Prepare and income statement retained earnings statement

Assignment Help Accounting Basics
Reference no: EM13482972

Cash                                                                            6,100

Laundry Supplies                                                           9,560

Prepaid Insurance                                                         8,490

Laundry Equipment                                                        105,100

Accumulated

Depreciation Laundry Equipment                                     40,200

Accounts Payable                                                                                6,100

Mortgage Payable                                                                               10,000

Capital Stock                                                                                       6,000

Retained Earnings 1-1-2003                                                                 31,800

Dividends                                                                   2,000

Laundry Revenue                                                                                170,900

Wages Expense                                                           61,400

Rent Expense                                                              36,000

Utilities Expense                                                          10,000

Insurance Expense                                                      13,650

Miscellaneous Expense                                                 12,700    

Total                                                                            265,000            265,000

Prepare and income statement, retained earnings statement and balance statement for Steve's Laundry for the year ending December 31, 2003.

Reference no: EM13482972

Questions Cloud

Merchandise with an invoice price of 2000 was purchased on : merchandise with an invoice price of 2000 was purchased on october 3 terms 115 n60. the company uses the net method to
A footnote to these statements indicated that the company : a large corporation recently reported the following amounts on its year-end balance sheets20072008accounts
Recruiters sent to college campuses must be properly : 1.recruiters sent to college campuses must be properly trained to and prepared to talk to candidates about their
Create an equally weighted portfolio of five computer : create an equally weighted portfolio of five computer software stocks. is such a portfolio a diversified portfolio?
Prepare and income statement retained earnings statement : cashnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbspnbsp
Which of the following is an example of both a capital : which of the following is an example of both a capital market and a primary market transaction? no transactions occur
Myworld inc is an all-equity firm whose current business : myworld inc. is an all-equity firm whose current business involves manufacturing and selling software. the company is
You are the senior financial analyst at a mid-sized : you are the senior financial analyst at a mid-sized manufacturing firm in the chicago area. your supervisor the vp of
Prepare an income statement and a retained earnings : special delivery was started on may 1 with an investment of 45000 cash. following are the assets and liabilities of

Reviews

Write a Review

Accounting Basics Questions & Answers

  Is this an ethical violation for the cfo

The CFO for a corporation deliberately misstates expenses on the income statement purely out of a sense of loyalty to his CEO and the company. The CFO will receive no financial incentive for this misstatement. In fact, he risks losing his job by d..

  Determine a business related example of a potentially

find a business related example of a potentially unethical accounting situation on the internet. summarize the

  How much can harry contribute to his roth ira

Harriet and Harry Combs (both 37 years old) are married and both want to contribute to a Roth IRA. In 2012, their AGI is $50,000. Harriet earned $46,000 and Harry earned $4,000. (Leave no cells blank - be certain to enter "0" wherever required. Om..

  Can anyone help with these questions?

Nearly a week before Hurricane Katrina reached New Orleans, Wal-Mart began moving trucks and supplies into position, as specified in the company's ________ plan.

  Problem 1you have decided to invest 30 percent in x 30

problem 1you have decided to invest 30 percent in x 30 percent in y and 40 percent in z. the probability of the state

  Xyz company deposited 15000 in bank account in return for

xyz company deposited 15000 in a bank account in return for issuing shares in the corporation. this transaction would

  How much profit-loss will warnertool company have

How much profit (loss) will WarnerTool Company have if it sells 1,000 rings? 8000 rings?

  Problem regarding expected net income

What would expected net income be if the company experienced a 10 percent increase in fixed costs and 10 percent increase in sales volume?

  Determining nominal output problem

Suppose that nominal output rises from $12.5 trillion in 2005 to $13 trillion in 2006. Assume also that the GDP deflator rises from 100 to 105.

  Determine the materials price and quantity variances for

one of the products of hearts amp flowers is a one-pound boxof chocolate candy packaged in a box bearing the customers

  Preferred stock call premium addressed

In a company with minority interest equity how is the preferred stock call premium addressed?

  Straight-line method of depreciation for the machinery

At the beginning of 2011, a decision was made to change to the straight-line method of depreciation for the machinery. The depreciation expense for 2011 would be:

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!

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