G H 1 Unadjusted Trial Adjusted Trial Income Balance Sheet & Statement 2 Balance Adjustments Balance Statement of Owner's Equity 3 4 Account Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit 5 Cash 113,718 113,718 113,718 6 Petty cash 7 Accounts receivable 8 Allowance for doubtful accounts 9 Prepaid rent 10 Supplies 100 100 100 39,390 39,390 39,390 1,940 2,722 4,662 4,662 3,000 3,000 825 615 210 210 11 Merchandise inventory 14,400 14,400 14,400 12 Equipment 9,000 9,000 9,000 27,000 27,000 13 Van 14 Building 15 Accumulated depreciation 27,000 125,000 125,000 125,000 23,050 5,025 28,075 28,075 16 Land 25,000 25,000 25,000 17 Accounts payable 18 Interest payable 390 390 19 Sales tax payable 20 Employee income tax payable 21 FICA--Social Security tax payable 22 FICA--Medicare tax payable 23 Unemployment tax payable 24 Warranty payable 25 Notes payable 26 Bends payable 27 Discount on bonds payable 28 Retained Earnings 29 Common stock 30 Dividends 390 1,000 1,000 1,000 420 420 840 840 105 105 210 210 945 945 945 938 1,856 918 918 92,762 92,762 92,762 50,000 50,000 50,000 800 800 800 107,918 107,918 107,918 50,000 50,000 50,000 10,000 10,000 10,000 31 Sales 92,800 92,800 92,800 32 Service revenue 120,000 120,000 120,000 33 Cost of goods sold 34 Salaries expense 35 Payroll tax expense 36 37 Interest expense 38 Credit card expense 47,620 47,620 47,620 82,000 82,000 82,000 5,625 945 7,095 7,095 525 10,840 10,840 10,840 1,440 1,440 1,440 18,000 39 Advertising expense 40 Office supplies expense 41 Maintenance expense 42 Utilities expense 43 Supplies expense 4 Rent expense 45 Bad debts expense 46 Depreciation expense 47 Warranty expense 48 Totals 18,000 18,000 24 24 24 65 65 65 5,600 5,600 5,600 615 615 615 3,000 3,000 3,000 2,722 2,722 2,722 5,025 5,025 5,025 1,856 1,856 1,856 540,385 540,385 14,688 14,688 550,520 550,520 185,902 212,800 364,618 337,720 49 Net Income 26,898 26,898 50 Totals 212,800 212,800 364,618 364,618
G H 1 Unadjusted Trial Adjusted Trial Income Balance Sheet & Statement 2 Balance Adjustments Balance Statement of Owner's Equity 3 4 Account Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit 5 Cash 113,718 113,718 113,718 6 Petty cash 7 Accounts receivable 8 Allowance for doubtful accounts 9 Prepaid rent 10 Supplies 100 100 100 39,390 39,390 39,390 1,940 2,722 4,662 4,662 3,000 3,000 825 615 210 210 11 Merchandise inventory 14,400 14,400 14,400 12 Equipment 9,000 9,000 9,000 27,000 27,000 13 Van 14 Building 15 Accumulated depreciation 27,000 125,000 125,000 125,000 23,050 5,025 28,075 28,075 16 Land 25,000 25,000 25,000 17 Accounts payable 18 Interest payable 390 390 19 Sales tax payable 20 Employee income tax payable 21 FICA--Social Security tax payable 22 FICA--Medicare tax payable 23 Unemployment tax payable 24 Warranty payable 25 Notes payable 26 Bends payable 27 Discount on bonds payable 28 Retained Earnings 29 Common stock 30 Dividends 390 1,000 1,000 1,000 420 420 840 840 105 105 210 210 945 945 945 938 1,856 918 918 92,762 92,762 92,762 50,000 50,000 50,000 800 800 800 107,918 107,918 107,918 50,000 50,000 50,000 10,000 10,000 10,000 31 Sales 92,800 92,800 92,800 32 Service revenue 120,000 120,000 120,000 33 Cost of goods sold 34 Salaries expense 35 Payroll tax expense 36 37 Interest expense 38 Credit card expense 47,620 47,620 47,620 82,000 82,000 82,000 5,625 945 7,095 7,095 525 10,840 10,840 10,840 1,440 1,440 1,440 18,000 39 Advertising expense 40 Office supplies expense 41 Maintenance expense 42 Utilities expense 43 Supplies expense 4 Rent expense 45 Bad debts expense 46 Depreciation expense 47 Warranty expense 48 Totals 18,000 18,000 24 24 24 65 65 65 5,600 5,600 5,600 615 615 615 3,000 3,000 3,000 2,722 2,722 2,722 5,025 5,025 5,025 1,856 1,856 1,856 540,385 540,385 14,688 14,688 550,520 550,520 185,902 212,800 364,618 337,720 49 Net Income 26,898 26,898 50 Totals 212,800 212,800 364,618 364,618
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Concept explainers
Dividend Valuation
Dividend refers to a reward or cash that a company gives to its shareholders out of the profits. Dividends can be issued in various forms such as cash payment, stocks, or in any other form as per the company norms. It is usually a part of the profit that the company shares with its shareholders.
Dividend Discount Model
Dividend payments are generally paid to investors or shareholders of a company when the company earns profit for the year, thus representing growth. The dividend discount model is an important method used to forecast the price of a company’s stock. It is based on the computation methodology that the present value of all its future dividends is equivalent to the value of the company.
Capital Gains Yield
It may be referred to as the earnings generated on an investment over a particular period of time. It is generally expressed as a percentage and includes some dividends or interest earned by holding a particular security. Cases, where it is higher normally, indicate the higher income and lower risk. It is mostly computed on an annual basis and is different from the total return on investment. In case it becomes too high, indicates that either the stock prices are going down or the company is paying higher dividends.
Stock Valuation
In simple words, stock valuation is a tool to calculate the current price, or value, of a company. It is used to not only calculate the value of the company but help an investor decide if they want to buy, sell or hold a company's stocks.
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Question
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Prepare a statement of changes in
(See attached image).
Transcribed Image Text:B
D
F
G
H
K
Unadjusted Trial
Adjusted Trial
Income
2
Balance Sheet & Statement
Balance
Adjustments
Balance
Statement
of Owner's Equity
3
4
Ассount
Debit
Credit
Debit
Credit
Credit
Debit
Debit
Debit
Credit
Credit
5 Cash
6 Petty cash
7 Accounts receivable
8 Allowance for doubtful accounts
9 Prepaid rent
10 Supplies
113,718
113,718
113,718
100
100
100
39,390
39,390
39,390
1,940
2,722
4,662
4,662
3,000
3,000
825
615
210
210
11 Merchandise inventory
14,400
14,400
14,400
12 Equipment
13 Van
14 Buikling
15 Accumulated depreciation
16 Land
17 Accounts pay able
18 Interest payable
19 Sales tax payable
9,000
9,000
9,000
27,000
27,000
27,000
125,000
125,000
125,000
23,050
5,025
28,075
28,075
25,000
25,000
25,000
390
390
390
1,000
20 Employee income tax payable
21 FICA--Social Security tax payable
22 FICA--Medicare tax payable
1,000
1,000
420
420
840
840
105
105
210
210
23 Unemployment tax payable
945
945
945
918
24 Warranty payable
25 Notes payable
26 Bonds payable
27 Discount on bonds payable
28 Retained Earnings
938
1,856
918
92,762
92,762
92,762
50,000
50,000
50,000
B00
800
800
107,918
107,918
107,918
29 Common stock
50,000
50,000
50,000
30 Dividends
10,000
10,000
10,000
31 Sales
92,800
92,800
92,800
32 Service revenue
120,000
120,000
120,000
33 Cost of goods sold
34 Salaries expense
47,620
47,620
47,620
82,000
82,000
82,000
35 Payroll tax expense
5,625
945
7,095
7,095
36
525
37 Interest expense
38 Credit card expense
39 Advertising expense
40 office supplies expense
10,840
10,840
10,840
1,440
1,440
1,440
18,000
18,000
18,000
24
24
24
41 Maintenance expense
65
65
65
42 Utilities expense
5,600
5,600
5,600
43 Supplies expense
44 Rent expense
45 Bad debts expense
46 Depreciation expense
47 Warranty expense
615
615
615
3,000
3,000
3,000
2,722
2,722
2,722
5,025
5,025
5,025
1,856
185,902 212,800
1,856
1,856
48 Totals
540,385
540,385
14,688
14,688
550,520
550,520
364,618
337,720
49 Net Income
26,898
212,800
26,898
50 Totals
212,800
364,618
364,618
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