Just need help with the net income portion. Please and thank you!
Homework Answers
Net income=Consulting revenue+Rental revenue-Salaries expense-Rent expense-Selling and administrative expense
=(35000+24000-21000-13000-9000)
which is equal to
=$16000
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Just need help with the net income portion. Please and thank
you!
Problem 1-4A Preparing a...
Homework Problem 1-4A Preparing a statement of owner's equity LO P2 As of December 31, 2017....
Homework Problem 1-4A Preparing a statement of owner's equity LO P2 As of December 31, 2017. Armani Company's financial records show the following items and amounts $11.96 10,900 7.900 6.900 26,800 Accounts receivable Supplies Equipment Accounts payable A. Armani, Capital, Dec. 31, 2016 A. Armani, Capital, Dec. 31, 2017 A. Armani, withdrawals Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expen 10,800 14,989 25,880 21.909 13, see Required: Prepare a yearend statement of owner's equity for Armani...
As of December 31, 2017, Armani Company's financial records show the following items and amounts Cash...
As of December 31, 2017, Armani Company's financial records show the following items and amounts Cash Accounts receivable Supplies Equipment Accounts payable A. Armani, Capital, Dec. 31, 2016 A. Armani, Capital, Dec. 31, 2017 A. Armani, Withdrawals Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $10, 200 9, 200 6,200 5, 200 23,400 4, 2ΘΘ 7, 4ΘΘ 13, 200 33,400 22,400 20, 2ΘΘ 12,200 8, 200 Required: Prepare a yearend statement of owner's equity for Armani...
As of December 31, 2017 Armani Company's financial records show the following items and amounts. Cash...
As of December 31, 2017 Armani Company's financial records show the following items and amounts. Cash Accounts receivable Supplies Equipment Accounts payable A. Armani, Capital, Dec. 31, 2016 A. Armani, Capital, Dec. 31, 2017 A. Armani, Withdrawals Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $10,000 9,000 6,000 5,000 23,000 4,000 7,000 13,000 33,eee 22,000 20,000 12,000 8,000 Note: Early in 2017, the owner invested $1,000 cash in the business. Required: Prepare the 2017 year-end income...
As of December 31, 2017, Armani Company’s financial records show the following items and amounts. As...
As of December 31, 2017, Armani Company’s financial records show
the following items and amounts.
As of December 31, 2017, Armani Company's financial records show the following items and amounts Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec. 31, 2016 Retained earnings, Dec. 31, 2017 Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $11,900 10,900 7,900 6,900 15,700 14,000 5,900 7,900 14,900 36,800 25,800 21,900 13,900 9,900 Required: Prepare a yearend...
Problem 1-5A Preparing a balance sheet LO P2 As of December 31, 2017, Armani Company's financial...
Problem 1-5A Preparing a balance sheet LO P2 As of December 31, 2017, Armani Company's financial records show the following items and amounts. Cash Accounts receivable Supplies Equipment Accounts payable A. Armani, Capital, Dec. 31, 2016 A. Armani, Capital, Dec. 31, 2017 A. Armani, Withdrawals Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $11,600 10,600 7,600 6,600 26,200 5,600 10,200 14,600 36,200 25,200 21,680 13,600 9,600 Note: Early in 2017, the owner invested $1,000 cash in...
Problem 1-5A Preparing a balance sheet LO P2 As of December 31, 2017, Armani Company's financial...
Problem 1-5A Preparing a balance sheet LO P2 As of December 31, 2017, Armani Company's financial records show the following items and amounts. Cash Accounts receivable Supplies Equipment Accounts payable A. Armani, Capital, Dec. 31, 2016 A. Armani, Capital, Dec. 31, 2017 A. Armani, Withdrawals Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $10,300 9,300 6,300 5,300 23,600 4,300 7,600 13,300 33,600 22,600 20,300 12,300 8,300 Note: Early in 2017, the owner invested $1,000 cash in...
Required information [The following information applies to the questions displayed below.) On October 1, Ebony Ernst...
Required information [The following information applies to the questions displayed below.) On October 1, Ebony Ernst organized Ernst Consulting, on October 3. the owner contributed $85.460 in assets to launch the business. On October 31, the company's records show the following items and amounts. $ $ Cash Accounts receivable office supplies Land Office equipment Accounts payable Owner investments 6,650 Cash withdrawals by owner 15,520 Consulting revenue 4,640 Rent expense 46,000 salaries expense 19,560 Telephone expense 9,890 Miscellaneous expenses 85,460 3,490...
Required: Prepare a year-end statement of owner's equity for Armani Company. Note: The owner invested a...
Required: Prepare a year-end statement of owner's equity for Armani Company. Note: The owner invested a total of $1,700 cash during the year. ARMANI COMPANY Statement of Owner's Equity For Year Ended December 31, 2019 A. Armani, Capital, December 31, 2018 A. Armani, Capital, December 31, 2019 Required information As of December 31, 2019, Armani Company's financial records show the following items and amounts. Cash Accounts receivable Supplies Equipment Accounts payable A. Armani, Capital, Dec. 31, 2018 A. Armani, Capital,...
as of December 31, 2017, Armani Company’s financial records show the following items and amounts. prepare...
as of December 31, 2017, Armani Company’s financial records
show the following items and amounts. prepare a year end statement
of owners’s equity of Am
As of December 31, 2017, Armani Company's financial records show the following items and amounts. Cash $11,100 10,100 7,100 6,100 9,300 18,000 5,100 7,100 14,100 35,200 24,200 21,100 13,100 9,100 Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec.31, 2016 Retained earnings, Dec. 31, 2017 Dividends Consulting revenue Rental revenue Salaries expense Rent...
As of December 31, 2017, Armani Company’s financial records show the following items and amounts. Cash...
As of December 31, 2017, Armani Company’s financial records show
the following items and amounts.
Cash
$
11,200
Accounts receivable
10,200
Supplies
7,200
Equipment
6,200
Accounts payable
9,100
Common stock
18,500
Retained earnings, Dec. 31, 2016
5,200
Retained earnings, Dec. 31, 2017
7,200
Dividends
14,200
Consulting revenue
35,400
Rental revenue
24,400
Salaries expense
21,200
Rent expense
13,200
Selling and administrative expenses
9,200
As of December 31, 2017, Armani Company's financial records show the following items and amounts Cash Accounts receivable...
Homework Problem 1-4A Preparing a statement of owner's equity LO P2 As of December 31, 2017. Armani Company's financial records show the following items and amounts $11.96 10,900 7.900 6.900 26,800 Accounts receivable Supplies Equipment Accounts payable A. Armani, Capital, Dec. 31, 2016 A. Armani, Capital, Dec. 31, 2017 A. Armani, withdrawals Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expen 10,800 14,989 25,880 21.909 13, see Required: Prepare a yearend statement of owner's equity for Armani...
As of December 31, 2017, Armani Company's financial records show the following items and amounts Cash Accounts receivable Supplies Equipment Accounts payable A. Armani, Capital, Dec. 31, 2016 A. Armani, Capital, Dec. 31, 2017 A. Armani, Withdrawals Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $10, 200 9, 200 6,200 5, 200 23,400 4, 2ΘΘ 7, 4ΘΘ 13, 200 33,400 22,400 20, 2ΘΘ 12,200 8, 200 Required: Prepare a yearend statement of owner's equity for Armani...
As of December 31, 2017 Armani Company's financial records show the following items and amounts. Cash Accounts receivable Supplies Equipment Accounts payable A. Armani, Capital, Dec. 31, 2016 A. Armani, Capital, Dec. 31, 2017 A. Armani, Withdrawals Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $10,000 9,000 6,000 5,000 23,000 4,000 7,000 13,000 33,eee 22,000 20,000 12,000 8,000 Note: Early in 2017, the owner invested $1,000 cash in the business. Required: Prepare the 2017 year-end income...
As of December 31, 2017, Armani Company’s financial records show
the following items and amounts.
As of December 31, 2017, Armani Company's financial records show the following items and amounts Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec. 31, 2016 Retained earnings, Dec. 31, 2017 Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $11,900 10,900 7,900 6,900 15,700 14,000 5,900 7,900 14,900 36,800 25,800 21,900 13,900 9,900 Required: Prepare a yearend...
Problem 1-5A Preparing a balance sheet LO P2 As of December 31, 2017, Armani Company's financial records show the following items and amounts. Cash Accounts receivable Supplies Equipment Accounts payable A. Armani, Capital, Dec. 31, 2016 A. Armani, Capital, Dec. 31, 2017 A. Armani, Withdrawals Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $11,600 10,600 7,600 6,600 26,200 5,600 10,200 14,600 36,200 25,200 21,680 13,600 9,600 Note: Early in 2017, the owner invested $1,000 cash in...
Problem 1-5A Preparing a balance sheet LO P2 As of December 31, 2017, Armani Company's financial records show the following items and amounts. Cash Accounts receivable Supplies Equipment Accounts payable A. Armani, Capital, Dec. 31, 2016 A. Armani, Capital, Dec. 31, 2017 A. Armani, Withdrawals Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $10,300 9,300 6,300 5,300 23,600 4,300 7,600 13,300 33,600 22,600 20,300 12,300 8,300 Note: Early in 2017, the owner invested $1,000 cash in...
Required information [The following information applies to the questions displayed below.) On October 1, Ebony Ernst organized Ernst Consulting, on October 3. the owner contributed $85.460 in assets to launch the business. On October 31, the company's records show the following items and amounts. $ $ Cash Accounts receivable office supplies Land Office equipment Accounts payable Owner investments 6,650 Cash withdrawals by owner 15,520 Consulting revenue 4,640 Rent expense 46,000 salaries expense 19,560 Telephone expense 9,890 Miscellaneous expenses 85,460 3,490...
Required: Prepare a year-end statement of owner's equity for Armani Company. Note: The owner invested a total of $1,700 cash during the year. ARMANI COMPANY Statement of Owner's Equity For Year Ended December 31, 2019 A. Armani, Capital, December 31, 2018 A. Armani, Capital, December 31, 2019 Required information As of December 31, 2019, Armani Company's financial records show the following items and amounts. Cash Accounts receivable Supplies Equipment Accounts payable A. Armani, Capital, Dec. 31, 2018 A. Armani, Capital,...
as of December 31, 2017, Armani Company’s financial records
show the following items and amounts. prepare a year end statement
of owners’s equity of Am
As of December 31, 2017, Armani Company's financial records show the following items and amounts. Cash $11,100 10,100 7,100 6,100 9,300 18,000 5,100 7,100 14,100 35,200 24,200 21,100 13,100 9,100 Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec.31, 2016 Retained earnings, Dec. 31, 2017 Dividends Consulting revenue Rental revenue Salaries expense Rent...
As of December 31, 2017, Armani Company’s financial records show
the following items and amounts.
Cash
$
11,200
Accounts receivable
10,200
Supplies
7,200
Equipment
6,200
Accounts payable
9,100
Common stock
18,500
Retained earnings, Dec. 31, 2016
5,200
Retained earnings, Dec. 31, 2017
7,200
Dividends
14,200
Consulting revenue
35,400
Rental revenue
24,400
Salaries expense
21,200
Rent expense
13,200
Selling and administrative expenses
9,200
As of December 31, 2017, Armani Company's financial records show the following items and amounts Cash Accounts receivable...
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