These financial statement items are for Nurmury Corporation at year-end, December 31, 2015:
These financial statement items are for Nurmury Corporation at year-end, December 31, 2015:
Salaries expense $20,000
Utilities expense 14,900
Equipment 15,900
Accounts Payable 6,220
Sales Revenue 69,600
Service Revenue 20,000
Common stock 29,400
Cost of Goods Sold (COGS) 38,700
Cash 10,140
Accounts receivable 8,780
Short-term investments 10,000
Dividends 14,000
Inventories X
Salaries payable 5,000
Retained earnings (Jan. 1, 2011) 25,200
Calculate the net income for the year.
Homework Answers
Answer:
Net income= $ 16,000
Working:
| Nurmury corporation | ||
| Income statement | ||
| For the Year Ended December 31, 2015 | ||
| Revenue | ||
| Sales revenue | $ 69,600 | |
| Service revenue | $ 20,000 | |
| Total Revenue (A) | $ 89,600 | |
| Expenses: | ||
| Cost of Goods Sold | $ 38,700 | |
| Salaries expense | $ 20,000 | |
| Utilities expense | $ 14,900 | |
| Total Expense (B) | $ 73,600 | |
| Net Income (A-B) | $ 16,000 | |
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These financial statement items are for Nurmury Corporation at
year-end, December 31, 2015:
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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
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Interest payable
$ 700
Salaries expense
44,700
Supplies expense
1,300
Unearned revenue
12,000
Dividends declared
14,000
Utilities expense
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Depreciation expense
3,900
Equipment
57,100
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Accounts payable
4,920
Rent expense
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Service revenue
113,100
Income tax expense
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Supplies
1,600
Common shares
27,000
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24,500
Cash
5,560
Bank loan payable...
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These financial statement items are for Rugen Company at year-end, July 31, 2016. (20 pts Salaries...
These financial statement items are for Rugen Company at year-end, July 31, 2016. (20 pts Salaries and wages payable $ 2,980 Notes payable (long-term) $ 3,000 Salaries and wages expense 45,700 Cash 5,200 utilities expense 21,100 Accounts receivable 9,730 Suipment 38,000 Accumulated depreciation 5,000 A unts payable 4,100 Owner's Drawings 4,000 Service revenue 57,200 Depreciation expense 4,000 Rent revenue 6,500 Owner's capital (beginning 48,000 of the year) Instructions a) Prepare an income statement and an owner's equity statement for the...
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
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Operating expenses
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Salaries expense
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Unearned revenue
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Utilities expense
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Depreciation expense
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thank you Exercise 4-09 al,a2-b Plevin Company ended its fiscal year on July 31, 2019. The...
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Exercise 4-09 al,a2-b Plevin Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below. Credit Debit $9,840 8,780 15,900 Plevin Company Adjusted Trial Balance July 31, 2019 No. Account Titles 101 Cash Tu 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Unearned Rent Revenue 311 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 429 Rent Revenue 711...
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
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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
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Rent revenue
19,500
Supplies
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24,500
Held for trading investments
22,500
Cash
5,560
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These financial statement items are for Concord Company at year-end, July 31, 2019. Salaries and wages...
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31,300 Accumulated depreciation-equipment 6,500 Accounts payable
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QUESTION 26 Elston Company compiled the following financial information as of December 31, 2014: Service revenue $700,000 Common stock 150,000 Machine 350,000 Operating expenses 625,000 Cash 200,000 Dividends 50,000 Supplies 25,000 Accounts payable 100,000 Accounts receivable 75,000 Inventory 80,000 Retained earnings, 1/1/14 375,000 Elston's assets on December 31, 2014 are $650,000 $730,000 OO $625,000 $475,000 QUESTION 25 These financial statement items are for ABC Corporation at year-end, December 31, 2011: Salaries expense Utilities expense Equipment Accounts Payable...
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
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Common shares
27,000
Held for trading investments
24,500
Cash
5,560
Bank loan payable...
These financial statement items are for Rugen Company at year-end, July 31, 2016. (20 pts Salaries and wages payable $ 2,980 Notes payable (long-term) $ 3,000 Salaries and wages expense 45,700 Cash 5,200 utilities expense 21,100 Accounts receivable 9,730 Suipment 38,000 Accumulated depreciation 5,000 A unts payable 4,100 Owner's Drawings 4,000 Service revenue 57,200 Depreciation expense 4,000 Rent revenue 6,500 Owner's capital (beginning 48,000 of the year) Instructions a) Prepare an income statement and an owner's equity statement for the...
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....
thank you
Exercise 4-09 al,a2-b Plevin Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below. Credit Debit $9,840 8,780 15,900 Plevin Company Adjusted Trial Balance July 31, 2019 No. Account Titles 101 Cash Tu 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Unearned Rent Revenue 311 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 429 Rent Revenue 711...
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....
These financial statement items are for Concord Company at
year-end, July 31, 2019. Salaries and wages payable $ 1,800 Notes
payable (long-term) $ 2,000 Salaries and wages expense 51,300 Cash
13,200 Utilities expense 22,300 Accounts receivable 9,200 Equipment
31,300 Accumulated depreciation-equipment 6,500 Accounts payable
4,700 Dividends 3,000 Service revenue 62,000 Depreciation expense
3,600 Rent revenue 8,600 Retained Earnings (beginning of the year)
21,400 Common Stock 26,900
Exercise 4-17 a1,a2-b (Part Level Submission) (Video) These financial statement items are for Concord...
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