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Quick Clean, Inc., provides mobile detailing to its customers. The Income Statement for the month ended January 31,...
Bavarian Bar and Grill opened for business in November 2016. During its first two months of...
Bavarian Bar and Grill opened for business in November 2016. During its first two months of operation, the restaurant sold gift certificates in various amounts totaling $9,000, mostly as Christmas presents. They are redeemable for meals within two years of the purchase date, although experience within the industry indicates that 70% of gift certificates are redeemed within one year. Certificates totaling $3,200 were presented for redemption during 2016 for meals having a total price of $3,600. The sales tax rate...
Carlos Perez Delivery Service Work Sheet (Partial) For Month Ended January 31, 2017 Income Statement Account...
Carlos Perez Delivery Service Work Sheet (Partial) For Month Ended January 31, 2017 Income Statement Account Title Debit Credit Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accum. Dent. -- Equinu Accounts Payable Wages Payable Carlos Perez, Capital Carlos Perez, Drawing Consulting Fees Wages Expense 880 Rent Expense 1,100 Supplies Expense 220 Telephone Expense 175 Electricity Expense 320 Insurance Expense 550 Depr. Exp.-Delivery Equip. 400 Miscellaneous Expense 3,700 6,400 Net Income 2.700 6,400 6,400 Balance Sheet Debit Credit 11,000 1,500 1,200...
The following are the transactions of Spotlighter, Inc., for the month of January a. Borrowed $3.940...
The following are the transactions of Spotlighter, Inc., for the month of January a. Borrowed $3.940 from a local bank on a note due in six months. b. Received $4.630 cash from investors and issued common stock to them. c. Purchased $1,000 in equipment, paying $200 cash and promising the rest on a note due in one year. d. Paid $300 cash for supplies. e Bought and received $700 of supplies on account. Prepare a classified balance sheet for Spotlighter,...
ACME, Inc. Income Statement Month Ended July 31, 2018 Revenues: Sales  
ACME, Inc. Income Statement Month Ended July 31, 2018 Revenues: Sales 99,000 Expenses: Wages Expense 25,000 Rent Expense 12,000 Gasoline Expense 2,400 Utilities Expense 6,000 Supplies Expense 400 Depreciation Expense-Del Van 3,000 Depreciation Expense-Equip 10,000 Total Expenses 58,800 Net Income 40,200 ACME, Inc. Statement of Retained Earnings Month Ended July 31, 2018 Retained Earnings, July 1, 2012 39,100 Plus: Net Income for July 40,200 Less: Dividends 6,000 Increase in Retained Earnings 34,200 Retained Earnings, July 31, 2012 73,300 ACME, Inc. Balance Sheet July 31, 2018 Assets Liabilities Current Assets: Current Liabilities: Cash 42,000 Accounts Payable 4,000 Accounts Receivable 8,000 Sales Tax Payable 4,500 Inventory 800 Total...
The income statement for the Splish Brothers Inc for the month ended July 31 shows Service...
The income statement for the Splish Brothers Inc for the month ended July 31 shows Service Revenue $18.250, Salaries and Wages Expense $9.220. Maintenance and Repairs Expense $3,560, and Income Tax Expense $1.500. The statement of retained earnings shows an opening balance for Retained Earnings of $20,820 and Dividends $1,800 (a) Prepare dosing journal entries. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when the...
Lenny' s Lawn Service. Inc. Income Statement for the Month Ended July 31, 2019. Account #...
Lenny' s Lawn Service. Inc. Income Statement for the Month Ended
July 31, 2019.
Account # 100 Cash Journal Page # Credit Balance Beginning Balance 2019 Month-Day 7-1 7-1 7-1 7-1 Debit 38,250.00 35,000.00 78,850.00 7-1 43,500.00 500.00 6,000.00 7-7 7-10 7-12 7-14 6,500.00 3,500.00 7,500.00 7-15 2,585.000 38,250.00 Dr 73,250.00 Dr 152,100.00 Dr 108,600.00 Dr 108,100.00 Dr 102,100.00 Dr 108,600.00 Dr 112,100.00 Dr 104,600.00 Dr 107,185.00 Dr 86,185.00 Dr 116,185.00 Dr 109,335.00 Dr 137,835.00 Dr 138,335.00 Dr 142, 135.00...
Salsa Inc Income Statement For the month ended August 31,20X1 Service revenue Expenses Salaries expense Rent...
Salsa Inc Income Statement For the month ended August 31,20X1 Service revenue Expenses Salaries expense Rent expense Interest expense Utilities expense Other expense $ 50,000 10,000 5,000 4,000 8,000 Total expenses Net Income $_200,000 Salsa Inc. Statement of Stockholders' Equity For the month ended August 31,20X1 Common Stock $ 20,000 8,000 Retained Earnings $ 19,000 Total Stockholders' Equity Beginning balances - Aug 1 Add: New stock issuances Add: Net income Less: Dividends $ 39,000 8,000 200,000 200,000 Ending balances -...
Statement of Cash Flows Month Ended December 31, 2015 Cash flows from Operating activities Receipts: Collections...
Statement of Cash Flows Month Ended December 31, 2015 Cash flows from Operating activities Receipts: Collections from customers 5100 Payments. For rent -1500 For salanes -1500 For utilities -300 -330D Net cash provided (used) by operating activities 1800 Cash flows from investing activities Acquisition of Land -20000 Net cash provided (used) by investing activities Cash flows from financing activities Owner contribution 81000 Owner withdrawal Net cash provided (used) by financing activities Net increase (decrease in cash Cash balance, December 1,...
SPARKLE CLEANING SERVICE Problem Data For the Month Ended July 31, 2016 Fred Severini opened SPARKLE...
SPARKLE CLEANING SERVICE Problem Data For the Month Ended July 31, 2016 Fred Severini opened SPARKLE Cleaning Service on July 1, 2016. During July, the company completed the following transactions. July 1 Stockholders invested cash in the business in exchange for common stock. $15,000 1 Purchased a used cleaning truck on account. $12,000 3 Purchased cleaning supplies on account. $1,800 5 Paid on a one-year insurance policy, effective July 1. $2,100 12 Billed customers for cleaning services. $4,400 18 Paid...
Southwest Land Design Income Statement For the Month Ending January 31, 20XX Advertising Revenue $ Expenses...
Southwest Land Design Income Statement For the Month Ending January 31, 20XX Advertising Revenue $ Expenses Wages & Salaries Expense Commissions Expense Total Expenses Net Income $ Southwest Land Design Balance Sheet January 31, 20XX $ Assets Cash Accounts receivable Land Office Equipment Building Total Assets Liabilities and Equity Liabilities Commissions Payable Notes Payable Total Liabilities $ Equity White Capital, January 31, 20XX Total Liabilities & Equity Jennifer White recently formed Southwest Land Design to fill a need for designing,...
Carlos Perez Delivery Service Work Sheet (Partial) For Month Ended January 31, 2017 Income Statement Account Title Debit Credit Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accum. Dent. -- Equinu Accounts Payable Wages Payable Carlos Perez, Capital Carlos Perez, Drawing Consulting Fees Wages Expense 880 Rent Expense 1,100 Supplies Expense 220 Telephone Expense 175 Electricity Expense 320 Insurance Expense 550 Depr. Exp.-Delivery Equip. 400 Miscellaneous Expense 3,700 6,400 Net Income 2.700 6,400 6,400 Balance Sheet Debit Credit 11,000 1,500 1,200...
The following are the transactions of Spotlighter, Inc., for the month of January a. Borrowed $3.940 from a local bank on a note due in six months. b. Received $4.630 cash from investors and issued common stock to them. c. Purchased $1,000 in equipment, paying $200 cash and promising the rest on a note due in one year. d. Paid $300 cash for supplies. e Bought and received $700 of supplies on account. Prepare a classified balance sheet for Spotlighter,...
The income statement for the Splish Brothers Inc for the month ended July 31 shows Service Revenue $18.250, Salaries and Wages Expense $9.220. Maintenance and Repairs Expense $3,560, and Income Tax Expense $1.500. The statement of retained earnings shows an opening balance for Retained Earnings of $20,820 and Dividends $1,800 (a) Prepare dosing journal entries. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when the...
Lenny' s Lawn Service. Inc. Income Statement for the Month Ended
July 31, 2019.
Account # 100 Cash Journal Page # Credit Balance Beginning Balance 2019 Month-Day 7-1 7-1 7-1 7-1 Debit 38,250.00 35,000.00 78,850.00 7-1 43,500.00 500.00 6,000.00 7-7 7-10 7-12 7-14 6,500.00 3,500.00 7,500.00 7-15 2,585.000 38,250.00 Dr 73,250.00 Dr 152,100.00 Dr 108,600.00 Dr 108,100.00 Dr 102,100.00 Dr 108,600.00 Dr 112,100.00 Dr 104,600.00 Dr 107,185.00 Dr 86,185.00 Dr 116,185.00 Dr 109,335.00 Dr 137,835.00 Dr 138,335.00 Dr 142, 135.00...
Salsa Inc Income Statement For the month ended August 31,20X1 Service revenue Expenses Salaries expense Rent expense Interest expense Utilities expense Other expense $ 50,000 10,000 5,000 4,000 8,000 Total expenses Net Income $_200,000 Salsa Inc. Statement of Stockholders' Equity For the month ended August 31,20X1 Common Stock $ 20,000 8,000 Retained Earnings $ 19,000 Total Stockholders' Equity Beginning balances - Aug 1 Add: New stock issuances Add: Net income Less: Dividends $ 39,000 8,000 200,000 200,000 Ending balances -...
Statement of Cash Flows Month Ended December 31, 2015 Cash flows from Operating activities Receipts: Collections from customers 5100 Payments. For rent -1500 For salanes -1500 For utilities -300 -330D Net cash provided (used) by operating activities 1800 Cash flows from investing activities Acquisition of Land -20000 Net cash provided (used) by investing activities Cash flows from financing activities Owner contribution 81000 Owner withdrawal Net cash provided (used) by financing activities Net increase (decrease in cash Cash balance, December 1,...
SPARKLE CLEANING SERVICE Problem Data For the Month Ended July 31, 2016 Fred Severini opened SPARKLE Cleaning Service on July 1, 2016. During July, the company completed the following transactions. July 1 Stockholders invested cash in the business in exchange for common stock. $15,000 1 Purchased a used cleaning truck on account. $12,000 3 Purchased cleaning supplies on account. $1,800 5 Paid on a one-year insurance policy, effective July 1. $2,100 12 Billed customers for cleaning services. $4,400 18 Paid...
Southwest Land Design Income Statement For the Month Ending January 31, 20XX Advertising Revenue $ Expenses Wages & Salaries Expense Commissions Expense Total Expenses Net Income $ Southwest Land Design Balance Sheet January 31, 20XX $ Assets Cash Accounts receivable Land Office Equipment Building Total Assets Liabilities and Equity Liabilities Commissions Payable Notes Payable Total Liabilities $ Equity White Capital, January 31, 20XX Total Liabilities & Equity Jennifer White recently formed Southwest Land Design to fill a need for designing,...
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