Prepare an income statement and a retained earnings sheet ONLY Ironside security services end of period...
Prepare an income statement and a retained earnings sheet ONLY
Ironside security services
end of period spread sheet
for the year ended april30,2014
cash 18000
accounts receivable 37,200
supplies 7500
prepaid insurance 4,800
building 240,500
accumulated depreciation-building 55,200
accounts payable. 6,000
salaries payable. 1,500
unearned rent. 3,000
capital stock. 35,000
retained earnings. 144,300
dividends 10000
service fees. 480,000
rent revenue. 25,000
salaries expense 336,000
rent expense.62,500
supplies expense 12,000
depreciation expense-building 6,000
utilities expense 4,400
repairs expense 3,200
insurance expense 2,800
miscellaneous expense 5,100
total
750,000 750,000
Homework Answers
| Ironside security services | ||
| Income statement | ||
| For the month ended Apr 30 2014 | ||
| Revenues: | ||
| Service Fee | 480000 | |
| Rent Revenue | 25000 | 505000 |
| Expenses: | ||
| Salaries Exp. | 336000 | |
| Rent Exp. | 62500 | |
| Supplies Exp. | 12000 | |
| Dep. Exp. | 6000 | |
| Utilities Exp. | 4400 | |
| Repairs Exp. | 3200 | |
| Insurance Exp. | 2800 | |
| Misc. Exp. | 5100 | |
| Total Expenses | 432000 | |
| Net Income | 73000 |
| Ironside security services | |
| Retained Earnings Apr 30,2014 | |
| For the month ended Apr 30 2014 | |
| Beginning Capital | 144300 |
| Add: Addition | 0 |
| Add: Net Income | 73000 |
| Less: Withdrawls | 0 |
| Less: Dividends | 10000 |
| Retained Earnings Apr 30,2014 | 207300 |
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Prepare an income statement and a retained earnings sheet
ONLY
Ironside security services
end of period...
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