These financial statement items are for Nurmury Corporation at year-end, December 31, 2015:
These financial statement items are for Nurmury Corporation at year-end, December 31, 2015:
Salaries expense $20,000
Utilities expense 14,900
Equipment 15,900
Accounts Payable 6,220
Sales Revenue 69,600
Service Revenue 20,000
Common stock 29,400
Cost of Goods Sold (COGS) 38,700
Cash 10,140
Accounts receivable 8,780
Short-term investments 10,000
Dividends 14,000
Inventories X
Salaries payable 5,000
Retained earnings (Jan. 1, 2011) 25,200
Calculate the net income for the year.
Homework Answers
Answer:
Net income= $ 16,000
Working:
| Nurmury corporation | ||
| Income statement | ||
| For the Year Ended December 31, 2015 | ||
| Revenue | ||
| Sales revenue | $ 69,600 | |
| Service revenue | $ 20,000 | |
| Total Revenue (A) | $ 89,600 | |
| Expenses: | ||
| Cost of Goods Sold | $ 38,700 | |
| Salaries expense | $ 20,000 | |
| Utilities expense | $ 14,900 | |
| Total Expense (B) | $ 73,600 | |
| Net Income (A-B) | $ 16,000 | |
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These financial statement items are for Nurmury Corporation at
year-end, December 31, 2015:
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Question 6 These financial statement items are for Sandhill Corporation at year end, July 31, 2018:...
Question 6
These financial statement items are for Sandhill Corporation at
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Operating expenses
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hese financial statement items are for Crane Corporation at year end, July 31, 2018: Operating expenses...
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Exercise 4-09 al,a2-b Plevin Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below. Credit Debit $9,840 8,780 15,900 Plevin Company Adjusted Trial Balance July 31, 2019 No. Account Titles 101 Cash Tu 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Unearned Rent Revenue 311 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 429 Rent Revenue 711...
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Question 6
These financial statement items are for Sandhill Corporation at
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Operating expenses
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Interest payable
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Salaries expense
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Interest payable
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Supplies expense
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61,700
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Accounts payable
4,720
Rent expense
11,000
Service revenue
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19,500
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hese financial statement items are for Crane Corporation at year
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$32,500
Interest payable
$ 2,000
Salaries expense
46,200
Supplies expense
1,700
Unearned revenue
12,000
Dividends declared
12,500
Utilities expense
2,400
Depreciation expense
2,800
Equipment
61,700
Retained earnings, Aug. 1, 2017
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Accounts payable
4,720
Rent expense
11,000
Service revenue
115,100
Income tax expense
5,800
Rent revenue
19,500
Supplies
1,600
Common shares
24,500
Held for trading investments
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Cash
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Bank loan payable (due Dec....
thank you
Exercise 4-09 al,a2-b Plevin Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below. Credit Debit $9,840 8,780 15,900 Plevin Company Adjusted Trial Balance July 31, 2019 No. Account Titles 101 Cash Tu 112 Accounts Receivable 157 Equipment 158 Accumulated Depreciation-Equip. 201 Accounts Payable 208 Unearned Rent Revenue 311 Common Stock 320 Retained Earnings 332 Dividends 400 Service Revenue 429 Rent Revenue 711...
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