Homework Answers
SWIFTY ENGINEERING SERVICE
Income statement
December 31,2021
| Revenue | ||
| Service revenue | 16046 | |
| Expense | ||
| Rent expense | 5184 | |
| Salaries expense | 3348 | |
| Supplies expense | 848 | |
| Utilities expense | 370 | |
| Total expense | 9750 | |
| Net income | 6296 | |
2) Statement of owner's equity
December 31,2021
| F. Swifty Capital, January 1,2021 | 7020 |
| Add: Net income | 6296 |
| 13316 | |
| Less: F. Swifty Drawings | -4752 |
| F. Swifty Capital, December 31,2021 | 8564 |
3) Balance Sheet
December 31,2021
| Assets | ||
| Current assets | ||
| Cash | 1080 | |
| Account receivable | 1512 | |
| Supplies | 648 | |
| Total Current assets | 3240 | |
| Property, plant and equipment | ||
| Equipment | 6696 | |
| Total Assets | 9936 | |
| Liabilities and owner's equity | ||
| Current liabilities | ||
| Account payable | 878 | |
| Salaries payable | 494 | |
| Total Current liabilities | 1372 | |
| Long term liabilities | 0 | |
| Total liabilities | 1372 | |
| Owner's equity | ||
| F. Swifty Capital, December 31,2021 | 8564 | |
| Total Liabilities and stockholder's equity | 9936 | |
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prepare income statement
1.prepare income statement
2. prepare statement of owners equity
3.prepare a balance sheet...
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Question 50 of 52 < > -/1 E View Policies Current Attempt in Progress Carla Vista Floors has year-end account balances of Sales Revenue $673,000, Interest Revenue $2,600. Cost of Goods Sold $411,200, Salaries and Wages Expense $95,000, Administrative Expense $64.000, and Income Tax Expense $48,200. Prepare a multiple-step income statement. Carla Vista Floors Income Statement Year ended December 31, 2020 + . .
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