Homework Answers
Net income = $16,460
Retained earnings= $134,980
Working
| Income Statement | ||
| For the Year Ended Dec 31, 2018 | ||
| Revenues: | ||
| Fees Earned | $ 187,040.00 | |
| Total Revenues | $ 187,040.00 | |
| Expenses: | ||
| Income tax expense | $ 5,600.00 | |
| Interest expense | $ 5,300.00 | |
| Operating expenses | $ 159,680.00 | |
| Total Expenses | $ 170,580.00 | |
| Net Income | $ 16,460.00 | |
| Statement of Retained earnings | ||
| For the Year Ended Dec 31, 2018 | ||
| Retained Earnings, Jan 1-2018 | $ 118,520.00 | |
| Net Income | $ 16,460.00 | |
| Dividends | $ - | |
| Change In retained Earnings | $ 16,460.00 | |
| Retained Earnings, Dec 31-2018 | $ 134,980.00 | |
Add Answer to:
These items are taken from the financial statements of Carla Vista Ltd. at December 31, 2018:...
These items are taken from the financial statements of Carla Vista Ltd. at December 31, 2018:...
These items are taken from the financial statements of Carla
Vista Ltd. at December 31, 2018: Accounts payable $22,050 Interest
expense $5,300 Accounts receivable 18,780 Interest payable 3,800
Accumulated depreciation—buildings 53,600 Land 185,970 Accumulated
depreciation—equipment 20,470 Long-term investments 30,970 Service
revenue 187,040 Mortgage payable 102,000 Buildings 137,800
Operating expenses 159,680 Cash 28,040 Prepaid insurance 1,400
Common shares 138,000 Retained earnings, January 1 118,520
Equipment 70,100 Supplies 1,840 Income tax expense 5,600
at $32,500 of the mortgage payable will be paid...
The following items are taken from the financial statements of Carla Vista Co. at December 31,...
The following items are taken from the financial statements of Carla Vista Co. at December 31, 2022. Land $195,000 Accounts receivable 22,100 Supplies 9,200 Cash 11,950 Equipment 82,800 Buildings 264,000 Land improvements 46,400 Notes receivable (due in 2023) 6,500 Accumulated depreciation—land improvements 12,000 Common stock 76,000 Retained earnings (December 31, 2022) 493,000 Accumulated depreciation—buildings 33,100 Accounts payable 10,400 Mortgage payable 101,550 Accumulated depreciation—equipment 19,000 Interest payable 3,000 Income taxes payable 14,500 Patents 47,800 Investments in stock (long-term) 71,600 Debt investments...
please help The following items are taken from the financial statements of Carla Vista Co. at...
please help
The following items are taken from the financial statements of Carla Vista Co. at December 31, 2022 Land Accounts receivable Supplies Cash Equipment Buildings Land improvements Notes receivable (due in 2023) Accumulated depreciation-land improvements Common stock Retained earnings (December 31, 2022) Accumulated depreciation--buildings Accounts payable Mortgage payable Accumulated depreciation equipment Interest payable Income taxes payable Patents $195,000 21.800 10,200 11,950 82,800 263,200 45,850 5,500 12.200 77.500 509,000 33.800 9.100 81,300 18.900 3.400 15.600 46.800 Patents Investments in stock...
Exercise 2-4 (a-b) (Part Level Submission) These items are taken from the financial statements of Crane...
Exercise 2-4 (a-b) (Part Level Submission) These items are taken from the financial statements of Crane Ltd. at December 31, 2018 Accounts payable Accounts receivable Accumulated depreciation--buildings Accumulated depreciation-equipment Service revenue Buildings Cash Common shares Equipment Income tax expense $22,050 20,780 51,600 23,470 182,040 135,800 25,040 144,000 70,100 6,200 Interest expense $4,500 Interest payable 2,700 Land 198,370 Long-term investments 27,970 Mortgage payable 105,000 Operating expenses 159,680 Prepaid Insurance 1,500 Retained earnings, January 1 120,520 Supplies 1,440 (a) Calculate net income...
These items are taken from the financial statements of Carla Vista Co, for 2022. Retained earnings...
These items are taken from the financial statements of Carla Vista Co, 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 expense Accumulated depreciation-equipment $33,380 2,150 63,800 18,340 14,300 5,510 23,200 12,000 3,500 6,300 2,100 72,760 6,010 1,650 3,140 15,650 2,660 41,730 21,800 (a2) Prepare a retained...
These items are taken from the financial statements of Carla Vista Co. for 2022. Retained earnings...
These items are taken from the financial statements of Carla Vista Co. for 2022. Retained earnings (beginning of year) $33,380 Utilities expense 2,150 Equipment 63,800 Accounts payable 18,340 Cash 14,300 5,510 Salaries and wage payable Common stock 23,200 Dividends 12,000 Supplies 3,500 Debt investment (long-term) 6,300 Trademarks 2,100 Service revenue 72,760 Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable 6,010 1,650 3,140 15,650 Insurance expense 2,660 Salaries and wages expense 41,730 Accumulated depreciation-equipment 21,800 Prepare an income statement...
These items are taken from the financial statements of Carla Vista Co. for 2022. Retained earnings...
These items are taken from the financial statements of Carla Vista Co. for 2022. Retained earnings (beginning of year) Utilities expense $33,380 2,150 Equipment 63,800 Accounts payable 18,340 Cash 14,300 5,510 Salaries and wage payable Common stock 23,200 Dividends 12,000 Supplies 3,500 Debt investment (long-term) 6,300 Trademarks 2,100 Service revenue 72,760 Prepaid insurance 6,010 Maintenance and repairs expense Depreciation expense Accounts receivable 1,650 3,140 15,650 Insurance expense Salaries and wages expense Accumulated depreciation-equipment 2,660 41,730 21,800 Prepare an income statement...
1. The following items are taken from the financial statements of Cullumber Company at December 31,...
1. The following items are taken from the financial statements of Cullumber Company at December 31, 2022. Land $196,500 Accounts receivable 21,300 Supplies 10,100 Cash 12,000 Equipment 83,100 Buildings 261,400 Land improvements 46,250 Notes receivable (due in 2023) 5,100 Accumulated depreciation—land improvements 13,100 Common stock 73,500 Retained earnings (December 31, 2022) 502,000 Accumulated depreciation—buildings 34,200 Accounts payable 9,300 Mortgage payable 90,150 Accumulated depreciation—equipment 18,700 Interest payable 3,800 Income taxes payable 15,200 Patents 47,100 Investments in stock (long-term) 72,200 Debt investments...
These items are taken from the financial statements of Concord Corp. at December 31, 2018. $100,510...
These items are taken from the financial statements of Concord Corp. at December 31, 2018. $100,510 11,970 4,446 11,248 78,280 58,140 551 Buildings Accounts receivable Prepaid insurance Cash Equipment Land Office expense Income tax expense Depreciation expense Interest expense Common shares Retained earnings (January 1, 2018) Accumulated depreciation-building Accounts payable Income taxes payable Bank loan payable (due July 1, 2020) Accumulated depreciation-equipment Interest payable Sales 190 5,035 2,470 58,900 38,000 43,320 7,980 1,045 88,920 17,784 3,420 13,471 Calculate the net...
These items are taken from the financial statements of Swifty Corp. at December 31, 2018. Buildings...
These items are taken from the financial statements of Swifty Corp. at December 31, 2018. Buildings $179,860 Accounts receivable 21,420 Prepaid insurance 7,956 Cash 20,128 Equipment 140,080 Land 104,040 Office expense 986 Income tax expense 340 Depreciation expense 9,010 Interest expense 4,420 Common shares 105,400 Retained earnings (January 1, 2018) 68,000 Accumulated depreciation-building 77,520 Accounts payable 14,280 Income taxes payable 1,870 Bank loan payable (due July 1, 2020) 159,120 Accumulated depreciation-equipment 31,824 Interest payable 6,120 Sales 24,106 (a) Calculate the...
These items are taken from the financial statements of Carla
Vista Ltd. at December 31, 2018: Accounts payable $22,050 Interest
expense $5,300 Accounts receivable 18,780 Interest payable 3,800
Accumulated depreciation—buildings 53,600 Land 185,970 Accumulated
depreciation—equipment 20,470 Long-term investments 30,970 Service
revenue 187,040 Mortgage payable 102,000 Buildings 137,800
Operating expenses 159,680 Cash 28,040 Prepaid insurance 1,400
Common shares 138,000 Retained earnings, January 1 118,520
Equipment 70,100 Supplies 1,840 Income tax expense 5,600
at $32,500 of the mortgage payable will be paid...
please help
The following items are taken from the financial statements of Carla Vista Co. at December 31, 2022 Land Accounts receivable Supplies Cash Equipment Buildings Land improvements Notes receivable (due in 2023) Accumulated depreciation-land improvements Common stock Retained earnings (December 31, 2022) Accumulated depreciation--buildings Accounts payable Mortgage payable Accumulated depreciation equipment Interest payable Income taxes payable Patents $195,000 21.800 10,200 11,950 82,800 263,200 45,850 5,500 12.200 77.500 509,000 33.800 9.100 81,300 18.900 3.400 15.600 46.800 Patents Investments in stock...
Exercise 2-4 (a-b) (Part Level Submission) These items are taken from the financial statements of Crane Ltd. at December 31, 2018 Accounts payable Accounts receivable Accumulated depreciation--buildings Accumulated depreciation-equipment Service revenue Buildings Cash Common shares Equipment Income tax expense $22,050 20,780 51,600 23,470 182,040 135,800 25,040 144,000 70,100 6,200 Interest expense $4,500 Interest payable 2,700 Land 198,370 Long-term investments 27,970 Mortgage payable 105,000 Operating expenses 159,680 Prepaid Insurance 1,500 Retained earnings, January 1 120,520 Supplies 1,440 (a) Calculate net income...
These items are taken from the financial statements of Carla Vista Co, 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 expense Accumulated depreciation-equipment $33,380 2,150 63,800 18,340 14,300 5,510 23,200 12,000 3,500 6,300 2,100 72,760 6,010 1,650 3,140 15,650 2,660 41,730 21,800 (a2) Prepare a retained...
These items are taken from the financial statements of Carla Vista Co. for 2022. Retained earnings (beginning of year) $33,380 Utilities expense 2,150 Equipment 63,800 Accounts payable 18,340 Cash 14,300 5,510 Salaries and wage payable Common stock 23,200 Dividends 12,000 Supplies 3,500 Debt investment (long-term) 6,300 Trademarks 2,100 Service revenue 72,760 Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable 6,010 1,650 3,140 15,650 Insurance expense 2,660 Salaries and wages expense 41,730 Accumulated depreciation-equipment 21,800 Prepare an income statement...
These items are taken from the financial statements of Carla Vista Co. for 2022. Retained earnings (beginning of year) Utilities expense $33,380 2,150 Equipment 63,800 Accounts payable 18,340 Cash 14,300 5,510 Salaries and wage payable Common stock 23,200 Dividends 12,000 Supplies 3,500 Debt investment (long-term) 6,300 Trademarks 2,100 Service revenue 72,760 Prepaid insurance 6,010 Maintenance and repairs expense Depreciation expense Accounts receivable 1,650 3,140 15,650 Insurance expense Salaries and wages expense Accumulated depreciation-equipment 2,660 41,730 21,800 Prepare an income statement...
These items are taken from the financial statements of Concord Corp. at December 31, 2018. $100,510 11,970 4,446 11,248 78,280 58,140 551 Buildings Accounts receivable Prepaid insurance Cash Equipment Land Office expense Income tax expense Depreciation expense Interest expense Common shares Retained earnings (January 1, 2018) Accumulated depreciation-building Accounts payable Income taxes payable Bank loan payable (due July 1, 2020) Accumulated depreciation-equipment Interest payable Sales 190 5,035 2,470 58,900 38,000 43,320 7,980 1,045 88,920 17,784 3,420 13,471 Calculate the net...
These items are taken from the financial statements of Swifty Corp. at December 31, 2018. Buildings $179,860 Accounts receivable 21,420 Prepaid insurance 7,956 Cash 20,128 Equipment 140,080 Land 104,040 Office expense 986 Income tax expense 340 Depreciation expense 9,010 Interest expense 4,420 Common shares 105,400 Retained earnings (January 1, 2018) 68,000 Accumulated depreciation-building 77,520 Accounts payable 14,280 Income taxes payable 1,870 Bank loan payable (due July 1, 2020) 159,120 Accumulated depreciation-equipment 31,824 Interest payable 6,120 Sales 24,106 (a) Calculate the...
Most questions answered within 3 hours.
-
University Printers has two service departments (Maintenance and
Personnel) and two operating departments (Printing and Developing)....
asked 11 minutes ago -
This journal deals with globalization and its economic effects.
US firms have almost no restrictions on...
asked 11 minutes ago -
A local greenhouse sells coffee-tree saplings. They price their
saplings based on the height of the...
asked 25 minutes ago -
Sleep: Assume the general population gets an
average of 7 hours of sleep per night. You...
asked 28 minutes ago -
Florence, who weighs 540 N, stands on a bathroom scale in an
elevator. What will she...
asked 19 minutes ago -
Estimate the amount of Canadians who are vegans accurate to
within 2% with a 91% confidence...
asked 25 minutes ago -
As two cars move toward each other, the speedometer of one car
reads 57.9 km/h while...
asked 26 minutes ago -
A factory worker pushes a 30.0 kg crate a distance of 5.7 m
along a level...
asked 30 minutes ago -
In one statistics class, students were given one homework
assignment. The professor asked students to find...
asked 49 minutes ago -
(a) Calculate the force needed to bring a 1050 kg car to rest
from a speed...
asked 49 minutes ago -
A box contains 14 large marbles and 19 small marbles. Each
marble is either green or...
asked 1 hour ago -
The results of a one-sample t test were t (18) = 2.11,
p < 0.05. In...
asked 1 hour ago