Question

Chapter 04 Homework (Application) eBook Show Me How Calculator Adjustments Trial Balance 1. EX 04.01 Trial Balance Dr. Cr. Account Title Dr. Cr. Dr. Cr. 2. EX.04.03 ALGO 7,850 7,850 18,680 Cash Accounts Receivable Supplies 18,680 1,980 3. EX.04,05 ALGO 4. EX 04.14 1,660 320 Land 16,060 16,060 15,130 15,130 5. EX.04.17 990 2.070 5,040 3,060 5,040 6. EX.04.20 240 240 7. EX.04.06.EXCEL ALGO 6,300 6,300 12,750 12,750 Office Equipment Accumulated Depreciation Accounts Payable Salaries Payable Common Stock Retained Earnings Dividends Fees Earned Salary Expense Supplies Expense Depreciation Expense Miscellaneous Expense 2,430 2,430 51,470 51,470 14,010 240 14,250 1,660 1,660 990 990 1,490 1,490 77,630 77,630 2.890 2,890 78,860 78,860 Type here to search OR Previous Next 12:48 PM (? A ¢* ENG 9/20/2020

What ya'll get?

Answer 1

Statement of stockholders' Equity:

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Statement of stockholders' Equity
For the year ended August 31, 20Y9
	Common stock	Retained Earnings	Total
Balances, September 1, 20Y8	$3,800	$12,750	$16,550
Issued common stock	$2,500		$2,500
Net income		$33,080	$33,080
Dividends		($2,430)	($2,430)
Balances, August 31, 20Y9	$6,300	$43,400	$49,700

Balance Sheet:

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Balance Sheet
August 31 , 20Y9
Assets
Current assets:
Cash		$7,850
Accounts receivable		$18,680
Supplies		$320
Total current assets			$26,850
Property, plant, and equipment:
Land		$16,060
Office equipment	$15,130
Accumulated depreciation	($3,060)
Book value-office equipment		$12,070
Total property, plant, and equipment			$28,130
Total assets			$54,980
Liabilities
Current liabilities:
Accounts payable		$5,040
Salaries payable		$240
Total liabilities			$5,280
Stockholders' Equity
Common stock		$6,300
Retained earnings		$43,400
Total stockholders' equity			$49,700
Total liabilities and stockholders' equity			$54,980

Calculations:

Income Statement
Fees earned		$51,470
Expenses:
Salary expense	$14,250
Supplies expense	$1,660
Depreciation expense	$990
Miscellaneous expense	$1,490
Total expenses		$18,390
Net inocme		$33,080