Homework Answers
![ARMANI COMPANY Statement of Owners Equity For Year Ended March 31, 2017 A. Armani, Capital, December 31,2016 $4,200 Add: Owners Investment [mentioned in question] $1,200 $15,200 S20,600 $13,200 $7,400 Add: Net Income [Refer working Note 1] Less: Withdrawals of Owner A. Armani, Capital, December 31,2017 Working Note 1 - Calculation of Net Income for the year 2017 Revenue: Consulting Revenue $33,400 Rental Revenue $22,400 Total Revenue $55,800 Less: Expenses $20,200 $12,200 $8,200 Salaries Expense Rent Expenses Selling and Administrative Salaries Total Expenses $40,600 Net Income S15,200](http://img.homeworklib.com/questions/ee645460-4704-11ea-a7a7-cb03fa8e1276.png?x-oss-process=image/resize,w_560)
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As of December 31, 2017, Armani Company's financial records show the following items and amounts Cash...
As of December 31, 2017, Armani Company’s financial records show the following items and amounts. Cash...
As of December 31, 2017, Armani Company’s financial records show
the following items and amounts.
Cash
$
11,200
Accounts receivable
10,200
Supplies
7,200
Equipment
6,200
Accounts payable
9,100
Common stock
18,500
Retained earnings, Dec. 31, 2016
5,200
Retained earnings, Dec. 31, 2017
7,200
Dividends
14,200
Consulting revenue
35,400
Rental revenue
24,400
Salaries expense
21,200
Rent expense
13,200
Selling and administrative expenses
9,200
As of December 31, 2017, Armani Company's financial records show the following items and amounts Cash Accounts receivable...
As of December 31, 2017, Armani Company’s financial records show the following items and amounts. As...
As of December 31, 2017, Armani Company’s financial records show
the following items and amounts.
As of December 31, 2017, Armani Company's financial records show the following items and amounts Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec. 31, 2016 Retained earnings, Dec. 31, 2017 Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $11,900 10,900 7,900 6,900 15,700 14,000 5,900 7,900 14,900 36,800 25,800 21,900 13,900 9,900 Required: Prepare a yearend...
As of December 31, 2017, Armani Company's financial records show the following items and amounts Cash...
As of December 31, 2017, Armani Company's financial records show the following items and amounts Cash Accounts receivable Supplies Equipment Accounts payable A. Armani, Capital, Dec. 31, 2016 A. Armani, Capital, Dec. 31, 2017 A. Armani, Withdrawals Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $10,800 9, 8ΘΘ 6,800 5, 800 24, 600 4, 800 8,600 13,800 34, 600 23,600 20, 800 12, 800 8,800 Note: Early in 2017, the owner invested $1,000 cash in the...
As of December 31, 2017 Armani Company's financial records show the following items and amounts. Cash...
As of December 31, 2017 Armani Company's financial records show the following items and amounts. Cash Accounts receivable Supplies Equipment Accounts payable A. Armani, Capital, Dec. 31, 2016 A. Armani, Capital, Dec. 31, 2017 A. Armani, Withdrawals Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $10,000 9,000 6,000 5,000 23,000 4,000 7,000 13,000 33,eee 22,000 20,000 12,000 8,000 Note: Early in 2017, the owner invested $1,000 cash in the business. Required: Prepare the 2017 year-end income...
as of December 31, 2017, Armani Company’s financial records show the following items and amounts. prepare...
as of December 31, 2017, Armani Company’s financial records
show the following items and amounts. prepare a year end statement
of owners’s equity of Am
As of December 31, 2017, Armani Company's financial records show the following items and amounts. Cash $11,100 10,100 7,100 6,100 9,300 18,000 5,100 7,100 14,100 35,200 24,200 21,100 13,100 9,100 Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec.31, 2016 Retained earnings, Dec. 31, 2017 Dividends Consulting revenue Rental revenue Salaries expense Rent...
As of December 31, 2017, Armani Company’s financial records show the following items and amounts. As...
As of December 31, 2017, Armani Company’s financial records show
the following items and amounts.
As of December 31, 2017, Armani Company's financial records show the following items and amounts Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec. 31, 2016 Retained earnings, Dec. 31, 2017 Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $11,200 10,200 7,200 6,200 9,100 18,500 5,200 7,200 14,200 35,400 24,400 21,200 13,200 9,200 Required: Prepare a year-end...
As of December 31, 2017, Armani Company's financial records show the following items and amounts. Cash...
As of December 31, 2017, Armani Company's financial records show the following items and amounts. Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec. 31, 2016 Retained earnings, Dec. 31, 2017 Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $11; 800 10, 800 7, 8ee 6,800 15,900 13,5ee 5,800 7,80e 14,800 36,600 25,600 21, see 13, see 9. see Required: Prepare a year-end balance sheet for Armani Company ARMANI COMPANY Balance Sheet...
As of December 31, 2017, Armani Company’s financial records show the following items and amounts. As...
As of December 31, 2017, Armani Company’s financial records show
the following items and amounts.
As of December 31, 2017, Armani Company's financial records show the following items and amounts Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec. 31, 2016 Retained earnings, Dec. 31, 2017 Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $11,100 10,100 7,100 6,100 9,300 18,000 5,100 7,100 14,100 35,200 24,200 21,100 13,100 9,100 Required: Prepare the 2017...
Homework Problem 1-4A Preparing a statement of owner's equity LO P2 As of December 31, 2017....
Homework Problem 1-4A Preparing a statement of owner's equity LO P2 As of December 31, 2017. Armani Company's financial records show the following items and amounts $11.96 10,900 7.900 6.900 26,800 Accounts receivable Supplies Equipment Accounts payable A. Armani, Capital, Dec. 31, 2016 A. Armani, Capital, Dec. 31, 2017 A. Armani, withdrawals Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expen 10,800 14,989 25,880 21.909 13, see Required: Prepare a yearend statement of owner's equity for Armani...
As of December 31, 2019, Armani Company's financial records show the following items and amounts. 1...
As of December 31, 2019, Armani Company's financial records show the following items and amounts. 1 1 Part 2 Cash Accounts receivable Supplies Equipment Accounts payable A. Armani, Capital, Dec. 31, 2018 A. Armani, Capital, Dec. 31, 2019 A. Armani, withdrawals Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $11,000 10,000 7,000 6,000 13,000 17,000 21,200 14,000 35,000 24,000 21,000 13,000 9,000 Required: Prepare the 2019 year-end income statement for Armani Company ARMANI COMPANY Income Statement...
As of December 31, 2017, Armani Company’s financial records show
the following items and amounts.
Cash
$
11,200
Accounts receivable
10,200
Supplies
7,200
Equipment
6,200
Accounts payable
9,100
Common stock
18,500
Retained earnings, Dec. 31, 2016
5,200
Retained earnings, Dec. 31, 2017
7,200
Dividends
14,200
Consulting revenue
35,400
Rental revenue
24,400
Salaries expense
21,200
Rent expense
13,200
Selling and administrative expenses
9,200
As of December 31, 2017, Armani Company's financial records show the following items and amounts Cash Accounts receivable...
As of December 31, 2017, Armani Company’s financial records show
the following items and amounts.
As of December 31, 2017, Armani Company's financial records show the following items and amounts Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec. 31, 2016 Retained earnings, Dec. 31, 2017 Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $11,900 10,900 7,900 6,900 15,700 14,000 5,900 7,900 14,900 36,800 25,800 21,900 13,900 9,900 Required: Prepare a yearend...
As of December 31, 2017, Armani Company's financial records show the following items and amounts Cash Accounts receivable Supplies Equipment Accounts payable A. Armani, Capital, Dec. 31, 2016 A. Armani, Capital, Dec. 31, 2017 A. Armani, Withdrawals Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $10,800 9, 8ΘΘ 6,800 5, 800 24, 600 4, 800 8,600 13,800 34, 600 23,600 20, 800 12, 800 8,800 Note: Early in 2017, the owner invested $1,000 cash in the...
As of December 31, 2017 Armani Company's financial records show the following items and amounts. Cash Accounts receivable Supplies Equipment Accounts payable A. Armani, Capital, Dec. 31, 2016 A. Armani, Capital, Dec. 31, 2017 A. Armani, Withdrawals Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $10,000 9,000 6,000 5,000 23,000 4,000 7,000 13,000 33,eee 22,000 20,000 12,000 8,000 Note: Early in 2017, the owner invested $1,000 cash in the business. Required: Prepare the 2017 year-end income...
as of December 31, 2017, Armani Company’s financial records
show the following items and amounts. prepare a year end statement
of owners’s equity of Am
As of December 31, 2017, Armani Company's financial records show the following items and amounts. Cash $11,100 10,100 7,100 6,100 9,300 18,000 5,100 7,100 14,100 35,200 24,200 21,100 13,100 9,100 Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec.31, 2016 Retained earnings, Dec. 31, 2017 Dividends Consulting revenue Rental revenue Salaries expense Rent...
As of December 31, 2017, Armani Company’s financial records show
the following items and amounts.
As of December 31, 2017, Armani Company's financial records show the following items and amounts Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec. 31, 2016 Retained earnings, Dec. 31, 2017 Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $11,200 10,200 7,200 6,200 9,100 18,500 5,200 7,200 14,200 35,400 24,400 21,200 13,200 9,200 Required: Prepare a year-end...
As of December 31, 2017, Armani Company's financial records show the following items and amounts. Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec. 31, 2016 Retained earnings, Dec. 31, 2017 Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $11; 800 10, 800 7, 8ee 6,800 15,900 13,5ee 5,800 7,80e 14,800 36,600 25,600 21, see 13, see 9. see Required: Prepare a year-end balance sheet for Armani Company ARMANI COMPANY Balance Sheet...
As of December 31, 2017, Armani Company’s financial records show
the following items and amounts.
As of December 31, 2017, Armani Company's financial records show the following items and amounts Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, Dec. 31, 2016 Retained earnings, Dec. 31, 2017 Dividends Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $11,100 10,100 7,100 6,100 9,300 18,000 5,100 7,100 14,100 35,200 24,200 21,100 13,100 9,100 Required: Prepare the 2017...
Homework Problem 1-4A Preparing a statement of owner's equity LO P2 As of December 31, 2017. Armani Company's financial records show the following items and amounts $11.96 10,900 7.900 6.900 26,800 Accounts receivable Supplies Equipment Accounts payable A. Armani, Capital, Dec. 31, 2016 A. Armani, Capital, Dec. 31, 2017 A. Armani, withdrawals Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expen 10,800 14,989 25,880 21.909 13, see Required: Prepare a yearend statement of owner's equity for Armani...
As of December 31, 2019, Armani Company's financial records show the following items and amounts. 1 1 Part 2 Cash Accounts receivable Supplies Equipment Accounts payable A. Armani, Capital, Dec. 31, 2018 A. Armani, Capital, Dec. 31, 2019 A. Armani, withdrawals Consulting revenue Rental revenue Salaries expense Rent expense Selling and administrative expenses $11,000 10,000 7,000 6,000 13,000 17,000 21,200 14,000 35,000 24,000 21,000 13,000 9,000 Required: Prepare the 2019 year-end income statement for Armani Company ARMANI COMPANY Income Statement...
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