Homework Answers
Option a is correct ($75,000)
Amount of common stock reported in Corp A's balance sheet = Opening common stock + Additional issue of stock
= $ 60,000 + $ 15,000
= $ 75,000
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For the current year, CorpA reports the following amounts: Advertising...
Tiffany's provides financial services related to investment selections, retirement planning, and general insurance needs. For the...
Tiffany's provides financial services related to investment
selections, retirement planning, and general insurance needs. For
the current year, the company reports the following amounts:
Advertising Expense
$
31,200
Service revenue
$
129,300
Buildings
108,000
Interest Expense
3,500
Salaries Expense
67,800
Utilities Expense
14,500
Accounts Payable
6,300
Equipment
25,700
Cash
6,400
Notes payable
30,000
In addition, the company had common stock of $60,000 at the
beginning of the year and issued an additional $15,000 during the
year. The company...
Riley Inc reports the following amounts at the end of the year (all amounts in $000):...
Riley Inc reports the following amounts at the end of
the year (all amounts in $000):
In addition, the company had common stock of $42,000 at the
beginning of the year and issued an additional $3,500 during the
year. The company also had retained earnings of $28,700 at the
beginning of the year and declared dividends of $1,500 during the
year.
1) Calculate the Net Income (or Net Loss) After
Interest and Taxes
2) Calculate the Total Amount of Current Assets...
Advertising Expense Buildings Salaries Expense95,800Utilities Expense 44,500 ar Payabk: 8,300i Cash $16,500Service Revenue $218,000 108,000 Interest...
Advertising Expense Buildings Salaries Expense95,800Utilities Expense 44,500 ar Payabk: 8,300i Cash $16,500Service Revenue $218,000 108,000 Interest Expense3,500 91,600 1,900 No Payable 30,000 In addition, the company had common stock of $50,000 at the beginning of the year and issued an additional $75,000 during the year. The company also had retained earnings of $10,000 at the beginning of the year and paid dividends of $23,500
Supplie Buildings Advertising expense Equipment Purchase factory for operations. Pay for cost of advertising. Purchase equipment...
Supplie Buildings Advertising expense Equipment Purchase factory for operations. Pay for cost of advertising. Purchase equipment for operations Requir Calcula P1-5B 7.Interest expense Pay for cost of interest. Purchase supplies on credit. Distribute cash to stockholders. Borrow from the bank. Accounts payable 9Dividends 10. Notes payable Required: For each transaction, indicate whether the related account would be classified in the balance sheet as (a) an asset, (tb) a liability, or (c) stockholders' equity; in the income statement as (d) a...
Salaries payable to workers at the end of the year Advertising expense for the year Building...
Salaries payable to workers at the end of the year Advertising expense for the year Building that has been purchased Supplies at the end of the year Retained earn Utilities expense for the year Note payable to the bank Service revenue earned during the year Salary expense for the year Accounts payable to suppliers Dividends paid to shareholder during the year Common stock that has been issued including $8,000 that was issued this26,000 year, this is the ending balance Cash...
c. Income Statement, Statement of Equity, Balance Sheet, Statement of Cash Flow d. Statement of Cash...
c. Income Statement, Statement of Equity, Balance Sheet, Statement of Cash Flow d. Statement of Cash Flows, Income Statement, Statement of Equity, Balance Sheet QUESTION 22 USE THIS INFORMATION TO ANSWER PARTS I, II, & III Advertising Expense $33,500 Service Revenue $127,600 Buildings $150,000 Interest Expense $ 3,500 Salaries Expense $ 65,000 Utilities Expense $ 15,500 Accounts Payable $ 6,400 Equipment $ 27,000 Cash $ 5,500 Notes Payable $30,000 The Company had Common Stock of $100,000 at the beginning of...
Tiffany's provides financial services related to investment selections, retirement planning, and general insurance needs. For the...
Tiffany's provides financial services related to investment selections, retirement planning, and general insurance needs. For the current year, the company reports the following amounts: $33,400 Service Revenue $127,100 Advertising Expense Buildings 149,000 Interest Expense 3,400 Salaries Expense 65,000 Utilities Expense 15,400 Accounts Payable 6,300 Equipment 26,500 Cash 5,400 Notes Payable 29,500 In addition, the company had common stock of $110,000 at the beginning of the year and issued an additional $10,000 during the year. The company also had retained earnings...
can you help me build the income statement. thanks Extra Homework From the following information for...
can you help me build the income statement. thanks
Extra Homework From the following information for 2020 for Logan, Inc. prepare Financial Statements. As a December 31-year end. Accounts Payable Accounts Receivable Accumulated Depreciation Advertising Expense Building Cash Common Stock Cost of Goods Sold Equipment Interest Expense Inventory Depreciation Expense Notes Payable, Long-Term Patent Rent Expense Retained Earnings Sales Salaries Payable Salary Expense Tax Expense Taxes Payable Utilities Expense $200,000 80,000 46,000 19,000 300,000 108,000 300,000 500,000 140,000 5,000 118,000...
Bennett Inc. has the following balances in their accounts at year end. What is their total...
Bennett Inc. has the following balances in their accounts at year end. What is their total equity? Accounts Payable $ 75,000 Accounts Receivable $ 35,700 Retained Earnings $ 57,000 Utilities Expense $ 12,500 Sales Revenue $ 250,000 Buildings $ 150,000 Common stock (contributed capital) $ 200,000 Cash $ 30,000 Equipment $ 84,500 Income taxes payable $ 7,500 Travel expense $ 2,200 Land $ 60,000 Rent Expense $ 150,000 Furniture $ 112,900 Salaries expense $ 55,500 Enter the amount as a...
34 Extra Homework From the following information for 2019 for Logan, Inc. prepare Financial Statements. Assume...
34 Extra Homework From the following information for 2019 for Logan, Inc. prepare Financial Statements. Assume a December 31-year end. Accounts Payable $200,000 80,000 46,000 19,000 300,000 108,000 300,000 500,000 Accounts Recelvable Accumulated Depreciation Advertising Expense Building Cash Common Stock Cost of Goods Sold Equipment Interest Expense 5,000 118,000 28,000 10,000 50,000 75,000 171,000 825,000 60,000 100,000 18,000 9,000 40,000 Depreciation Expense Notes Payable, Long-Term Patent Rent Expense Retained Earnings Sales Salaries Payable Salary Expense Tax Expense Taxes Payable Utilities...
Tiffany's provides financial services related to investment
selections, retirement planning, and general insurance needs. For
the current year, the company reports the following amounts:
Advertising Expense
$
31,200
Service revenue
$
129,300
Buildings
108,000
Interest Expense
3,500
Salaries Expense
67,800
Utilities Expense
14,500
Accounts Payable
6,300
Equipment
25,700
Cash
6,400
Notes payable
30,000
In addition, the company had common stock of $60,000 at the
beginning of the year and issued an additional $15,000 during the
year. The company...
Riley Inc reports the following amounts at the end of
the year (all amounts in $000):
In addition, the company had common stock of $42,000 at the
beginning of the year and issued an additional $3,500 during the
year. The company also had retained earnings of $28,700 at the
beginning of the year and declared dividends of $1,500 during the
year.
1) Calculate the Net Income (or Net Loss) After
Interest and Taxes
2) Calculate the Total Amount of Current Assets...
Advertising Expense Buildings Salaries Expense95,800Utilities Expense 44,500 ar Payabk: 8,300i Cash $16,500Service Revenue $218,000 108,000 Interest Expense3,500 91,600 1,900 No Payable 30,000 In addition, the company had common stock of $50,000 at the beginning of the year and issued an additional $75,000 during the year. The company also had retained earnings of $10,000 at the beginning of the year and paid dividends of $23,500
Supplie Buildings Advertising expense Equipment Purchase factory for operations. Pay for cost of advertising. Purchase equipment for operations Requir Calcula P1-5B 7.Interest expense Pay for cost of interest. Purchase supplies on credit. Distribute cash to stockholders. Borrow from the bank. Accounts payable 9Dividends 10. Notes payable Required: For each transaction, indicate whether the related account would be classified in the balance sheet as (a) an asset, (tb) a liability, or (c) stockholders' equity; in the income statement as (d) a...
Salaries payable to workers at the end of the year Advertising expense for the year Building that has been purchased Supplies at the end of the year Retained earn Utilities expense for the year Note payable to the bank Service revenue earned during the year Salary expense for the year Accounts payable to suppliers Dividends paid to shareholder during the year Common stock that has been issued including $8,000 that was issued this26,000 year, this is the ending balance Cash...
c. Income Statement, Statement of Equity, Balance Sheet, Statement of Cash Flow d. Statement of Cash Flows, Income Statement, Statement of Equity, Balance Sheet QUESTION 22 USE THIS INFORMATION TO ANSWER PARTS I, II, & III Advertising Expense $33,500 Service Revenue $127,600 Buildings $150,000 Interest Expense $ 3,500 Salaries Expense $ 65,000 Utilities Expense $ 15,500 Accounts Payable $ 6,400 Equipment $ 27,000 Cash $ 5,500 Notes Payable $30,000 The Company had Common Stock of $100,000 at the beginning of...
Tiffany's provides financial services related to investment selections, retirement planning, and general insurance needs. For the current year, the company reports the following amounts: $33,400 Service Revenue $127,100 Advertising Expense Buildings 149,000 Interest Expense 3,400 Salaries Expense 65,000 Utilities Expense 15,400 Accounts Payable 6,300 Equipment 26,500 Cash 5,400 Notes Payable 29,500 In addition, the company had common stock of $110,000 at the beginning of the year and issued an additional $10,000 during the year. The company also had retained earnings...
can you help me build the income statement. thanks
Extra Homework From the following information for 2020 for Logan, Inc. prepare Financial Statements. As a December 31-year end. Accounts Payable Accounts Receivable Accumulated Depreciation Advertising Expense Building Cash Common Stock Cost of Goods Sold Equipment Interest Expense Inventory Depreciation Expense Notes Payable, Long-Term Patent Rent Expense Retained Earnings Sales Salaries Payable Salary Expense Tax Expense Taxes Payable Utilities Expense $200,000 80,000 46,000 19,000 300,000 108,000 300,000 500,000 140,000 5,000 118,000...
34 Extra Homework From the following information for 2019 for Logan, Inc. prepare Financial Statements. Assume a December 31-year end. Accounts Payable $200,000 80,000 46,000 19,000 300,000 108,000 300,000 500,000 Accounts Recelvable Accumulated Depreciation Advertising Expense Building Cash Common Stock Cost of Goods Sold Equipment Interest Expense 5,000 118,000 28,000 10,000 50,000 75,000 171,000 825,000 60,000 100,000 18,000 9,000 40,000 Depreciation Expense Notes Payable, Long-Term Patent Rent Expense Retained Earnings Sales Salaries Payable Salary Expense Tax Expense Taxes Payable Utilities...
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