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View Policies Current Attempt in Progress These financial statement items are for Carla Vista Co. at...


View Policies Current Attempt in Progress These financial statement items are for Carla Vista Co. at year-end, July 31, 2022
CARLA VISTA CO. Income Statement For the Year Ended July 31, 2022 Revenues Service Revenue 67800 Rent Revenue 9800 Total Reve
Prepare a retained earnings statement for the year. Carla Vista Co. did not issue any new stock during the year. CARLA VISTA
Prepare a classified balance sheet at ly 31. Atsioner of CARLA VISTA CO Balance Sheet Assets < Liabilities and Stockholders
View Policies Current Attempt in Progress These financial statement items are for Carla Vista Co. at year-end, July 31, 2022 Salaries and wages payable Salaries and wages expense Supplies expense Equipment Accounts payable Service revenue Rent revenue Notes payable (due in 2025) Common stock Cash Accounts receivable Accumulated depreciation-equipment Dividends Depreciation expense Retained earnings (beginning of the year) $3,800 59,200 16,900 17,860 3,600 67,800 9,800 3,000 16,000 34,140 11,000 7,400 4,000 4,000 35,700 Prepare an income statement for the year. Carla Vista Co. did not issue any new stock during the year. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses es (451)
CARLA VISTA CO. Income Statement For the Year Ended July 31, 2022 Revenues Service Revenue 67800 Rent Revenue 9800 Total Revenues 77600 Expenses Salaries and Wages Expense 59200 Supplies Expense 16900 I Depreciation Expense 4000 Total Expenses 80100 Net Income /(Loss) 2500 e Textbook and Media List of Accounts Prepare a retained earnings statement for the year. Carla Vista Co. did not issue any new stock during the year.
Prepare a retained earnings statement for the year. Carla Vista Co. did not issue any new stock during the year. CARLA VISTA CO. Retained Earnings Statement $ > eTextbook and Media List of Accounts Prepare a classified balance sheet at July 31. (List Current Assets in order of liquidity) CARLA VISTA CO. Balance Sheet Assets
Prepare a classified balance sheet at ly 31. Atsioner of CARLA VISTA CO Balance Sheet Assets < Liabilities and Stockholders' Equity << << I << ih Textbool and Media List of Accounts Como debate to... 15.20 Cum Dita Textbook and Medi List of Accounts
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Answer

   Carla Vista co

Income statement

   For the Year Ended July 31st, 2022

Particulars $ $
Revenue:
Rent revenue 9,800
Service revenue 67,800
Total revenue 77,600
Expenses:
Depreciation expense 4,000
Salaries and wages expense 59,200
Supplies expense 16,900
Less total expenses 80,100
Net loss (2,500)

   Carla Vista co

    Statement of retained earnings

For the Year Ended July 31st, 2022

Particulars $ $
Beginning balance 35,700
Less Dividends 4,000
Less Net loss 2,500
(6,500)
Ending balance 29,200

Carla Vista co

Balance sheet

        As on 31st July, 2022

Particulars $ $
Assets
Current assets:
Cash 34,140
Account receivables 11,000
Total current assets 45,140
Non current assets:
Equipment 17,860
Less accumulated depreciation (7,400)
Net Equipment 10,460
Total non current assets 10,460
Total Assets 55,600

Liabilities and shareholders equity

Liabilities
Current liabilities:
Salaries and wages payable 3,800
Account payable 3,600
Total current liabilities 7,400
Long term liabilities:
Note payable 3,000
Total liabilities 10,400
Shareholders equity:
Common stock 16,000
Retained earnings (Ending balance of the year) 29,200
Total shareholders equity 45,200
Total liabilities and share holder's equity 55,600

The note payable due in 2025 is a long term liability. Net value of equipment is computed by subtracting accumulated depreciation from its gross value of $17,860.

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