Q: From the information given, prepare a statement of retained earnings. ABC corporation had an initial...
Q: From the information given, prepare a statement of retained earnings.
ABC corporation had an initial investment of SAR50,000 cash and other information was as follows:
|
Accounts payable |
SAR12,000 |
Office furnishings |
SAR40,000 |
|
Accounts receivable |
23,000 |
Dividends |
6,000 |
|
Cash |
17,200 |
Rent expense |
3,600 |
|
Fees earned |
30,000 |
Salaries expense |
6,200 |
|
Notes payable |
4,250 |
Telephone expense |
250 |
Homework Answers
Statement of retained earnings
| Beginning retained earning | 0 |
| Add: Net income | 19950 |
| 19950 | |
| Less: dividend | -6000 |
| Ending retained earnings | 13950 |
Add Answer to:
Q: From the information given, prepare a statement of retained
earnings.
ABC corporation had an initial...
From the information given below, prepare a November income statement, a November statement of retained earnings,...
From the information given below, prepare a November income
statement, a November statement of retained earnings, and a
November 30 balance sheet. On November 1 of the current year,
Victoria Garza, the sole stockholder, began Garza Décor with an
initial investment of $50,000 cash in exchange for common stock. On
November 30, her records showed the following items and
amounts.
Accounts payable
$12,000
Office Furnishings
$40,000
Accounts receivable
19,000
Rent expense
9,600
Cash
21,200
Salaries expense
4,200
Dividends
6,000
Telephone...
For Questions 41-50, review the below information, prepare an Income Statement, Statement of Retained Earnings, and...
For Questions 41-50, review the below information, prepare an Income Statement, Statement of Retained Earnings, and a Balance Sheet, and answer questions posed. On March 1, 2019, Bern Madeoff organized You Can Trust Me Tax Financial Solutions, Inc., a new firm. On March 31, 2019, the company’s records showed the following items and amounts: Cash $ 10,000 Cash Dividends $ 4,360 Accounts Receivable 6,000 Consulting Fees Earned 15,000 Courier Expense 1,000 Office Supplies 4,250 Rent Expense 2,550 Land 50,000 Salaries...
A) prepare an income statement and a retained earnings statement for the year B) prepare a...
A) prepare an income statement and a retained earnings
statement for the year
B) prepare a classified statement of financial position at
July 31
s. mor E4-17 These financial statement items are for Van Dijk Company NV at year-end 2017. Salaries and wages payable $ 2,040 Notes payable (long-term) Salaries and wages expense 50,700 Cash Utilities expense 22,600 Accounts receivable Equipment 30,000 Accumulated depreciation equip. Accounts payable 4,100 Dividends Service revenue 62,000 Depreciation expense Rent revenue 8,500 Retained earnings (beginning...
*40. From the below information from the books of Perfect Services Company, prepare the income statement...
*40. From the below information from the books of Perfect Services Company, prepare the income statement for period ended 9/30/2019. The common stock of the company is $55,000. Cleaning expenses ERP $3,500 Accounts payable $15,300 Accounts receivable 21,600 Office equipment 41,850 Cash 13,400 Dividends paid 7,000 Fees earned Reu 45,000 Salaries expense EXP 9,700 Notes payable Liably 14,000 Rent expense EXP 4,500 Telephone expenses Exp 2,500 Depreciation office equip) EXP 175 Rev- EXP
Prepare an Income Statement and a statement of Retained Earnings sheet. Also, calculate profit margin and...
Prepare an Income Statement and a statement of Retained Earnings
sheet. Also, calculate profit margin and payout ratio.
CDE Company Adjusted Trial Balance Debit Credit Cash $ 3,500 Accounts receivable 8,000 Prepaid Insurance 3,600 Equipment 80,000 Accumulated depreciation $ 12,000 Accounts payable 600 Common Stock 35,000 Retained earnings 14,200 Cash Dividends 7,500 Service fees earned 102,200 Miscellaneous Income 4,200 Salaries Expense 42,800 Rent expense 13,000 Insurance expense 1,800 Depreciation expense 8,000 Income Tax expense 8,800 Income Tax Payable 8,800 Totals...
From the information below calculate the amount of ending Retained Earnings at the end of the...
From the information below calculate the amount of ending Retained Earnings at the end of the year? Beginning Retained Earning Balance $68,000. Interest Income $3,000. Cash 43,000. Sales Revenue 76,000. Cost of Goods Sold 17,200. Postage 3,600. Dividends paid to Shareholder 30,000. Salaries expense 5,200. Accounts Payable 27,000 Common Stock 27,000 Operating Expenses 15,350 Accounts Payable 9,000 A. $119,850 B. $102,650 C. $75,650 D. $156,650 E. $92,850
ESSAY. Write your answer in the space provided or on a separate sheet of paper. 6)...
ESSAY. Write your answer in the space provided or on a separate sheet of paper. 6) From the information given below, prepare in good form a November income statement, a November statement of retained earnings/owners equity, and a November 30 balance sheet. On November 1 of the current year, Victoria Garza, the sole stockholder, began Garza Décor with an initial investment of $50,000 cash in exchange for common stock. On November 30, her records showed the following items and amounts....
Use the following information to prepare Balance Sheet for ABC for the month ended December 31....
Use the following information to prepare Balance Sheet for ABC for the month ended December 31. Telephone expense $ 1,150 Cash 3,000 Accounts payable 1,540 Dividends 800 Fees earned 15,700 Rent expense 1,400 Supplies 140 Accounts receivable 1,500 Computer equipment 17,600 Common stock 10,000 Retained earnings (August 1) 4,320 Wages expense 4,800 Utilities expense 750 Office expense 420 2. Selected transactions from ABC Company from the first month of operations are as fallow: (1) Stockholders invested $12,500 cash in...
For the following corporation ABC, prepare Income statement, Retained Earnings statement, and Balance sheet statement from...
For the following corporation ABC, prepare Income statement, Retained Earnings statement, and Balance sheet statement from the following information data for the year ended Dec,31, 2018. Service revenue $51000 Account receivable $12000 Accounts payable $6000 Building rental expenses $27000 Notes payable $15000 Common stock $30000 Retained earnings ? Equipment $48000 Insurance expense $3000 Supplies $3600 Supplies expense $600 Cash $6000 Dividends $1800
Use the information presented in this worksheet to prepare an income statement, retained earnings statement, and...
Use the information presented in this worksheet to prepare an income statement, retained earnings statement, and balance sheet. Show cell references if possible. ESP Corporation Worksheet for year ended December 31, 2018 Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet Cash 5,900 $ 5,900 $ 5,900 Accounts Receivable 12,450 $ 2,800 $ 15,250 $ 15,250 Office Supplies $ 200 $ 200 $ 200 Prepaid insurance 2,400 $ 1,800 $ 600 $ 600 Equipment 169,000 $ 169,000 $ 169,500...
From the information given below, prepare a November income
statement, a November statement of retained earnings, and a
November 30 balance sheet. On November 1 of the current year,
Victoria Garza, the sole stockholder, began Garza Décor with an
initial investment of $50,000 cash in exchange for common stock. On
November 30, her records showed the following items and
amounts.
Accounts payable
$12,000
Office Furnishings
$40,000
Accounts receivable
19,000
Rent expense
9,600
Cash
21,200
Salaries expense
4,200
Dividends
6,000
Telephone...
A) prepare an income statement and a retained earnings
statement for the year
B) prepare a classified statement of financial position at
July 31
s. mor E4-17 These financial statement items are for Van Dijk Company NV at year-end 2017. Salaries and wages payable $ 2,040 Notes payable (long-term) Salaries and wages expense 50,700 Cash Utilities expense 22,600 Accounts receivable Equipment 30,000 Accumulated depreciation equip. Accounts payable 4,100 Dividends Service revenue 62,000 Depreciation expense Rent revenue 8,500 Retained earnings (beginning...
*40. From the below information from the books of Perfect Services Company, prepare the income statement for period ended 9/30/2019. The common stock of the company is $55,000. Cleaning expenses ERP $3,500 Accounts payable $15,300 Accounts receivable 21,600 Office equipment 41,850 Cash 13,400 Dividends paid 7,000 Fees earned Reu 45,000 Salaries expense EXP 9,700 Notes payable Liably 14,000 Rent expense EXP 4,500 Telephone expenses Exp 2,500 Depreciation office equip) EXP 175 Rev- EXP
Prepare an Income Statement and a statement of Retained Earnings
sheet. Also, calculate profit margin and payout ratio.
CDE Company Adjusted Trial Balance Debit Credit Cash $ 3,500 Accounts receivable 8,000 Prepaid Insurance 3,600 Equipment 80,000 Accumulated depreciation $ 12,000 Accounts payable 600 Common Stock 35,000 Retained earnings 14,200 Cash Dividends 7,500 Service fees earned 102,200 Miscellaneous Income 4,200 Salaries Expense 42,800 Rent expense 13,000 Insurance expense 1,800 Depreciation expense 8,000 Income Tax expense 8,800 Income Tax Payable 8,800 Totals...
ESSAY. Write your answer in the space provided or on a separate sheet of paper. 6) From the information given below, prepare in good form a November income statement, a November statement of retained earnings/owners equity, and a November 30 balance sheet. On November 1 of the current year, Victoria Garza, the sole stockholder, began Garza Décor with an initial investment of $50,000 cash in exchange for common stock. On November 30, her records showed the following items and amounts....
Most questions answered within 3 hours.
-
Recently I purchased a second vehicle for our family. The
vehicle we had was too small...
asked 4 minutes ago -
Two narrow, parallel slits separated by 0.850 mm are illuminated
by 570-nm light, and the viewing...
asked 12 minutes ago -
Write a balanced equation for the double-replacement
precipitation reaction described, using the smallest possible
integer coefficients....
asked 11 minutes ago -
Would You expect the analysis produced by the Legislative
Analyst’s Office to be more or less...
asked 28 minutes ago -
How configuring websites to use a common NFS share could
strengthen business continuity efforts
asked 29 minutes ago -
Arrange the following aqueous solutions in order of increasing
boiling point: 0.25 m NaCl (sodium chloride)...
asked 29 minutes ago -
calculate the mass of forsterite (Mg2SiO4) that contains a
million (1.00•10^6) oxygen
asked 53 minutes ago -
A heat engine has an efficiency of 0.48. Initially,
the engine performs net work W per...
asked 43 minutes ago -
identify the effect on the financial statement on the
following senarios:
b) the clients business mainly...
asked 40 minutes ago -
Whenever two Apollo astronauts were on the surface of the Moon,
a third astronaut orbited the...
asked 50 minutes ago -
Suppose that Marriott’s production process is characterized by
constant returns to scale at all output levels....
asked 50 minutes ago -
If a customer places a buy order for one millisecond only on an
electronic limit order...
asked 58 minutes ago