Solution:
Donavan Inc. | |
Balance Sheet | |
Particulars | Amount |
Assets: | |
Cash | $12,000.00 |
Inventory | $15,000.00 |
Buildings | $40,000.00 |
Total Assets | $67,000.00 |
Liabilities and Stockholder's Equity: | |
Liabilities: | |
Accounts Payable | $5,800.00 |
Stockholder's Equity: | |
Common Stock (a) | $29,200.00 |
Retained Earnings (b) | $32,000.00 |
Total Liabilities and stockholder's Equity | $67,000.00 |
Donavan Inc. | |
Income Statement | |
Particulars | Amount |
Revenue | $84,200.00 |
Cost of goods sold (c ) | $54,160.00 |
Salaries and Wages Expense | $10,430.00 |
Net Income (d) | $19,610.00 |
Donavan Inc. | |
Retained Earning Statement | |
Particulars | Amount |
Beginning Retained Earnings | $17,000.00 |
Add: Net Income ( E ) | $19,610.00 |
Less: Dividends | $4,610.00 |
Ending retained earnings | $32,000.00 |
Here are incomplete financial statements for Donavan, Inc. Calculate the missing amounts. DONAVAN, INC. Balance Sheet...
DONAVAN, INC. Balance Sheet Assets Cash Inventory Buildings Total assets $12,000 15,000 40,000 $67,000 Liabilities and Stockholders' Equity Liabilities Accounts payable Stockholders' Equity $5,800 Common stock Retained earnings Total liabilities and stockholders' equity $67,000 DONAVAN, INC. Income Statement $84,200 Revenues Cost of goods sold Salaries and wages expense 10,430 Net Income DONAVAN, INC. Retained Earnings Statement $17,000 Beginning retained earnings Add: Net income Less: Dividends Ending retained earnings 4,610 $32,000
Here are incomplete financial statements for Donavan, Inc. Calculate the missing amounts. DONAVAN, INC. Balance Sheet Assets Cash $ 13,000 Inventory 16,000 Buildings 39,000 Total assets $68,000 Liabilities and Stockholders' Equity Liabilities Accounts payable $5,400 Stockholders' Equity Common stock @ Retained earnings @ Total liabilities and stockholders' equity $68,000 DONAVAN, INC. Income Statement Revenues $84,700 Cost of goods sold Salaries and wages expense 10,430 Net Income DONAVAN, INC. Retained Earnings Statement Beginning retained earnings $18,000 Add: Net income le) Less:...
Balance Sheet Assets Cash Inventory Buildings Total assets $12,000 15,000 40,000 $67,000 Liabilities and Stockholders' Equity iabilities Accounts payable Stockholders' Equity $5,800 Common stock Retained earnings Total liabilities and stockholders' equity $67,000 DONAVAN, INC. Income Statement $84,200 Revenues Cost of goods sold Salaries and wages expense Net Income 10,430 DONAVAN, INC. Retained Earnings Statement $17,000 Beginning retained earnings Add: Net income Less: Dividends Ending retained earnings 4,610 $32,000
* Exercise 1-9 Here are incomplete financial statements for Donavan, Inc. Calculate the missing amounts. Donavan, Inc. Balance Sheet Assets Cash Inventory $7,000 10,000 45,000 Buildings Total assets $62,000 Liabilities and Stockholders' Equity Liabilities $5,000 Accounts payable Stockholders' Equity Common stock Retained earnings Total liabilities and stockholders' equity $62,000 Donavan, Inc. Income Statement $85,000 Revenues Cost of goods sold (c) Salaries and wages expense (10,000) Net Income Donavan, Inc. Retained Earnings Statement Beginning retained earnings $12,000 Add: Net income Less:...
Exercise 1-9 Here are incomplete financial statements for Donavan, Inc. Calculate the missing amounts. DONAVAN, INC. Balance Sheet Assets Cash $ 12,300 Inventory 15,300 Buildings 39,700 Total assets $67,300 Liabilities and Stockholders' Equity Liabilities Accounts payable $ 5,500 Stockholders' Equity Common stock Retained earnings (b) Total liabilities and stockholders' equity $67,300 DONAVAN, INC. Income Statement $85,900 Revenues Cost of goods sold Salaries and wages expense 10,310 Net Income DONAVAN, INC. Retained Earnings Statement Beginning retained earnings $17,300 Add: Net income...
E1-9 Here are incomplete financial statements for Donavan, Inc. DONAVAN, INC. Balance Sheet Liabilities and Stockholders' Equity Liabilities Assets Cash Inventory Buildings Total assets $ 7,000 10,000 45,000 $62,000 Accounts payable $ 5,000 Stockholders' equity Common stock Retained earnings Total liabilities and stockholders' equity $62,000 Income Statement Revenues Cost of goods sold Salaries and wages expense Net income $85,000 10,000 $ (d) Retained Earnings Statement Beginning retained earnings Add: Net income Less: Dividends $12,000 5,000 $27,000 Ending retained earnings Instructions...
Calculate missing amounts E1-9 Here are incomplete financial statements for Donavan, Inc LO 3), AN DONAVAN, INC. Balance Sheet ssets Liabilities and Stockholders' Equity Cash Inventory Buildings 45,000 Stockholders' equity Total assets S62,000 $ 7,000 Liabilities 10,000 Accounts payable S 5,000 Common stock Retained earnings Total liabilities and stockholders' equity $62,000 Income Statement $85,000 Revenues Cost of goods sold Salaries and wages expense Net income 10,000 S (d) Retained Earnings Statement Beginning retained earnings S12,000 Add: Net income Less: Dividends...
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