Blue Spruce Company | ||
Income Statement | ||
For the Month Ended July 31 | ||
Revenues | ||
Service revenue | 64,500 | |
Rent revenue | 6,500 | |
Total revenue | 71,000 | |
Expenses | ||
Depreciation expense | -7,500 | |
Salaries and wages expense | -56,400 | |
Utilities expense | -15,300 | |
Total expenses | -79,200 | |
Net Loss | ($8,200) |
Blue Spruce Company | ||
Statement of Retained Earnings | ||
For the Month Ended July 31 | ||
Beginning retained earnings | 29,000 | |
Less:Net loss | -8,200 | 0 |
Less:Dividends | -16,000 | |
-24,200 | ||
Retained earnings, Ending | $4,800 |
Blue Spruce Company | ||
Balance Sheet | ||
For the Month Ended July 31 | ||
Assets | Amount | |
Current Assets: | ||
Cash | 9,700 | |
Accounts receivable | 9,500 | |
Total Current Assets | 19,200 | |
Plant,Assets : | ||
Equipment | 15,500 | |
Less:Accumulated Depreciation | -7,300 | |
Total plant asset | 8,200 | |
Total Assets | 27,400 | |
Current Liabilities: | ||
Accounts payable | 5,000 | |
Unearned rent revenue | 1,600 | |
Total Current liabilities | 6,600 | |
Stockholders Equity: | ||
Common stock | 16,000 | |
Retained earnings | 4,800 | |
Total stockholders equity | 20,800 | |
Total Liabilities & Stockholders Equity | 27,400 |
Kindly comment if you need further assistance. Thanks‼!
Blue Spruce Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance...
Bramble Company ended its fiscal year on July 31, 2019. The company’s adjusted trial balance as of the end of its fiscal year is shown below. Exercise 4-08 a-c (Video) Blue Spruce Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below. Blue Spruce Company Adjusted Trial Balance July 31, 2019 Account Titles No. Credit 101 Cash Debit $10,300 9,500 16,500 112 157 158 201...
Plevin Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below. Credit Debit $9,840 8,780 15,900 Plevin Company Adjusted Trial Balance July 31, 2019 No. Account Titles 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable Unearned Rent Revenue 311 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense 726 Salaries and Wages Expense...
Novak Company ended its fiscal year on July 31, 2022. The company's adjusted trial balance as of the end of its fiscal year is shown as follows Credit No. 101 112 Debit $10.900 8,600 15,500 Novak Company Adjusted Trial Balance July 31, 2022 Account Titles Cash Accounts Receivable Equipment - Accumulated Depreciation-Equip. Accounts Payable Unearned Rent Revenue Common Stock Retained Earnings Dividends Service Revenue Rent Revenue Depreciation Expense Salaries and Wages Expense Utilities Expense 157 158 201 208 311 320...
Ayayai Company ended its fiscal year on July 31, 2022. The company's adjusted trial balance as of the end of its fiscal year is shown as follows. No. Debit Credit 101 112 157 $8,600 8,600 16,500 Ayayai Company Adjusted Trial Balance July 31, 2022 Account Titles Cash Accounts Receivable Equipment Accumulated Depreciation-Equip. Accounts Payable Unearned Rent Revenue Common Stock Retained Earnings Dividends Service Revenue 158 201 $7,100 4,200 1,700 208 311 18,100 27,200 320 332 16,500 400 63,500 7,000 429...
please help Flint Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below. Credit Debit $9,850 8,500 15,800 Flint Company Adjusted Trial Balance July 31, 2019 No. Account Titles 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Unearned Rent Revenue 111 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense 726 Salaries...
Novak Company ended its fiscal year on July 31, 2022. The company's adjusted trial balance as of the end of its fiscal year is shown as follows. Credit No. 101 112 Debit $10,900 8,600 15,500 Novak Company Adjusted Trial Balance July 31, 2022 Account Titles Cash Accounts Receivable Equipment Accumulated Depreciation-Equip. Accounts Payable Unearned Rent Revenue Common Stock Retained Earnings Dividends Service Revenue Rent Revenue Depreciation Expense Salaries and Wages Expense Utilities Expense 157 158 201 208 311 320 332...
Pronghorn Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below. 112 Pronghorn Company Adjusted Trial Balance July 31, 2019 No. Account Titles Debit Credit 101 Cash $8,550 Accounts 8,500 Receivable 157 Equipment 15,900 Accumulated 158 Depreciation- $7,300 Equip. 201 Accounts Payable 4,050 208. Unearned Rent 2,400 Revenue 311 Common Stock 17,800 320 Retained Earnings 26,000 332 Dividends 16,500 400 Service Revenue 65,000 429 Rent...
Blossom Company ended its fiscal year on July 31, 2020. The company's adjusted trial balance as of the end of its fiscal year is as follows. Credit Debit $8,000 8,500 15,500 Blossom Company Adjusted Trial Balance July 31, 2020 No. Account Titles 101 Cash 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Unearned Rent Revenue 301 Owner's Capital 306 Owner's Drawings 400 Service Revenue 429 Rent Revenue 711 Depreciation Expense 726 Salaries and Wages Expense 732...
Exercise 4-08 a-c (Video)Sarasota Company ended its fiscal year on July 31, 2019. The company’s adjusted trial balance as of the end of its fiscal year is shown below.Sarasota CompanyAdjusted Trial BalanceJuly 31, 2019No.Account TitlesDebitCredit101Cash$8,700112Accounts Receivable9,400157Equipment16,100158Accumulated Depreciation—Equip.$7,600201Accounts Payable4,100208Unearned Rent Revenue1,700311Common Stock18,200320Retained Earnings25,600332Dividends16,500400Service Revenue65,000429Rent Revenue6,000711Depreciation Expense6,600726Salaries and Wages Expense55,900732Utilities Expense15,000$128,200$128,200Prepare the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)DateAccount Titles and ExplanationDebitCreditJuly 31(To close revenue accounts)July 31(To close expense accounts)July 31(To close net income...
thank you Exercise 4-09 al,a2-b Plevin Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below. Credit Debit $9,840 8,780 15,900 Plevin Company Adjusted Trial Balance July 31, 2019 No. Account Titles 101 Cash Tu 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Unearned Rent Revenue 311 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 429 Rent Revenue 711...