User Account

All Pages

Make an income statement

Assignment Help Financial Accounting
Reference no: EM132766997

Question - Below are the account balances for a company at the end of December.

Accounts Balances

Cash $4,100

Salaries expense 1,550

Accounts payable 2,100

Retained earnings 4,550

Utilities expense 1,200

Supplies 12,500

Service revenue 8,000

Common stock 4,700

Required - Use only the appropriate accounts to make an income statement.

Reference no: EM132766997

Questions Cloud

What loss of a to be reported for income tax purposes is : Sixty days thereafter, the corporation was adjudged bankrupt and its stock as worthless. The loss of A to be reported for income tax purposes is classified as
Compute the cost of goods transferred out : The Matsui lubricants plant uses the FIFO method to account for its work in process inventories. Compute the cost of goods transferred out
What are some potential benefits of linux : Based on your current understanding of Faster Computing's business, what are some potential benefits of Linux? The company is aware that many different Linux.
Which does not own in anticipation of a decline : Which does not own (he merely borrows the stock certificate through or from his stock broker) in anticipation of a decline in its price
Make an income statement : Below are the account balances for a company at the end of December. Salaries expense 1,550. Use only the appropriate accounts to make an income statement
Prepare journal entry required to be prepared by allan inc : The recourse provision has a fair value of $10,000. Prepare the journal entry required to be prepared by Allan Inc. on June 1, 2019. Show details
Price of bond based on the annual percentage rate convention : A 3-year Corporate Bond with a face value of $1,000 and an annual coupon rate of 4% had a yield to maturity of 6%. This bond makes 2 (semi-annual) coupon paymen
Which accounts or relationships do find most compelling : To a financial analyst, certain accounts or relationships stand out as being most informative. Which accounts or relationships do you find most compelling?
Make statement of stockholders equity at the end of the year : In addition, the company issues additional common stock for $7,400. Make statement of stockholders' equity at the end of the year (December 31)

Reviews

Write a Review

Financial Accounting Questions & Answers

  How do you journalize this adjusting entry

But 2 of the advertisments were not played on T.V. but they will be played next month. The cost of each advertisment is $120. How do you journalize this adjusting entry?

  What is breakeven point in units after giving effect to plan

Johnson, Inc. projects sales for next year will be 60,000 units if the sales price is $28. At this level, unit fixed costs will be $8 while total variable costs will be $720,000. What is the breakeven point for the company in terms of dollars and uni..

  What is the price of the bond that is being offered

What is the price of the bond that is being offered to you? Is the bond being offered at a premium or at a discount? Explain (Hint: Use Present Value formula)

  What is dollar amount difference between two bank account

Which bank would yield the most on a principal of $500.00? What is the dollar amount difference between the two bank accounts?

  Determine the cost of bricks transferred to finished goods

Determine the cost of bricks transferred to finished goods inventory and the cost of bricks in ending work in process inventory for October 2020.

  What amount of the impairment loss is allocated to the plant

Financial Assets (profit of P2,000,000 recognized in equity), What amount of the impairment loss is allocated to the property, plant, and equipment?

  Prepare all general journal entries for the two bonds issued

Prepare all general journal entries for the 2 bonds issued and any interest accruals and payments for the fiscal year 2016. What is the carrying amount on the December 31, 2016 Balance Sheet for 4A. and 4B?

  What is the percentage mark-up for cake shop

A cake shop sells meringues for $3.50 each. If they cost the store $2.25 each to make, what is the percentage mark-up? Explain in detail.

  Show the calculation of the amount of gain recognized

Show the calculation of the amount of gain or loss to be recognized by Layne Co. from the exchange. (Round to the nearest dollar.)

  What is the annual rate on the bank loan

Neveready Flashlights Inc. needs $400,000 to take a cash discount of 2/10, net 60. What is the annual rate on the bank loan

  Relevant international accounting standards

By using the regulatory discussions and relevant international accounting standards (IASs) which are taught in the module APC311, you are required to provide a critical evaluation of the following areas of financial reporting.

  Which of the items must be presented as a separate line item

Which of the items must be presented as a separate line item in the statement of financial position? Trade and other receivables.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd