Brief Exercise 5-09 (Part Level Submission) The following information relates to Blue Spruce Corp. for the...
Brief Exercise 5-09 (Part Level Submission)
The following information relates to Blue Spruce Corp. for the
year 2022.
|
Retained earnings, January 1, 2022 |
$55,680 |
Advertising expense |
$2,090 | |||
|---|---|---|---|---|---|---|
|
Dividends during 2022 |
5,800 |
Rent expense |
12,060 | |||
|
Service revenue |
72,500 |
Utilities expense |
3,600 | |||
|
Salaries and wages expense |
32,480 |
Other comprehensive income (net of tax) |
460 |
Compute Net income/Loss
Homework Answers
| Service revenue | $72,500 |
| Less: Expenses | |
| Salaries and wages expense | 32,480 |
| Advertising expense | 2,090 |
| Rent expense | 12,060 |
| Utilities expense | 3,600 |
| $22270 | |
| Other comprehensive income (net of tax) | 460 |
| Net income | $22730 |
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Brief Exercise 5-09 (Part Level Submission)
The following information relates to Blue Spruce Corp. for the...
Brief Exercise 5-09 The following information relates to Cheyenne Corp. for the year 2022. Retained earnings,...
Brief Exercise 5-09
The following information relates to Cheyenne Corp. for the year
2022.
Retained earnings, January 1, 2022
$52,800
Advertising expense
$1,980
Dividends during 2022
5,500
Rent expense
11,440
Service revenue
68,750
Utilities expense
3,410
Salaries and wages expense
30,800
Other comprehensive income (net of tax)
440
COMPUTE THE NET INCOME:
Net Income / Loss: ??
COMPLETE THE COMPREHENSIVE INCOME
STATEMENT:
Net Income/ (Loss) = ??
Other Comprehensive Income/Loss = 440
Comprehensive Income / (Loss) = ??
The following information relates to Skysong, Inc. for the year 2022. Retained earnings, January 1, 2022...
The following information relates to Skysong, Inc. for the year 2022. Retained earnings, January 1, 2022 $39,360 Advertising expense $1,480 Dividends during 2022 4,100 Rent expense 8,530 Service revenue 51,250 Utilities expense 2,540 Salaries and wages expense 22,960 Other comprehensive income (net of tax) 330 After analyzing the data, compute net income. Prepare a comprehensive income statement for the year ending December 31, 2022.
Problem 5-05A a, b1-b3, c-e (Video) The trial balance of Blue Spruce Corp. contained the following...
Problem 5-05A a, b1-b3, c-e (Video) The trial balance of Blue Spruce Corp. contained the following accounts at November 30, the end of the company's fiscal year. Blue Spruce Corp. Trial Balance November 30, 2020 Credit Debit $ 8,500 28,500 42,500 6,100 131,000 $ 27,000 50,500 39,400 50,000 40,000 Cash Accounts Receivable Inventory Supplies Equipment Accumulated Depreciation Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Dividends Sales Revenue Sales Returns and Allowances Cost of Goods Sold Salaries and Wages...
These items are taken from the financial statements of Blue Spruce Corp. for 2017. Retained earnings...
These items are taken from the financial statements of Blue Spruce Corp. for 2017. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages expense Accumulated depreciation-equipment $32,020 2,140 67,020 21,740 11,330 5,120 12,000 12,000 69,350 5,620 1,660 3,180 15,140 2,620 38,350 18,830 Prepare an income statement for the year ended December 31, 2017 Blue...
These items are taken from the financial statements of Blue Spruce Corp. for 2017. Retained earnings...
These items are taken from the financial statements of Blue Spruce Corp. for 2017. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages expense Accumulated depreciation-equipment $32,020 2,140 67,020 21,740 11,330 5,120 12,000 12,000 69,350 5,620 1,660 3,180 15,140 2,620 38,350 18,830 Prepare an income statement for the year ended December 31, 2017. Blue...
These items are taken from the financial statements of Blue Spruce Corp. for 2017. Retained earnings...
These items are taken from the financial statements of Blue Spruce Corp. for 2017. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages expense Accumulated depreciation-equipment $32,020 2,140 67,020 21,740 11,330 5,120 12,000 12,000 69,350 5,620 1,660 3,180 15,140 2,620 38,350 18,830 Prepare an income statement for the year ended December 31, 2017. Blue...
In its income statement for the year ended December 31, 2022, Blue Spruce Corp.reported the following...
In its income statement for the year ended December 31, 2022, Blue Spruce Corp.reported the following condensed data. Operating expenses $729,000 Interest revenue $ 43,000 Cost of goods sold 26,000 Interest expense 1,266,000 Loss on disposal of plant assets 79,000 Net sales 55,000 Other comprehensive income (net of $1,200 tax) 2,209,000 Income tax expense 9,300 Prepare a multiple-step income statement. Blue Spruce Corp. Income Statement Prepare a comprehensive income statement. Blue Spruce Corp. Comprehensive Income Statement
The trial balance for Blue Spruce Corp. appears as follows: Blue Spruce Corp. Trial Balance December...
The trial balance for Blue Spruce Corp. appears as follows: Blue Spruce Corp. Trial Balance December 31, 2022 $260 459 72 158 3520 Cash Accounts Receivable Prepaid Insurance Supplies Equipment Accumulated Depreciation, Equipment Accounts Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Rent Expense $530 338 1060 1230 2631 880 440 $5789 $5789 If service for $154 had been performed but not billed, the adjusting entry to record this would include a: O debit to Service Revenue...
Problem 5-05A a, b1-b3, c-e (Video) The trial balance of Blue Spruce Corp. contained the following...
Problem 5-05A a, b1-b3, c-e (Video) The trial balance of Blue Spruce Corp. contained the following accounts at November 30, the end Blue Spruce Corp. Trial Balance November 30, 2020 Credit Cash Debit $ 8,500 28,600 42,500 6,100 131,000 $ 27,000 50,500 39,400 50,000 40,000 10,500 Accounts Receivable Inventory Supplies Equipment Accumulated Depreciation-Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Dividends Sales Revenue Sales Returns and Allowances Cost of Goods Sold Salaries and Wages Expense Advertising Expense Utilities Expense...
Exercise 5-05 a-b (Part Level Submission) Presented below are transactions related to Blue Spruce Corp.. 1....
Exercise 5-05 a-b (Part Level Submission) Presented below are transactions related to Blue Spruce Corp.. 1. On December 3, Blue Spruce Corp. sold $593,100 of merchandise on account to Whispering Winds Co., terms 2/10, n/30, FOB shipping point. The cost of the merchandise sold was $386,700. 2. On December 8, Whispering Winds Co. was granted an allowance of $28,400 for merchandise purchased on December 3. 3. On December 13, Blue Spruce Corp. received the balance due from Whispering Winds Co....
Brief Exercise 5-09
The following information relates to Cheyenne Corp. for the year
2022.
Retained earnings, January 1, 2022
$52,800
Advertising expense
$1,980
Dividends during 2022
5,500
Rent expense
11,440
Service revenue
68,750
Utilities expense
3,410
Salaries and wages expense
30,800
Other comprehensive income (net of tax)
440
COMPUTE THE NET INCOME:
Net Income / Loss: ??
COMPLETE THE COMPREHENSIVE INCOME
STATEMENT:
Net Income/ (Loss) = ??
Other Comprehensive Income/Loss = 440
Comprehensive Income / (Loss) = ??
Problem 5-05A a, b1-b3, c-e (Video) The trial balance of Blue Spruce Corp. contained the following accounts at November 30, the end of the company's fiscal year. Blue Spruce Corp. Trial Balance November 30, 2020 Credit Debit $ 8,500 28,500 42,500 6,100 131,000 $ 27,000 50,500 39,400 50,000 40,000 Cash Accounts Receivable Inventory Supplies Equipment Accumulated Depreciation Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Dividends Sales Revenue Sales Returns and Allowances Cost of Goods Sold Salaries and Wages...
These items are taken from the financial statements of Blue Spruce Corp. for 2017. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages expense Accumulated depreciation-equipment $32,020 2,140 67,020 21,740 11,330 5,120 12,000 12,000 69,350 5,620 1,660 3,180 15,140 2,620 38,350 18,830 Prepare an income statement for the year ended December 31, 2017 Blue...
These items are taken from the financial statements of Blue Spruce Corp. for 2017. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages expense Accumulated depreciation-equipment $32,020 2,140 67,020 21,740 11,330 5,120 12,000 12,000 69,350 5,620 1,660 3,180 15,140 2,620 38,350 18,830 Prepare an income statement for the year ended December 31, 2017. Blue...
These items are taken from the financial statements of Blue Spruce Corp. for 2017. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Service revenue Prepaid insurance Maintenance and repairs expense Depreciation expense Accounts receivable Insurance expense Salaries and wages expense Accumulated depreciation-equipment $32,020 2,140 67,020 21,740 11,330 5,120 12,000 12,000 69,350 5,620 1,660 3,180 15,140 2,620 38,350 18,830 Prepare an income statement for the year ended December 31, 2017. Blue...
In its income statement for the year ended December 31, 2022, Blue Spruce Corp.reported the following condensed data. Operating expenses $729,000 Interest revenue $ 43,000 Cost of goods sold 26,000 Interest expense 1,266,000 Loss on disposal of plant assets 79,000 Net sales 55,000 Other comprehensive income (net of $1,200 tax) 2,209,000 Income tax expense 9,300 Prepare a multiple-step income statement. Blue Spruce Corp. Income Statement Prepare a comprehensive income statement. Blue Spruce Corp. Comprehensive Income Statement
The trial balance for Blue Spruce Corp. appears as follows: Blue Spruce Corp. Trial Balance December 31, 2022 $260 459 72 158 3520 Cash Accounts Receivable Prepaid Insurance Supplies Equipment Accumulated Depreciation, Equipment Accounts Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Rent Expense $530 338 1060 1230 2631 880 440 $5789 $5789 If service for $154 had been performed but not billed, the adjusting entry to record this would include a: O debit to Service Revenue...
Problem 5-05A a, b1-b3, c-e (Video) The trial balance of Blue Spruce Corp. contained the following accounts at November 30, the end Blue Spruce Corp. Trial Balance November 30, 2020 Credit Cash Debit $ 8,500 28,600 42,500 6,100 131,000 $ 27,000 50,500 39,400 50,000 40,000 10,500 Accounts Receivable Inventory Supplies Equipment Accumulated Depreciation-Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Dividends Sales Revenue Sales Returns and Allowances Cost of Goods Sold Salaries and Wages Expense Advertising Expense Utilities Expense...
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