Homework Answers
Common Stock at the Beginnig+Additional Issued=34000+4200= 37400
Retained Earnings= 17100+5000= 22100
Total Assets= 64000
Total Liabilities+Shareholers Equity=4500+59500= 64000
Every thing is clear in your calculations, What's your doubt??
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need help finding common stock and retained earnings.
Problem 1-3A Prepare financial statements (L01-3) Longhorn Corporation...
Problem 1-3A Prepare financial statements (LO1-3) Longhorn Corporation provides low-cost food delivery services to senior citizens....
Problem 1-3A Prepare financial statements (LO1-3) Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31, 2021, the company reports the following amounts: Cash Equipment Accounts payable Delivery expense Salaries expense $ 1,300 Service revenue 24,000 cost of goods sold (food expense) 3,400 Buildings 1,600 Supplies 4,500 Salaries payable $62,700 52,400 30,000 2,400 900 In addition, the company had common stock of $30,000 at the beginning of the year and issued...
Problem 1-3A Prepare financial statements (LO1-3) Longhorn Corporation provides low-cost food delivery services to senior citizens....
Problem 1-3A Prepare financial statements (LO1-3) Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31, 2021, the company reports the following amounts: Cash Equipment Accounts payable Delivery expense Salaries expense $ 1,300 Service revenue 24,000 Cost of goods sold (food expense) 3,400 Buildings 1,600 Supplies 4,500 Salaries payable $ 62,700 52,400 30,000 2,400 900 In addition, the company had common stock of $30,000 at the beginning of the year and...
Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year...
Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31, 2021, t company reports the following amounts: Cash Equipment Accounts payable Delivery expense Salaries expense $ 1,200 Service revenue 29,000 Cost of goods sold (food expense) 4,400 Buildings 2,600 Supplies 5,500 Salaries payable $67, 700 53,400 40,000 3,400 800 In addition, the company had common stock of $40,000 at the beginning of the year and issued an additional $4,000 during the...
Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year...
Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31, 2021, the company reports the following amounts: Cash Equipment Accounts payable Delivery expense Salaries expense $ 1,400 Service revenue $72,700 19,000 Cost of goods sold (food expense) 54,400 2,400 Buildings 20,000 3,600 Supplies 1,400 6,500 Salaries payable 700 In addition, the company had common stock of $20,000 at the beginning of the year and issued an additional $2,000 during the year....
Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year...
Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31, 2021, the company reports the following amounts: Cash Equipment Accounts payable Delivery expense Salaries expense $ 1,200 Service revenue 21,000 Cost of goods sold (food expense) 2,800 Buildings 3,200 Supplies 6,100 Salaries payable $70,700 54,000 24,000 1,800 800 In addition, the company had common stock of $24,000 at the beginning of the year and issued an additional $2,400 during the year....
Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year...
Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31, 2021, the company reports the following amounts: Cash Equipment Accounts payable Delivery expense Salaries expense $ 1,200 Service revenue 29,000 cost of goods sold (food expense) 4,400 Buildings 2,600 Supplies 5,500 salaries payable $67,700 53,400 40,000 3,400 800 In addition, the company had common stock of $40,000 at the beginning of the year and issued an additional $4,000 during the year....
Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year...
Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31, 2021, the company reports the following amounts: Cash $ 1,200 Service revenue $ 64,700 Equipment 26,000 Cost of goods sold (food expense) 52,800 Accounts payable 3,800 Buildings 34,000 Delivery expense 2,000 Supplies 2,800 Salaries expense 4,900 Salaries payable 700 In addition, the company had common stock of $34,000 at the beginning of the year and issued an additional $3,400 during the...
Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year...
Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31, 2021, the company reports the following amounts: Cash $ 1,200 Service revenue $ 64,700 Equipment 26,000 Cost of goods sold (food expense) 52,800 Accounts payable 3,800 Buildings 34,000 Delivery expense 2,000 Supplies 2,800 Salaries expense 4,900 Salaries payable 700 In addition, the company had common stock of $34,000 at the beginning of the year and issued an additional $3,400 during the...
Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year...
Longhorn Corporation provides low-cost food delivery services to
senior citizens. At the end of the year on December 31, 2021, the
company reports the following amounts:
Cash
$
1,200
Service revenue
$
63,200
Equipment
24,500
Cost of goods sold (food expense)
52,500
Accounts payable
3,500
Buildings
31,000
Delivery expense
1,700
Supplies
2,500
Salaries expense
4,600
Salaries payable
700
In addition, the company had common stock of $31,000 at the
beginning of the year and issued an additional $3,100 during the...
Problem 1-5B Prepare financial statements (L01-3) Tar Heel Corporation provides the following information at the end...
Problem 1-5B Prepare financial statements (L01-3) Tar Heel Corporation provides the following information at the end of 2021. Salaries payable to workers at the end of the year Advertising expense for the year Building that has been purehased Supplies at the end of the year Retained earnings Utility expense for the year Note payable to the bank Service revenue recognized during the year Salary expense for the year Accounts payable to suppliers Dividends paid to shareholders during the year Common...
Problem 1-3A Prepare financial statements (LO1-3) Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31, 2021, the company reports the following amounts: Cash Equipment Accounts payable Delivery expense Salaries expense $ 1,300 Service revenue 24,000 cost of goods sold (food expense) 3,400 Buildings 1,600 Supplies 4,500 Salaries payable $62,700 52,400 30,000 2,400 900 In addition, the company had common stock of $30,000 at the beginning of the year and issued...
Problem 1-3A Prepare financial statements (LO1-3) Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31, 2021, the company reports the following amounts: Cash Equipment Accounts payable Delivery expense Salaries expense $ 1,300 Service revenue 24,000 Cost of goods sold (food expense) 3,400 Buildings 1,600 Supplies 4,500 Salaries payable $ 62,700 52,400 30,000 2,400 900 In addition, the company had common stock of $30,000 at the beginning of the year and...
Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31, 2021, t company reports the following amounts: Cash Equipment Accounts payable Delivery expense Salaries expense $ 1,200 Service revenue 29,000 Cost of goods sold (food expense) 4,400 Buildings 2,600 Supplies 5,500 Salaries payable $67, 700 53,400 40,000 3,400 800 In addition, the company had common stock of $40,000 at the beginning of the year and issued an additional $4,000 during the...
Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31, 2021, the company reports the following amounts: Cash Equipment Accounts payable Delivery expense Salaries expense $ 1,400 Service revenue $72,700 19,000 Cost of goods sold (food expense) 54,400 2,400 Buildings 20,000 3,600 Supplies 1,400 6,500 Salaries payable 700 In addition, the company had common stock of $20,000 at the beginning of the year and issued an additional $2,000 during the year....
Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31, 2021, the company reports the following amounts: Cash Equipment Accounts payable Delivery expense Salaries expense $ 1,200 Service revenue 21,000 Cost of goods sold (food expense) 2,800 Buildings 3,200 Supplies 6,100 Salaries payable $70,700 54,000 24,000 1,800 800 In addition, the company had common stock of $24,000 at the beginning of the year and issued an additional $2,400 during the year....
Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31, 2021, the company reports the following amounts: Cash Equipment Accounts payable Delivery expense Salaries expense $ 1,200 Service revenue 29,000 cost of goods sold (food expense) 4,400 Buildings 2,600 Supplies 5,500 salaries payable $67,700 53,400 40,000 3,400 800 In addition, the company had common stock of $40,000 at the beginning of the year and issued an additional $4,000 during the year....
Longhorn Corporation provides low-cost food delivery services to
senior citizens. At the end of the year on December 31, 2021, the
company reports the following amounts:
Cash
$
1,200
Service revenue
$
63,200
Equipment
24,500
Cost of goods sold (food expense)
52,500
Accounts payable
3,500
Buildings
31,000
Delivery expense
1,700
Supplies
2,500
Salaries expense
4,600
Salaries payable
700
In addition, the company had common stock of $31,000 at the
beginning of the year and issued an additional $3,100 during the...
Problem 1-5B Prepare financial statements (L01-3) Tar Heel Corporation provides the following information at the end of 2021. Salaries payable to workers at the end of the year Advertising expense for the year Building that has been purehased Supplies at the end of the year Retained earnings Utility expense for the year Note payable to the bank Service revenue recognized during the year Salary expense for the year Accounts payable to suppliers Dividends paid to shareholders during the year Common...
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