Homework Answers
| Ivanhoe Co. | ||
| Income statement | ||
| For the year ended December 31, 2020 | ||
| Revenue | Explanations | |
| Service revenue | $91,209 | Given |
| Expenses | ||
| Salaries and wages expenses | $42,306 | Given |
| Rent expense | $14,915 | Given |
| Utilities expense | $4,446 | Given |
| Advertising expense | $2,581 | Given |
| Total expense | $64,248 | (salaries+rent +utilities+advertising) |
| Net income | $26,961 | (revenue-expenses) |
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Question 1 of 6 The following information relates to Ivanhoe Co. for the year 2020. Owner's...
E1-12 The following information relates to David Pande Co. for the year 2014. Owner's capital, January...
E1-12 The following information relates to David Pande Co. for the year 2014. Owner's capital, January 1, 2014 $48,000 Advertising expense $ 1,800 Owner's drawings during 2014 6,000 Rent expense 10,400 Service revenue 63,600 Utilities expense 3,100 Salaries and wages expense 29,500 Alter analyzing the uata, prepare an income statement and an owner's equity statement the year ending December 31, 2014.
Exercise 1-12 a-b The following information relates to La Greca Co. for the year 2020. Retained...
Exercise 1-12 a-b The following information relates to La Greca Co. for the year 2020. Retained earnings, January 1, 2020 $48,000 Advertising expense $ 1,800 Dividends during 2020 5,000 Rent expense 10,400 Service revenue 62,500 Utilities expense 3,100 Salaries and wages expense 28,000 After analyzing the data, prepare an income statement for the year ending December 31, 2020. La Greca Co. Income Statement After analyzing the data, prepare a retained earnings statement for the year ending December 31, 2020. (List...
*Exercise 1-4 This information relates to Benser Co. for the year 2017. Retained earnings, January 1,...
*Exercise 1-4 This information relates to Benser Co. for the year 2017. Retained earnings, January 1, 2017 Advertising expense Dividends Rent expense Service revenue Utilities expense Salaries and wages expense $67,000 1,800 6,000 10,400 58,000 2,400 30,000 After analyzing the data, prepare an income statement for the year ending December 31, 2017. Benser Co. Income Statement After analyzing the data, prepare a retained earnings statement for the year ending December 31, 2017. (List items that increase retained earnings first.) Benser...
This information relates to Pharoah Company for the year 2017.
This information relates to Pharoah Company for the year 2017. Retained earnings, January 1, 2017 $100,500 Advertising expense 2,700 Dividends 9,000 Rent expense 15,600 Service revenue 87,000 Utilities expense 3,600 Salaries and wages expense 45,000 After analyzing the data, prepare an income statement for the year ending December 31, 2017. After analyzing the data, prepare a retained earnings statement for the year ending December 31, 2017. (List iterms that increase retaine eamings first.)
The income statement for the year 2020 of Bugati Co. contains the following information: Revenues $73,000...
The income statement for the year 2020 of Bugati Co. contains the following information: Revenues $73,000 Expenses: Salaries and Wages $43,000 Expense Rent Expense 12,000 Advertising Expense 11,000 Supplies Expense 6,000 Utilities Expense 3,500 Insurance Expense 4,000 Total expenses 79,500 Net income (loss) $(6,500) At January 1, 2020, Bugati reported owner's equity of $50,000. Owner drawings for the year totalled $13,000. At December 31, 2020, the company will report owner's equity of a) $37,000. Ob) $30,500. c) $43,500. d) $19,500.
The following information relates to Skysong, Inc. for the year 2022. Retained earnings, January 1, 2022...
The following information relates to Skysong, Inc. for the year 2022. Retained earnings, January 1, 2022 $39,360 Advertising expense $1,480 Dividends during 2022 4,100 Rent expense 8,530 Service revenue 51,250 Utilities expense 2,540 Salaries and wages expense 22,960 Other comprehensive income (net of tax) 330 After analyzing the data, compute net income. Prepare a comprehensive income statement for the year ending December 31, 2022.
The following information relates to Bonnie Billy Co. for the year 2022. Retained earnings, January 1,...
The following information relates to Bonnie Billy Co. for the year 2022. Retained earnings, January 1, 2022 Dividends Service revenue Salaries and wages expense $67,000 6,000 65,500 29,000 Advertising expense Rent expense Utilities expense $6,500 9,500 1,400 (21) After analyzing the data, prepare an income statement for the year ending December 31, 2022. BONNIE BILLY CO. Income Statement Question 4 of 10 -/1 E al) For the Month Ended December 31, 2022 After analyzing the data, prepare an For the...
Exercise 1-4 This information relates to Kingbird, Inc. for the year 2017. Retained earnings, January 1,...
Exercise 1-4 This information relates to Kingbird, Inc. for the year 2017. Retained earnings, January 1, 2017 $93,800 Advertising expense 2,520 Dividends 8,400 Rent expense 14,560 81,200 Service revenue Utilities expense 3,360 Salaries and wages expense 42,000 After analyzing the data, prepare an income statement for the year ending December 31, 2017. Kingbird, Inc. Income Statement $ $ After analyzing the data, prepare a retained earnings statement for the year ending December 31, 2017. (List items that increase retained earnings...
the following information relates to stormy incorperated for the year 2020 PREPARE AN INCOME STATEMENT with...
the following information relates to stormy incorperated for the year 2020 PREPARE AN INCOME STATEMENT with the following information: R.E. January 1st, 2020 - rent expense 18,500 advertising expense 9,500 - unearned revenue $11,500 dividends during 2020 $5700 - revenue 93,000 accounts payable 43,000 - utilities expenses 5,500 salaries and wages expense 21,000- deprication expense $3500 inventory $31,000 - accounts revievablr $6730
This information relates to Sunland Company for the year 2022.
This information relates to Sunland Company for the year 2022. Retained earnings, January 1, 2022 $77,700 Advertising expense 2,080 Dividends 6,960 Rent expense 12,000 Service revenue 67,280 Utilities expense 2,900 Salaries and wages expense 34,800 Prepare an income statement for the year ending December 31, 2022. SUNLAND COMPANY Income Statement
E1-12 The following information relates to David Pande Co. for the year 2014. Owner's capital, January 1, 2014 $48,000 Advertising expense $ 1,800 Owner's drawings during 2014 6,000 Rent expense 10,400 Service revenue 63,600 Utilities expense 3,100 Salaries and wages expense 29,500 Alter analyzing the uata, prepare an income statement and an owner's equity statement the year ending December 31, 2014.
Exercise 1-12 a-b The following information relates to La Greca Co. for the year 2020. Retained earnings, January 1, 2020 $48,000 Advertising expense $ 1,800 Dividends during 2020 5,000 Rent expense 10,400 Service revenue 62,500 Utilities expense 3,100 Salaries and wages expense 28,000 After analyzing the data, prepare an income statement for the year ending December 31, 2020. La Greca Co. Income Statement After analyzing the data, prepare a retained earnings statement for the year ending December 31, 2020. (List...
*Exercise 1-4 This information relates to Benser Co. for the year 2017. Retained earnings, January 1, 2017 Advertising expense Dividends Rent expense Service revenue Utilities expense Salaries and wages expense $67,000 1,800 6,000 10,400 58,000 2,400 30,000 After analyzing the data, prepare an income statement for the year ending December 31, 2017. Benser Co. Income Statement After analyzing the data, prepare a retained earnings statement for the year ending December 31, 2017. (List items that increase retained earnings first.) Benser...
The income statement for the year 2020 of Bugati Co. contains the following information: Revenues $73,000 Expenses: Salaries and Wages $43,000 Expense Rent Expense 12,000 Advertising Expense 11,000 Supplies Expense 6,000 Utilities Expense 3,500 Insurance Expense 4,000 Total expenses 79,500 Net income (loss) $(6,500) At January 1, 2020, Bugati reported owner's equity of $50,000. Owner drawings for the year totalled $13,000. At December 31, 2020, the company will report owner's equity of a) $37,000. Ob) $30,500. c) $43,500. d) $19,500.
The following information relates to Bonnie Billy Co. for the year 2022. Retained earnings, January 1, 2022 Dividends Service revenue Salaries and wages expense $67,000 6,000 65,500 29,000 Advertising expense Rent expense Utilities expense $6,500 9,500 1,400 (21) After analyzing the data, prepare an income statement for the year ending December 31, 2022. BONNIE BILLY CO. Income Statement Question 4 of 10 -/1 E al) For the Month Ended December 31, 2022 After analyzing the data, prepare an For the...
Exercise 1-4 This information relates to Kingbird, Inc. for the year 2017. Retained earnings, January 1, 2017 $93,800 Advertising expense 2,520 Dividends 8,400 Rent expense 14,560 81,200 Service revenue Utilities expense 3,360 Salaries and wages expense 42,000 After analyzing the data, prepare an income statement for the year ending December 31, 2017. Kingbird, Inc. Income Statement $ $ After analyzing the data, prepare a retained earnings statement for the year ending December 31, 2017. (List items that increase retained earnings...
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