Homework Answers
| Armani Company | ||
| Income Statement | ||
| For The year Ended December 31, 2019 | ||
| Revenue | ||
| Consulting Revenue | $35,000.00 | |
| Rental Revenue | $24,000.00 | |
| Total Revenue | $59,000.00 | |
| Expense | ||
| Salaries Expense | $21,000.00 | |
| Rent Expense | $13,000.00 | |
| Sellign & Admin Expense | $9,000.00 | |
| Total Expense | $43,000.00 | |
| Net Income | $16,000.00 | |
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As of December 31, 2019, Armani Company's financial records show the following items and amounts. 1...
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...
Required information As of December 31, 2019, Armani Company’s financial records show the following items and...
Required information As of December 31, 2019, Armani Company’s financial records show the following items and amounts. Cash $ 10,100 Accounts receivable 9,100 Supplies 6,100 Equipment 5,100 Accounts payable 11,200 A. Armani, Capital, Dec. 31, 2018 16,100 A. Armani, Capital, Dec. 31, 2019 19,200 A. Armani, Withdrawals 13,100 Consulting revenue 33,200 Rental revenue 22,200 Salaries expense 20,100 Rent expense 12,100 Selling and administrative expenses 8,100 Required: Prepare the 2019 year-end income statement for Armani Company.
Required information As of December 31, 2019, Armani Company’s financial records show the following items and...
Required information As of December 31, 2019, Armani Company’s financial records show the following items and amounts. Cash $ 10,100 Accounts receivable 9,100 Supplies 6,100 Equipment 5,100 Accounts payable 11,200 A. Armani, Capital, Dec. 31, 2018 16,100 A. Armani, Capital, Dec. 31, 2019 19,200 A. Armani, Withdrawals 13,100 Consulting revenue 33,200 Rental revenue 22,200 Salaries expense 20,100 Rent expense 12,100 Selling and administrative expenses 8,100 Required: Prepare the 2019 year-end income statement for Armani Company.
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...
Required Information As of December 31, 2019, Armani Company's financial records show the following items and...
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 Common stock Retained earnings, Dec. 31, 2018 Retained earnings, Dec. 31, 2019 Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $10,100 9. 100 6, 100 5, 100 11,200 14,100 3, 100 5, 100 13,100 33,200 22, 200 20,100 12,100 8, 100 Required: Prepare the 2019 year-end income statement for Armani Company...
Required information As of December 31, 2019, Armani Company’s financial records show the following items and...
Required information As of December 31, 2019, Armani Company’s financial records show the following items and amounts. Cash $ 10,100 Accounts receivable 9,100 Supplies 6,100 Equipment 5,100 Accounts payable 11,200 A. Armani, Capital, Dec. 31, 2018 16,100 A. Armani, Capital, Dec. 31, 2019 19,200 A. Armani, Withdrawals 13,100 Consulting revenue 33,200 Rental revenue 22,200 Salaries expense 20,100 Rent expense 12,100 Selling and administrative expenses 8,100 Required: Prepare a year-end statement of owner’s equity for Armani Company. Note: The owner invested...
Required information As of December 31, 2019, Armani Company's financial records show the following items and...
Required information As of December 31, 2019, Armani Company's financial records show the following items and amounts. 14.10 Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earninge, Dec. 31, 2018 Retained earnings, Dec. 31, 2019 Dividends Consulting revenue Rental revenue Salarios expense Rent expense Selling and administrative expensos $10,900 9.900 6,900 5,900 12,800 14,900 3.900 5.900 13,900 34,800 23,800 20,900 12.900 8,900 Required: Prepare the 2019 year-end income statement for Armani Company. ARMANI COMPANY Income Statement For Year...
Required information As of December 31, 2019, Armani Company's financial records show the following items and...
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 Common stock Retained earnings, Dec. 31, 2018 Retained earnings, Dec. 31, 2019 Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $10,800 9,800 6,800 5,800 12,600 14,800 3,800 5,800 13,800 34,600 23,600 20,800 12,800 8,800 Required: Prepare the 2019 year-end income statement for Armani Company. art 1 of 3 ARMANI COMPANY Income...
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...
Required information As of December 31, 2019, Armani Company's financial records show the following items and...
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 Common stock Retained earnings, Dec. 31, 2018 Retained earnings, Dec. 31, 2019 Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $10,000 9,000 7,000 4,000 11,000 14,000 3,000 5,000 13,000 33,000 22,000 20,000 12,000 8,000 Required: Prepare a year-end balance sheet for Armani Company. ARMANI COMPANY Balance Stat December 31, 2019 Rental...
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 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...
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 Common stock Retained earnings, Dec. 31, 2018 Retained earnings, Dec. 31, 2019 Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $10,100 9. 100 6, 100 5, 100 11,200 14,100 3, 100 5, 100 13,100 33,200 22, 200 20,100 12,100 8, 100 Required: Prepare the 2019 year-end income statement for Armani Company...
Required information As of December 31, 2019, Armani Company's financial records show the following items and amounts. 14.10 Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earninge, Dec. 31, 2018 Retained earnings, Dec. 31, 2019 Dividends Consulting revenue Rental revenue Salarios expense Rent expense Selling and administrative expensos $10,900 9.900 6,900 5,900 12,800 14,900 3.900 5.900 13,900 34,800 23,800 20,900 12.900 8,900 Required: Prepare the 2019 year-end income statement for Armani Company. ARMANI COMPANY Income Statement For Year...
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 Common stock Retained earnings, Dec. 31, 2018 Retained earnings, Dec. 31, 2019 Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $10,800 9,800 6,800 5,800 12,600 14,800 3,800 5,800 13,800 34,600 23,600 20,800 12,800 8,800 Required: Prepare the 2019 year-end income statement for Armani Company. art 1 of 3 ARMANI COMPANY Income...
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...
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 Common stock Retained earnings, Dec. 31, 2018 Retained earnings, Dec. 31, 2019 Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $10,000 9,000 7,000 4,000 11,000 14,000 3,000 5,000 13,000 33,000 22,000 20,000 12,000 8,000 Required: Prepare a year-end balance sheet for Armani Company. ARMANI COMPANY Balance Stat December 31, 2019 Rental...
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