Solution-Present in good form an income statement for may

Present in good form an income statement for may

Reference no: EM13858841

On May 1, 2007, the amount of Mary Beth's capital in Beth's Services Company was $101,000. During May, she withdrew $15,100 from the business. The amounts of the various assets, liabilities, revenues, and expenses are as follows:

Accounts payable	$ 8,900
Accounts receivable	25,950
Cash	11,390
Fees earned	70,800
Insurance expense	1,475
Land	74,400
Miscellaneous expense	1,510
Prepaid insurance	2,000
Rent expense	8,000
Salary expense	35,300
Supplies	950
Supplies expense	825
Utilities expense	3,800

Present, in good form, (a) an income statement for May, (b) a statement of owner's equity for May, and (c) a balance sheet as of May 31.

Reference no: EM13858841

Questions Cloud

What was net exports : In the economy of Qonos in 2102 investment was $1,611, GDP was $5,829, government spending was $1,521 and consumption was $1,694. What was Qonos's net exports in 2102?

About the increasing geometric gradient : You are told that the present worth of an increasing geometric gradient is $88,146. If the cash flow in year 1 is $25,000 and the gradient increase is 18% per year, what is the value of n? The interest rate is 10%per year.

Apply cost principles to business problems : For this discussion question, you will apply cost principles to business problems. A sunk cost is one that has already been incurred and cannot be recovered. Economic theory supports that only prospective (or future) costs are relevant to a decision...

Minimum of three general economic principles : For the Portfolio Project, conduct an analysis of a recent article and provide your evaluation and outcome expectations in an articulate and informative paper that discusses: A minimum of three general economic principles related to the article. Iden..

Present in good form an income statement for may : Present, in good form, (a) an income statement for May, (b) a statement of owner's equity for May, and (c) a balance sheet as of May 31.

How would you convince your client : You are hired as an outside "green consultant." How would you convince your client organization to adopt green initiatives that are not a direct part of the product or service sold (i.e. Not the product or service itself but anything used to supp..

Added to GDP from the previous it mentioned transactions : In 2013, the furniture store PB produced 10 mahogany desks. One of them is sold to Jeanine for $3,259, later that same year Jeanine sold the desk to Pamela for $1,802. The remaining desks were not sold to anyone that year and stay in PB's inventory a..

How much was added to gemanys gdp : Volkswagen company is Germany own company with a massive factory in Mexico. In 2013, the Volkswagen Mexican factory produced $228 worth of cars and sold $6 to the U.S., $51 to Mexico, and $10 to Germany. How much was added to Gemany's GDP?

What was qonoss government spending : In the economy of Qonos in 2067 exports were $670, GDP was $8,652, imports were $1,281, investment was $1,544 and consumption was $2,325. What was Qonos's government spending in 2067?

User Account

All Pages

Present in good form an income statement for may

Reference no: EM13858841

Reference no: EM13858841

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT