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need income statement |
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Bower Consulting Company |
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T-Accounts – 2013 |
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Assets |
= |
Liabilities |
+ |
Stockholders’ Equity |
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Cash |
Accounts Payable |
Common Stock |
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BBAL 25000 |
2500 |
14000 |
B BAL 20000 |
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EBAL |
20000 |
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112500 |
1200 |
E BAL 14000 |
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1500 |
Retained Earnings |
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BBAL |
25000 |
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EBAL |
25000 |
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E BAL 135300 |
Revenue |
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1200 |
112500 |
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BBAL 20000 Inventory |
1500 |
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2500 |
33700 |
ebal |
112800 |
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14000 |
560 |
Cost of goods sold |
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448 |
528 |
33700 |
448 |
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560 |
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E BAL 2160 |
528 |
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Ebal |
34340 |
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| Bower Consulting Company | |||
| Income statement | |||
| Amount $ | Amount $ | ||
| Sales | 114,000.00 | ||
| Less: Sales Returns | 1,200.00 | ||
| Net Sales | 112,800.00 | ||
| Less: | |||
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33,812.00 | ||
| Loss in valuation of Inventory | 528 | ||
| Gross profit | 78,460.00 | ||
need income statement Bower Consulting Company T-Accounts – 2013 Assets = Liabilities + Stockholders’ Equity Cash...
NEED BALANCE SHEET Bower Consulting Company T-Accounts – 2013 Assets = Liabilities + Stockholders’ Equity Cash Accounts Payable Common Stock BBAL 25000 2500 14000 B BAL 20000 EBAL 20000 112500 1200 E BAL 14000 1500 Retained Earnings BBAL 25000 EBAL 25000 E BAL 135300 Revenue 1200 112500 BBAL 20000 Inventory 1500 2500 33700 ebal 112800 14000 560 Cost of goods sold 448 528 33700 448 560 E BAL 2160 528 Ebal 34340
NEED POST CLOSING ENTRIES Bower Consulting Company T-Accounts – 2013 Assets = Liabilities + Stockholders’ Equity Cash Accounts Payable Common Stock BBAL 25000 2500 14000 B BAL 20000 EBAL 20000 112500 1200 E BAL 14000 1500 Retained Earnings BBAL 25000 EBAL 25000 E BAL 135300 Revenue 1200 112500 BBAL 20000 Inventory 1500 2500 33700 ebal 112800 14000 560 Cost of goods sold 448 528 33700 448 560 E BAL 2160 528 Ebal 34340
NEED STATEMENT OF CHANGES IN EQUITY EOY Bower Consulting Company T-Accounts – 2013 Assets = Liabilities + Stockholders’ Equity Cash Accounts Payable Common Stock BBAL 25000 2500 14000 B BAL 20000 EBAL 20000 112500 1200 E BAL 14000 1500 Retained Earnings BBAL 25000 EBAL 25000 E BAL 135300 Revenue 1200 112500 BBAL 20000 Inventory 1500 2500 33700 ebal 112800 14000 560 Cost of goods sold 448 528 33700 448 560 E BAL 2160 528 Ebal 34340
JOURNAL ENTRIES AND EVENTS INCLUDE PLEASE PROVIDE CORRECT T ACCOUNTS TO CHECK MINE AGAINST Bower Consulting Company started the period with cash of $25,000, 500 units of inventory with a cost of $20,000 (uses FIFO) , common stock of $20,000 and retained earnings of $25,000. Bower engaged in the following transactions in 2013: Transactions during 2013 Purchased with cash 50 units of inventory for $2,500 Purchased on account 250 units of inventory for $14,000 Sold 750 units of inventory for...