These financial statement items are for Blossom Tax Services at year-end, July 31, 2020. Salaries and wages payable Salaries and wages expense Utilities expense Equipment Accounts payable Service revenue Rent revenue Share capital-ordinary £2,336 Notes payable (long-term) 54,544 Cash 25,312 Accounts receivable 38,528 4,592 70,560 9,520 22,400 Accumulated depreciation-equipment Dividends Depreciation expense Retained earnings (beginning of the year) £2,016 15,904 10,960 6,720 3,360 4,480 34,944
These financial statement items are for Blossom Tax Services at year-end, July 31, 2020. Salaries and wages payable Salaries and wages expense Utilities expense Equipment Accounts payable Service revenue Rent revenue Share capital-ordinary £2,336 Notes payable (long-term) 54,544 Cash 25,312 Accounts receivable 38,528 4,592 70,560 9,520 22,400 Accumulated depreciation-equipment Dividends Depreciation expense Retained earnings (beginning of the year) £2,016 15,904 10,960 6,720 3,360 4,480 34,944
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 14E: Interest and Income Taxes Staggs Company has prepared its 2019 statement of cash flows. In...
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These financial statement items are for Blossom Tax Services at year-end, July 31, 2020.
Salaries and wages payable
Salaries and wages expense
Utilities expense
Equipment
Accounts payable
Service revenue
Rent revenue
Share capital-ordinary
£2,336
54,544
:
v
25,312
38.528
4,592
70,560
9.520
22.400
Notes payable (long-term)
Cash
Accounts receivable
Accumulated depreciation-equipment
Dividends
£
Depreciation expense
Retained earnings (beginning of the year)
BLOSSOM TAX SERVICES
Income Statement
Prepare a retained earnings statement for the year.
£
BLOSSOM TAX SERVICES
Retained Earnings Statement
Prepare an income statement for the year. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or
parentheses e.g. (45).)
Prepare a classified statement of financial position at July 31. (List Current Assets in the reverse order of liquidity)
BLOSSOM TAX SERVICES
Statement of Financial Position
Assets
Equity and Liabilities
v
£
£
£
£
£2,016
£
15.904
10,960
6,720
3,360
4,480
34,944](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5a8808b0-4e11-4998-8240-0b8e938898d0%2F412fbf33-73d9-48a7-a2ec-7157cb863049%2Fcxfy3sq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Current Attempt in Progress
These financial statement items are for Blossom Tax Services at year-end, July 31, 2020.
Salaries and wages payable
Salaries and wages expense
Utilities expense
Equipment
Accounts payable
Service revenue
Rent revenue
Share capital-ordinary
£2,336
54,544
:
v
25,312
38.528
4,592
70,560
9.520
22.400
Notes payable (long-term)
Cash
Accounts receivable
Accumulated depreciation-equipment
Dividends
£
Depreciation expense
Retained earnings (beginning of the year)
BLOSSOM TAX SERVICES
Income Statement
Prepare a retained earnings statement for the year.
£
BLOSSOM TAX SERVICES
Retained Earnings Statement
Prepare an income statement for the year. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or
parentheses e.g. (45).)
Prepare a classified statement of financial position at July 31. (List Current Assets in the reverse order of liquidity)
BLOSSOM TAX SERVICES
Statement of Financial Position
Assets
Equity and Liabilities
v
£
£
£
£
£2,016
£
15.904
10,960
6,720
3,360
4,480
34,944
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