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Income Statement UCF Blcycle Vending Machine Company For Period Ending December 31, 20xx 1,000,000 Revenue Cost of goods sold Gross Profit 750,000 250.000 Expenses: Depreciation Expense Sales, General & Administrative Expenses Total Expenses Operating Income Gain on sale of Equipment Net income 25.000 80,000 105.000 145.000 25.000 170.000 Balance Shet UCF Bicycle Vending Machine Company December 31, 20xx Current Year Prior Assets Current Assets Cash 175,000 50 Accounts Recen able 1NN ఇ1IsTys Lonz-term Asets 110,000 330.000 150 300

Income Statement UCF Blcycle Vending Machine Company For Period Ending December 31, 20xx 1,000,000 Revenue Cost of goods sold Gross Profit 750,000 250.000 Expenses: Depreciation Expense Sales, General & Administrative Expenses Total Expenses Operating Income Gain on sale of Equipment Net income 25.000 80,000 105.000 145.000 25.000 170.000 Balance Shet UCF Bicycle Vending Machine Company December 31, 20xx Current Year Prior Assets Current Assets Cash 175,000 50 Accounts Recen able 1NN ఇ1IsTys Lonz-term Asets 110,000 330.000 150 300

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Total Expenses Operating Income Gain on sale of Equipment Net Income B0,000 105,000 145,000 25,000 170,000 Balance Sheet UCF Bicycle Vending Machine Company December 31, 20xx Current Year Prior Year Change Assets Current Assets Cash 175,000 50,000 150,000 125,000 Accounts Receivable (10,000) 30,000 140,000 Inventory Long-term Assets Equipment* 330,000 300,000 450,000 500,000 (50,000) Total Assets 1.095,000 1,000,000 Liabilities and Stockholders' Equity Current Liabilities Accounts Payable Deferred Revenue 155.000 (145,000) 25,000 (25.000) 300.000 225.000 200,000 Warranty Payable Long-term Liabilities Long-tem Debt** Stockholders' Equity Common Stock*** Retained Earning** Total Liabilities and Stockholders' Equity 25,000 50.000 300,000 250.000 50,000 50.000 140,000 150,000 100,000 210.000 100,000 1.095.000 1.000,000 S50.000 of equipment was sold for cash during the year. * New $50 000 netes payalile was signed i exchange for Cash durng the year. *New stock was 1sstied dunng the year for cash in the anmount of $50,000 ****Dividends paid durng the year equaled S30.000.
Transcribed Image Text:Total Expenses Operating Income Gain on sale of Equipment Net Income B0,000 105,000 145,000 25,000 170,000 Balance Sheet UCF Bicycle Vending Machine Company December 31, 20xx Current Year Prior Year Change Assets Current Assets Cash 175,000 50,000 150,000 125,000 Accounts Receivable (10,000) 30,000 140,000 Inventory Long-term Assets Equipment* 330,000 300,000 450,000 500,000 (50,000) Total Assets 1.095,000 1,000,000 Liabilities and Stockholders' Equity Current Liabilities Accounts Payable Deferred Revenue 155.000 (145,000) 25,000 (25.000) 300.000 225.000 200,000 Warranty Payable Long-term Liabilities Long-tem Debt** Stockholders' Equity Common Stock*** Retained Earning** Total Liabilities and Stockholders' Equity 25,000 50.000 300,000 250.000 50,000 50.000 140,000 150,000 100,000 210.000 100,000 1.095.000 1.000,000 S50.000 of equipment was sold for cash during the year. * New $50 000 netes payalile was signed i exchange for Cash durng the year. *New stock was 1sstied dunng the year for cash in the anmount of $50,000 ****Dividends paid durng the year equaled S30.000.
Income Statement UCF Bleycle Vending Machine Company For Perlod Ending December 31, 20x 1,000,000 Revenue Cost of goods sold Gross Profit Expenses: Depreciation Expense Sales, General & Administrative Expenses Total Expenses Operating Income Gain on sale of Equipment 750,000 250,000 25,000 80,000 105.000 145.000 25.000 Net income 170,000 Balance Sheet UCF Bicycle Vending Machine Company December 1, 20xx Current Year Prior Yea ఎం కళ Current Assets Cash Accounts Recen able 175.000 50.00 710.000 150.00 Jventory 330.000 300.00 750,000 500.000 otal ArN 1:095.000 1,000.00K)
Transcribed Image Text:Income Statement UCF Bleycle Vending Machine Company For Perlod Ending December 31, 20x 1,000,000 Revenue Cost of goods sold Gross Profit Expenses: Depreciation Expense Sales, General & Administrative Expenses Total Expenses Operating Income Gain on sale of Equipment 750,000 250,000 25,000 80,000 105.000 145.000 25.000 Net income 170,000 Balance Sheet UCF Bicycle Vending Machine Company December 1, 20xx Current Year Prior Yea ఎం కళ Current Assets Cash Accounts Recen able 175.000 50.00 710.000 150.00 Jventory 330.000 300.00 750,000 500.000 otal ArN 1:095.000 1,000.00K)
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