Homework Answers
1. Income Statement -
2. Statement of Retained Earnings -
3. Balance Sheet -
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Use the following for the year ended December 31, 2019 a. Income Statement with proper heading...
Prepare a retained earnings statement for the year ended December 31, 2022. (List items that increase...
Prepare a retained earnings statement for the year ended December 31, 2022. (List items that increase retained earnings first.) CULLUMBER COMPANY Retained Earnings Statement $ < $ These items are taken from the financial statements of Cullumber Company for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages...
Prepare Debit Company's income statement and statement of retained earnings for the year ended December 31,...
Prepare Debit Company's income statement and statement of
retained earnings for the year ended December 31, 20X7
Income Statement Revenue Expenses Total Expenses Net Income Statement of Retained Earnings Beginning Retained Earnings Net Income Less: Dividends Ending Retained Earnings Debit Company Adjusted Trial Balance December 31, 20X7 $4,000 2,000 Cash $6,500 Accounts receivable 8,000 Supplies 1,000 Prepaid Rent (3 months) 2,500 Equipment, net 42,000 Accounts payable Salary payable Unearned revenue (2 month advance) Note payable - long term Common stock...
Prepare an Income statement using the above information. for the Year Ended December 31 Credit Debit...
Prepare an Income statement using the above information.
for the Year Ended December 31 Credit Debit 46,700 11,000 580 600 17,300 7,800 9,160 2,280 Cash Accounts receivable Supplies Prepaid insurance Service trucks Accumulated depreciation Other assets Accounts payable Wages payable Income taxes payable Notes payable, long-term Common stock (4,400 shares outstanding) Additional paid-in capital Retained earnings Service revenue Wages expense Remaining expenses (not detailed; excludes income tax) Income tax expense Totals 12,000 1,986 17,874 4,600 88,180 16,200 33,180 134,720 134,720...
Prepare an income statement and a retained earnings statement for the 2 months ended December 31,...
Prepare an income statement and a retained earnings statement
for the 2 months ended December 31, 2017, The note payable has a
stated interest rate of 6%, and the principal and interest are due
on November 16, 2019.
RUUSU 11al Dalal December 31, 2017 Debit Credit Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment NT$1,180 875 350 1,210 1,200 NT$ 40 Accounts Payable Salaries and Wages Payable Unearned Service Revenue Notes Payable 300 2,000 Interest Payable 15 800...
Prepare a retained earnings statement for the year ended December 31, 2022. (List items that increase...
Prepare a retained earnings statement for
the year ended December 31, 2022. (List items that
increase retained earnings first.)
Prepare a classified balance sheet as of December 31, 2022.
(List Current Assets in order of
liquidity.)
These items are taken from the financial statements of Cullumber Company for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense...
Income Statement and Balance Sheet The following information for Rogers Enterprises is available at December 31,...
Income Statement and Balance Sheet The following information for Rogers Enterprises is available at December 31, 2019, and includes all of Rogers' financial statement amounts except retained earnings: Accounts receivable $72,920 Cash 13,240 Common stock (10,000 shares) 65,000 Income taxes expense 13,000 Income taxes payable 4,150 Interest expense 16,500 Notes payable (due in 10 years) 25,000 Prepaid rent (building) 31,500 Property, plant, and equipment 90,000 Rent expense 135,000 Retained earnings ? Salaries expense 235,200 Salaries payable 15,710 Service revenue 464,000...
• Income Statement for the year ending December 31, 2019 • Statement of Retained Earnings for...
• Income Statement for the year ending December 31, 2019
• Statement of Retained Earnings for the year ending December
31, 2019
• Statement of Stockholders Equity for the year ending
December 31, 2019
• Balance Sheet at December 31, 2019
• Statement of Cash Flows for the year ending December 31,
2018
Note: For Earnings per Share (EPS) calculations, use 10,000
shares of common stock as the weighted average number of shares
outstanding.
Credit Debit 64. 200 2000 5,000...
FIX THE RED BOXES Monty Company Worksheet For the Year Ended December 31, 2022 Adjusted Trial...
FIX THE RED BOXES
Monty Company Worksheet For the Year Ended December 31, 2022 Adjusted Trial Balance Account No. Account Titles Dr. Cr. 101 Cash 112 Accounts Receivable 5,000 10,800 1,800 126 130 1,800 157 27,400 158 200 201 5,200 14,700 6,300 2,600 500 212 230 311 Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Accounts Payable Salaries and Wages Payable Interest Payable Common Stock Retained Earnings Dividends Service Revenue Advertising Expense Supplies Expense Depreciation Expense Insurance Expense Salaries and...
. Prepare an income statement and a statement of shareholders’ equity for the year ended December...
. Prepare an income statement and a statement of
shareholders’ equity for the year ended December 31, 2021, and a
classified balance sheet as of December 31, 2021. Assume that no
common stock was issued during the year and that $5,000 in cash
dividends were paid to shareholders during the year.
Pastina Company sells varlous types of pasta to grocery chains as private label brands. The company's reporting year-end Is December 31. The unadjusted trlal balance as of December 31,...
What us the net income for the year ended 31, Dec. 2019 Deli Company began operations...
What us the net income for the year ended 31, Dec.
2019
Deli Company began operations on January 1, 2019. The following Trial Balance was prepared on December 31, 2019: Credit Account Title Debit Cash $15,500 Accounts Receivable 8,000 Prepaid Rent 2,400 Office Supplies 1,400 Land 25,000 Building 32.000 Equipment 23,000 Accounts Payable Unearned Revenue Notes Payable Donaldson, Capital Donaldson, Withdrawals 6,400 $10,400 2,500 20,000 57.000 Service Revenue 83.900 28,000 18.000 Salaries Expense Rent Expense Truck Expense Office Expense Total...
Prepare a retained earnings statement for the year ended December 31, 2022. (List items that increase retained earnings first.) CULLUMBER COMPANY Retained Earnings Statement $ < $ These items are taken from the financial statements of Cullumber Company for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages...
Prepare Debit Company's income statement and statement of
retained earnings for the year ended December 31, 20X7
Income Statement Revenue Expenses Total Expenses Net Income Statement of Retained Earnings Beginning Retained Earnings Net Income Less: Dividends Ending Retained Earnings Debit Company Adjusted Trial Balance December 31, 20X7 $4,000 2,000 Cash $6,500 Accounts receivable 8,000 Supplies 1,000 Prepaid Rent (3 months) 2,500 Equipment, net 42,000 Accounts payable Salary payable Unearned revenue (2 month advance) Note payable - long term Common stock...
Prepare an Income statement using the above information.
for the Year Ended December 31 Credit Debit 46,700 11,000 580 600 17,300 7,800 9,160 2,280 Cash Accounts receivable Supplies Prepaid insurance Service trucks Accumulated depreciation Other assets Accounts payable Wages payable Income taxes payable Notes payable, long-term Common stock (4,400 shares outstanding) Additional paid-in capital Retained earnings Service revenue Wages expense Remaining expenses (not detailed; excludes income tax) Income tax expense Totals 12,000 1,986 17,874 4,600 88,180 16,200 33,180 134,720 134,720...
Prepare an income statement and a retained earnings statement
for the 2 months ended December 31, 2017, The note payable has a
stated interest rate of 6%, and the principal and interest are due
on November 16, 2019.
RUUSU 11al Dalal December 31, 2017 Debit Credit Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment NT$1,180 875 350 1,210 1,200 NT$ 40 Accounts Payable Salaries and Wages Payable Unearned Service Revenue Notes Payable 300 2,000 Interest Payable 15 800...
Prepare a retained earnings statement for
the year ended December 31, 2022. (List items that
increase retained earnings first.)
Prepare a classified balance sheet as of December 31, 2022.
(List Current Assets in order of
liquidity.)
These items are taken from the financial statements of Cullumber Company for 2022. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Supplies Debt investment (long-term) Trademarks Service revenue Prepaid insurance Maintenance and repairs expense...
• Income Statement for the year ending December 31, 2019
• Statement of Retained Earnings for the year ending December
31, 2019
• Statement of Stockholders Equity for the year ending
December 31, 2019
• Balance Sheet at December 31, 2019
• Statement of Cash Flows for the year ending December 31,
2018
Note: For Earnings per Share (EPS) calculations, use 10,000
shares of common stock as the weighted average number of shares
outstanding.
Credit Debit 64. 200 2000 5,000...
FIX THE RED BOXES
Monty Company Worksheet For the Year Ended December 31, 2022 Adjusted Trial Balance Account No. Account Titles Dr. Cr. 101 Cash 112 Accounts Receivable 5,000 10,800 1,800 126 130 1,800 157 27,400 158 200 201 5,200 14,700 6,300 2,600 500 212 230 311 Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Notes Payable Accounts Payable Salaries and Wages Payable Interest Payable Common Stock Retained Earnings Dividends Service Revenue Advertising Expense Supplies Expense Depreciation Expense Insurance Expense Salaries and...
. Prepare an income statement and a statement of
shareholders’ equity for the year ended December 31, 2021, and a
classified balance sheet as of December 31, 2021. Assume that no
common stock was issued during the year and that $5,000 in cash
dividends were paid to shareholders during the year.
Pastina Company sells varlous types of pasta to grocery chains as private label brands. The company's reporting year-end Is December 31. The unadjusted trlal balance as of December 31,...
What us the net income for the year ended 31, Dec.
2019
Deli Company began operations on January 1, 2019. The following Trial Balance was prepared on December 31, 2019: Credit Account Title Debit Cash $15,500 Accounts Receivable 8,000 Prepaid Rent 2,400 Office Supplies 1,400 Land 25,000 Building 32.000 Equipment 23,000 Accounts Payable Unearned Revenue Notes Payable Donaldson, Capital Donaldson, Withdrawals 6,400 $10,400 2,500 20,000 57.000 Service Revenue 83.900 28,000 18.000 Salaries Expense Rent Expense Truck Expense Office Expense Total...
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