Parte 4. Prepara un "Income Statement multiple step"Accumulated Depreciation-Bulding15,000Account Receivable38,000Building555,000Note Payable65,000Sales7,030,000Joe Doe, Capital800,000Cost of Merchandise Sold720,000Joe Doe, Drawings25,000Advertising Expense3.200Administrative Expense6,300Utilities Expense1,800Telephone Expense5,000Supplies3,800Salaries Expense12,000Salaries Payable5.000Equipment7,000

Multi-step income statement: The income statement represented in multi-steps with several subtotals,…

Answered: Parte 4. Prepara un "Income Statement…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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27,500 Prepaid rent 4, 000 Inventory 42, 500 Equipment 90, 000 Accumulated depreciation $ 27,000 Accounts payable 30,000 Salaries payable 0 Common stock 100,000 Retained earnings 25,000 Sales revenue 433,000 Cost of goods sold 259, 800 Salaries expense 86, 600 Rent expense 24,000 Depreciation expense 0 Utilities expense 17, 320 Advertising expense 5,770 Totals $ 615,000 $ 615,000 The following year - end adjusting entries are required: Depreciation expense for the year on the equipment is $9,000. Salaries at year - end should be accrued in the amount of $5,600. Required: 1. Prepare and complete a worksheet.Required: Prepare and complete a worksheet. WOLKSTEIN DRUG COMPANY Worksheet December 31, 2024
Please answer iv,v and vi. Thanks
if you have the following information Sales 250,000 Cost of goods sold 260,000 Gross loss (10000) Operating expenses 80,000 Deprecation 20,000 Net income 110000 The following accounts increase Accounts receivable 22000 land 18000 Accounts payable 35000 building 47000 Long term investment 150000 The following accounts decrease: bonds 24000 Rent payable 25000 Common stock 35000 The cash flows from operating activities is: Select one: O a 119000 O b. 118000 O C The corect answer not available Od 115000
Please answer i, ii, iii. Thanks
Seaforce Manufacturing Inc. Income Statement Year Ended December 31, 20X5 Sale $ 340,000 Cost of goods sold $ 250,100 Gross Profit $ 89,900 Operating Expenses $ 55,000 Loss on Sale of equipment $ 2,500 $ 57,500 Profit from Operations $ 32,400 Other expenses Interest Expense $ 3,500 Profit before Income Tax $ 28,900 Income Tax Expense $ 12,000 Profit $ 16,900 Additional Information: Operating expenses include depreciation expense of $10,000 Accounts Payable related to the purchase of inventory Equipment that cost $12,500 was sold at a loss of $2,500 New equipment was purchased during the year for $8,500 Dividends declared and paid in 20X5 totaled $3,000 Common shares were sold for $12,000 cash Interest payable in 20X5 was $800 greater than interest payable in 20X4 The company uses IFRS and do not treat dividends as part of operations Seaforce Manufacturing Inc. comparative balance sheet at December 31 20X5…
Income statement , SFP
answered Accounts Dr Marked out of Cash OMR 50,000 2.00 Accounts receivable 20,000 P Flag question Supplies 10,000 Prepaid expenses 12,000 Buildings-at cost 160,000 10,000 Accumulated depreciation - Buildings 30,000 Notes payable (due in 2 months) 30,000 Accounts payable 12,000 Interest payable 10,000 Unearned service revenue 120,000 Shared- Capital 100,000 Service revenues 40,000 Salaries Expenses 10,000 Depreciation Expenses 30,000 Utilities Expenses 10,000 Dividends / drawings 342,000 342,000 Total If this information was used to prepare a statement of financial position, Total Liabilities should be: Cull lis islO
Post Company Sign Company Item Debit Credit Debit Credit Cash 10,000 15,000 Accounts Receivable 33,000 20,000 Inventory 260,000 80,000 Land 80,000 80,000 Buildings and Equipment 500,000 150,000 Investment in Sign Company 215,000 Cost of Goods Sold 120,000 50,000 Depreciation Expense 25,000 15,000 Other Expenses 15,000 5,000 Dividends Declared 30,000 10,000 Accumulated Depreciation 205,000 105,000 Accounts Payable 40,000 20,000 Notes Payable 200,000 50,000 Common Stock 300,000 100,000 Retained Earnings 318,000 50,000 Sales 200,000 100,000 Income from Sign Company 25,000 $ 1,288,000 $ 1,288,000 $ 425,000 $ 425,000 Additional Information: 1. Post Company acquired 100 percent ownership of Sign Company on January 1, 20X8 for $200,000. The book value of Sign's net assets at acquisition was $150,000. 2. The book value and fair values of Sign's assets and liabilities were equal, except for Sign's buildings and equipment, which were worth $50,000 more than book value. Buildings and equipment…
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T.Co Trading Trial balance as at 31 December 2017 Interest income Revenue Water and electricity Wages Carriage outwards Insurance Inventories @ 1 January 2017 Property, plant and equipment Motor vehicle Accumulated depreciation @ 1 January 2017 - Property, plant and equipment Accumulated depreciation @ 1 January 2017 - Motor vehicle Cash at bank Capital @1 January 2018 Prepayment Drawings Payables Allowance for receivable @ 1 January 2018 Carriage inwards Purchases Bank overdraft Advertising Transport and travelling Rental Discounted received Irrecoverable debt Interest payable Receivables Bank loan 20,000 1,657,000 20,000 105,000 50,000 45,000 65,000 750,000 475,000 100,000 130,000 50,000 500,000 25,000 80,000 110,000 3,000 75,000 800,000 75,000 55,000 25,000 130,000 10,000 10,000 5,000 150,000 300,000 2,910,000 2,910,000
4d

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