For the year ended December 31, 2019 Revenues: Commissions revenue $85,000 Expenses: Salary expense $8,300 Repair expense $200 Telephone expense $150 Insurance expense $1,000 Rent expense $2,500 Office supplies expense $400 Depreciation expense $250 Total Expenses 12,800 let Income 72,200 Statement of Stockholder's Equity For the year ended December 31, 2019 Totral Retained Stockholder's Common Stock Earnings Equity Beginning Balance, December 1, 2019 $80,000 $72,200 $ 152,200.00 Ending Balance, December 31, 2019 72,200$ 152,200 SoccerBox Inc. Balance Sheet December 31, 2019 Assets Liabilities Current Assets: Current Liabilities: Cash 93,150 ||Accounts payable 300 Prepaid rent 27,500 ||Dividends 1,000 Prepaid insurane Supplies office 11,000 Total Current Liabilities 1,300 100 Total Current Assets 131,750 Long-term Assets: Equipment Stockholder's Equity Total Long-term Assets Total Stockholder's Equity Total Liabilities and Total Assets Ls 131,750 Stockholder's Equity 1,300
For the year ended December 31, 2019 Revenues: Commissions revenue $85,000 Expenses: Salary expense $8,300 Repair expense $200 Telephone expense $150 Insurance expense $1,000 Rent expense $2,500 Office supplies expense $400 Depreciation expense $250 Total Expenses 12,800 let Income 72,200 Statement of Stockholder's Equity For the year ended December 31, 2019 Totral Retained Stockholder's Common Stock Earnings Equity Beginning Balance, December 1, 2019 $80,000 $72,200 $ 152,200.00 Ending Balance, December 31, 2019 72,200$ 152,200 SoccerBox Inc. Balance Sheet December 31, 2019 Assets Liabilities Current Assets: Current Liabilities: Cash 93,150 ||Accounts payable 300 Prepaid rent 27,500 ||Dividends 1,000 Prepaid insurane Supplies office 11,000 Total Current Liabilities 1,300 100 Total Current Assets 131,750 Long-term Assets: Equipment Stockholder's Equity Total Long-term Assets Total Stockholder's Equity Total Liabilities and Total Assets Ls 131,750 Stockholder's Equity 1,300
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
I'm having trouble with creating my financial statements. In the attached images I'll present what I have been able to figure out but I need help figuring out the rest.
Transcribed Image Text:ll Spectrum Wi-Fi ?
9:15 AM
Liljedahl_ACCT205 U5 IP Excel...wer Template_revised_ver3 copy
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A
B
E
F
G
H
3
For the year ended December 31, 2019
4
5
Revenues:
6
Commissions revenue
$85,000
Expenses:
Salary expense
$8,300
Repair expense
$200
10
Telephone expense
$150
11
Insurance expense
$1,000
12
Rent expense
$2,500
Office supplies expense
$400
13
Depreciation expense
$250
14
15
Total Expenses
12,800
16
let Income
72,200
17
18
19
20
Statement of Stockholder's Equity
21
For the year ended December 31, 2019
22
Totral
Stockholder's
Equity
$ 152,200.00
Retained
23
Common Stock
Earnings
Beginning Balance, December 1, 2019
$80,000
$72,200
24
25
26
27
28
Ending Balance, December 31, 2019
72,200
152,200
29
30
31
SoccerBox Inc.
32
Balance Sheet
33
December 31, 2019
34
35
Assets
Liabilities
36
Current Assets:
Current Liabilities:
93,150 |Accounts payable
37
Cash
300
38
Prepaid rent
27,500 ||Dividends
1,000
39
Prepaid insurane
11,000
Total Current Liabilities
1,300
40
Supplies office
100
41
Total Current Assets
131,750
42
Long-term Assets:
43
Equipment
Stockholder's Equity
44
45
Total Long-term Assets
46
47
Total Stockholder's Equity
48
Total Liabilities and
49
Total Assets
131,750 Stockholder's Equity
1,300
50
Sheet1
Financial Statements
>
Transcribed Image Text:B
E
1
SoccerBox Inc.
2
Adjusted Trial Balance
3
December 31, 2019
4
Cash
93,150
Prepaid rent
Prepaid insurance
Office supplies
Office equipment
Accumulated depreciation
Salaries payable
27,500
11,000
5
6
7
100
20,000
250
10
300
11
Common stock
80,000
Dividends
Commissions revenue
12
1,000
13
85,000
14
Salary expense
8,300
Repair expense
Telephone expense
15
$200
16
150
Rent expense
1,000
2,500
17
18
Insurance expense
Office supplies expense
Depreciation expense
19
400
20
250
21
22
Totals
165,550
165,550
23
24
25
26
27
28
29
30
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