Sh7 Use the following to answer questions 33-40Income StatementRevenuesExpenses:SalariesAdministrativeUtilitiesTotal expensesNet incomeCashA/RSuppliesPrepaid rentEquipmentBuildingTotal assets33. $34. S35. $36. $$456,000245,0008,000AssetsRevenue:Net Income:Issuance:Dividends:$25,00030,000#372,000207,8001,000,000#38#33709,000# 34Statement of Stockholders' EquityCommon stock37. $38. $39. $40. $BeginningIssuance.Net incomeDividendsEndingBalance SheetAccounts payableNotes payableTotal liabilities$450,000#35Supplies:$500,000Common stockRetained earningsTotal stockholders' equityTotal Land SEStockholders' EquityTotal Assets:LiabilitiesStockholders' Equity:Total L & SE:Retained earnings$321,000210,000# 36$501.000$14,000250,000$265,000?#39#40

balance sheet is a statement which provides actual position of the firm over a period of time . it…

Use the following to answer questions 33-40 Income Statement Revenues Expenses: Salaries Administrative Utilities Total expenses Net income Cash A/R Supplies Prepaid rent. Equipment. Building Total assets 33. $. 34. S 35. S 36. S $456,000 245,000 8,000 Assets Revenue: Issuance: Dividends: $25,000 30,000 #37 Net Income: 2,000 207,800 1,000,000 709,000 #34 #38 #33 37. $ 38. $ Balance Sheet 39. $ Statement of Stockholders' Equity Common stock 40. $ Beginning Issuance Net income Dividends Ending Accounts payable Notes payable Total liabilities $450,000 #35 $500.000 Supplies: Common stock Retained earnings Total stockholders' equity Total L and SE Liabilities Stockholders' Equity Total Assets: Stockholders' Equity: Total L & SE: Retained earnings $321,000 210,000 #36 $501.000 $14,000 250,000 $265,000 #39 #40

Use the following to answer questions 33-40 Income Statement Revenues Expenses: Salaries Administrative Utilities Total expenses Net income Cash A/R Supplies Prepaid rent. Equipment. Building Total assets 33. $. 34. S 35. S 36. S $456,000 245,000 8,000 Assets Revenue: Issuance: Dividends: $25,000 30,000 #37 Net Income: 2,000 207,800 1,000,000 709,000 #34 #38 #33 37. $ 38. $ Balance Sheet 39. $ Statement of Stockholders' Equity Common stock 40. $ Beginning Issuance Net income Dividends Ending Accounts payable Notes payable Total liabilities $450,000 #35 $500.000 Supplies: Common stock Retained earnings Total stockholders' equity Total L and SE Liabilities Stockholders' Equity Total Assets: Stockholders' Equity: Total L & SE: Retained earnings $321,000 210,000 #36 $501.000 $14,000 250,000 $265,000 #39 #40

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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