Reference no: EM132917683
Repair expense $1,375
Advertising expense 800
Prepaid expenses 1,200Dividends 3,675
Purchase of intangibles 900
Cash (end of year) 52,250
Deferred revenue 1,375
Owner's capital 24,000
Accounts payable 18,625
Prepaid insurance 1,800
Collections from customers 45,650
Insurance expense 2,300
Contributions by owners 15,000
Accounts receivable 22,075
Cash (beginning of year) 6,775
Retained earnings (beginning of year) 3,700
Interest expense 750
Business licence 60
Payment of dividends 3,675
Website design 840
Service revenue 17,450
Cash received from debt 25,000
Income tax expense 2,600
Supplies 1,125
Supplies expense 350
Payments to suppliers 35,600
Bank loan payable, due in 2025 25,000
Website expense 650
Income tax payable 1,700
Problem 1: What is Total Operating Expenses on this company's single step income statement?
Problem 2: What is Profit before Income Tax (also called Income before Income Tax) on this company's single step income statement?
Problem 3: What is Profit (also called Net Income) on this company's single step income statement?
Problem 4: What is ending Retained Earnings on this company's statement of retained earnings?
Problem 5: What is total current assets on this company's balance sheet?
Problem 6: What is total assets on this company's balance sheet?
Problem 7: What is total current liabilities on this company's balance sheet?
Problem 8: What is total liabilities on this company's balance sheet?
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What is total net sales for the company
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