Adam Vega's Landscaping Company has compiled the following list of account balances of various assets, liabilities,...
Adam Vega's Landscaping Company has compiled the following list of account balances of various assets, liabilities, revenues and expenses on December 31, 2016, the end of its first year of operations. Common stock $25,200,
Accounts payable 5,000
Salary expense 9,000
Repairs expense 1,600
Dividends 10,000
Truck 17,000
Equipment 12,600
Notes payable 16,400
Cash 35,200
Supplies expense 3,200
Service revenue 43,600
Gasoline expense 1,600
The stockholders' equity for Adam Vega's Landscaping on December 31, 2013 is:
Select one:
A. $55,400
B. $43,400
C. $45,200
D. $45,000
Homework Answers
| Service revenue | 43600 | |
| Less: Expenses | ||
| Salary expense | 9000 | |
| Repairs expense | 1600 | |
| Supplies expense | 3200 | |
| Gasoline expense | 1600 | |
| Total Expenses | 15400 | |
| Net income | 28200 | |
| Common stock | 25200 | |
| Add: Net income | 28200 | |
| Less: Dividends | -10000 | |
| Stockholders' equity on December 31, 2013 | 43400 | |
| Option B $43,400 is correct |
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Adam Vega's Landscaping Company has compiled the following list
of account balances of various assets, liabilities,...
Adam Vega's Landscaping Company has compiled the following list of account balances of various assets, liabilities,...
Adam Vega's Landscaping Company has compiled the following list of account balances of various assets, liabilities, revenues and expenses on December 31, 2016, the end of its first year of operations. Common stock Accounts payable Salary expense Repairs expense Dividends Truck Equipment Notes payable Cash Supplies expense Service revenue Gasoline expense $25,200 5,000 9,000 1,600 10,000 17,000 12,600 16,400 35,200 3,200 43,600 1,600 4. The total liabilities for Adam Vega's Landscaping on December 31, 2016 are (Note: There are 2...
Chapter 1 Adam Vega's Landscaping company hos compiled the following list of account balances of various...
Chapter 1 Adam Vega's Landscaping company hos compiled the following list of account balances of various assests, liabilities, revenues and expenses on December 31, 2016, the end of its first year of operations. Common stock #25, 200 Notes payable 16,400 Accounts payable 5,000 Cash 35,000 Salary expense 9,000 Supplies expense 3,200 Repairs expense 1,600 Service revenue 43,60 Dividends 10,000 Gasoline expense 1,600 Truck 17,000 Equipment 12, 600 (4) The total liabihtes for Adam Vega's Landscaping Dec 31, 2016 ore (Note:...
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