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These financial statement items are for Wildhorse Corporation at year end, July 31, 2024: Operating expenses Salaries expense Deferred revenue Utilities expense Equipment Accounts payable Service revenue Rent income Common shares Cash Accounts receivable Accumulated depreciation-equipment Interest payable Supplies expense Dividends declared i $35,500 47,700 15,000 3,400 52,520 3,920 114,100 18,500 25,500 5,860 19,600 6,200 1.200 1,000 15,000 3 D E a 6

These financial statement items are for Wildhorse Corporation at year end, July 31, 2024: Operating expenses Salaries expense Deferred revenue Utilities expense Equipment Accounts payable Service revenue Rent income Common shares Cash Accounts receivable Accumulated depreciation-equipment Interest payable Supplies expense Dividends declared i $35,500 47,700 15,000 3,400 52,520 3,920 114,100 18,500 25,500 5,860 19,600 6,200 1.200 1,000 15,000 3 D E a 6

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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reciation expense Retained earnings, August 1, 2023 Rent expense Income tax expense Supplies Trading investments Bank loan payable (due December 31, 2024) Interest expense (a1) 3,000 21,940 15,500 4,900 2,300 20,500 23,300 2,880 Additional information: Wildhorse started the year with $16,000 of common shares and issued additional shares for $9,500 during the year. Prepare a statement of income for the year. (Enter negative amounts using either a negative sign preceding the number eg. 45 or parentheses eg. (45)) WILDHORSE CORPORATION
Transcribed Image Text:reciation expense Retained earnings, August 1, 2023 Rent expense Income tax expense Supplies Trading investments Bank loan payable (due December 31, 2024) Interest expense (a1) 3,000 21,940 15,500 4,900 2,300 20,500 23,300 2,880 Additional information: Wildhorse started the year with $16,000 of common shares and issued additional shares for $9,500 during the year. Prepare a statement of income for the year. (Enter negative amounts using either a negative sign preceding the number eg. 45 or parentheses eg. (45)) WILDHORSE CORPORATION
These financial statement items are for Wildhorse Corporation at year end, July 31, 2024: Operating expenses Salaries expense Deferred revenue Utilities expense Equipment Accounts payable Service revenue Rent income Common shares Cash Accounts receivable Accumulated depreciation-equipment Interest payable Supplies expense Dividends declared $35,500 47,700 15,000 3,400 52,520 3,920 114,100 18,500 25,500 5,860 19,600 6,200 1,200 1,000 15,000 E D E L P 11 6 C
Transcribed Image Text:These financial statement items are for Wildhorse Corporation at year end, July 31, 2024: Operating expenses Salaries expense Deferred revenue Utilities expense Equipment Accounts payable Service revenue Rent income Common shares Cash Accounts receivable Accumulated depreciation-equipment Interest payable Supplies expense Dividends declared $35,500 47,700 15,000 3,400 52,520 3,920 114,100 18,500 25,500 5,860 19,600 6,200 1,200 1,000 15,000 E D E L P 11 6 C
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