provides consulting services related to land development. Below is the year-end adjusted trial balance of Russell Engineering. RUSSELL ENGINEERING Adjusted Trial Balance December 31, 2021 Accounts Debits Credits Cash $ 5,500 Accounts Receivable 4,200 Supplies 2,300 Prepaid Rent 6,100 Equipment 114,000 Accumulated Depreciation $ 25,000 Accounts Payable 3,600 Salaries Payable 3,500 Utilities Payable 1,500 Notes Payable (due in 4 years) 20,000 Common Stock 44,800 Retained Earnings 20,200 Service Revenue 118,500 Salaries Expense 45,000 Rent Expense 17,600 Depreciation...
Tiffany's provides financial services related to investment selections, retirement planning, and general insurance needs. For the current year, the company reports the following amounts: Advertising Expense $ 31,200 Service revenue $ 129,300 Buildings 108,000 Interest Expense 3,500 Salaries Expense 67,800 Utilities Expense 14,500 Accounts Payable 6,300 Equipment 25,700 Cash 6,400 Notes payable 30,000 In addition, the company had common stock of $60,000 at the beginning of the year and issued an additional $15,000 during the year. The company...
Required information [The following information applies to the questions displayed below. The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Credit Debit $ 10,500 135,800 4,589 22,500 250,000 Accounts Cash Accounts Receivable Prepaid Rent Supplies Equipment Accumulated Depreciation Accounts Payable Salaries Payable Interest Payable Notes Payable (due in two years) Common Sto Retained Earnings Service Revenue Salaries Expense Rent Expense Depreciation Expense Interest Expense Totals $120,000 10,500 9,500 3,500 25,000 150,000 45,000 350,000 250,000...
im not sure on some of these answers. can you please help me? 2. Boilermaker Unlimited specializes in building new homes and remodeling existing homes. Remodeling projects include adding game rooms, changing kitchen cabinets and countertops, and updating bathrooms. Below is the year-end adjusted trial balance of Boilermaker Unlimited. 1.5 points Credits $ 136,000 29,400 26,400 BOILERMAKER UNLIMITED Adjusted Trial Balance December 31, 2021 Accounts Debits Cash $ 14.400 Accounts Receivable 25,600 Supplies 32,600 Prepaid Insurance 5,400 Equipment 425,000 Accumulated...
Gator Investments provides financial services related to investment selections, retirement planning, and general insurance needs. At the end of the year on December 31, 2021, the company reports the following amounts: Advertising expense Buildings Salaries expense Accounts payable Cash $ 31,700 Service revenue 132,000 Interest expense 63,300 Utilities expense 4,600 Equipment 3,700 Notes payable $118,600 1,700 13,700 18,000 21,000 In addition, the company had common stock of $100,000 at the beginning of the year and issued an additional $10,000 during...
Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31, 2021, the company reports the following amounts: Cash $ 1,200 Service revenue $ 63,200 Equipment 24,500 Cost of goods sold (food expense) 52,500 Accounts payable 3,500 Buildings 31,000 Delivery expense 1,700 Supplies 2,500 Salaries expense 4,600 Salaries payable 700 In addition, the company had common stock of $31,000 at the beginning of the year and issued an additional $3,100 during the...