The following information relates to La Greca Co. for the year 2015. Retained earnings, January 1, 2015
Question:
The following information relates to La Greca Co. for the year 2015.
Retained earnings, January 1, 2015 .......$48,000
Dividends during 2015 ........... 5,000
Service revenue .............. 62,500
Salaries and wages expense .......... 28,000
Advertising expense ............. $ 1,800
Rent expense ............... 10,400
Utilities expense ............. 3,100
Instructions
After analyzing the data, prepare an income statement and a retained earnings statement for the year ending December 31, 2015.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 81% (11 reviews)
LA GRECA CO Income Statement For the Year Ended December 31 2015 Revenues Service revenue 62500 ...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Financial Accounting
ISBN: 9781118334324
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted:
Students also viewed these Accounting questions
-
The following information relates to La Greca Co. for the year 2019. Retained earnings, January 1, 2019............$48,000.........Advertising expense.......$ 1,800 Dividends during...
-
The following information relates to the Plus Factors Group plc for the years to 30 September 20X8 and 20X9: Ordinary dividends were declared as follows: Interim 1.12 pence per share (20X8, l.67p)...
-
The following information relates to Dell City, whose first fiscal year ended December 31, 2019. Assume Dell has only the long-term debt as specified below and only the funds necessitated by the...
-
Cedric has the demand function, namely q = 0.02m - 2p, where m is income and p is price. Cedrics initial income is $6,000 and he initially had to pay a price of $40 per bottle of claret. The price of...
-
Potassium-40 decays to argon-40 with a half-life of 1.27 109 yr. What is the age of a rock in which the mass ratio of 40Ar to 40K is 4.2?
-
Starting with methyl propanoate, how could you prepare 4-methyl-3-heptanone? CH3CH3COCH3CH3CH CCHCH CH2CH3 methyl propanoate CH3 4-methyl-3-heptanone
-
For a sample of motorcycle speeds, name the values that constitute the 5-number summary
-
The following items were derived from Woodbine Circle Corporations adjusted trial balance on December 31, 2016: Other financial data for the year ended December 31, 2016: Federal Income Taxes Paid...
-
Let us consider the two following Treasury bonds whose characteristics are the following: Maturity (years) Coupon rate (%) Price Name Bond 1 6 Bond 2 20 5 0 100 31.18 Your investment horizon is 6...
-
Is it possible to transmit a digital signal, e.g., coded as square wave as used inside a computer, using radio transmission without any loss? Why?
-
Two items are omitted from each of the following summaries of balance sheet and income statement data for two corporations for the year 2015, Plunkett Co. and Herring Enterprises. Instructions...
-
Robyn Howser is the bookkeeper for Madison Company. Robyn has been trying to get the balance sheet of Madison Company to balance. Madisons balance sheet is shown below. Instructions Prepare a correct...
-
For high-speed motion through the air such as the skydiver shown in the following figure, falling before the parachute is opened air resistance is closer to a power of the instantaneous velocity...
-
Always provide specific examples to support your main points, including, but not limited to, where appropriate: specific theories, materials, lectures, discussions, etc. In all questions, make sure...
-
Please answer the following question: The State ofAirmaniais a developed country with very high environmental standards applicable to domestic industries. Consumers inAirmaniahave a strong demandfor...
-
You work at a hospital and you have been asked to give a presentation to the medical staff summarizing the key points of a pending bill in your state that would change the requirements for newborn...
-
Identify factors that drive change within an organization, community, and individual 2. Identify barriers to change 3. Apply change management models and concepts to demonstrate an understanding of...
-
What is the difference between given a friend some advice and opinion versus engaging in the authorized practice of law?
-
A refrigeration process includes a compressor, as explained in detail in Chapter 5, because it is necessary to change the boiling point of the refrigerant, which is done by controlling the pressure....
-
[a] Two foam blocks, each with a charge of 19 micro coulombs (1 C = 10-6 C), are both held in place 19 cm apart in the east-west direction. A foam ball with a charge 49 C is placed 55 cm north of the...
-
Consider two options with the same strike price and for the same underlying asset. The two options differ only with respect to the time to expiration. Option A expires in three months and Option B...
-
Describe the direct method for determining net cash provided by operating activities.
-
Give the formulas under the direct method for computing (a) Cash receipts from customers and (b) Cash payments to suppliers.
-
Give the formulas under the direct method for computing (a) Cash receipts from customers and (b) Cash payments to suppliers.
-
Smith Corp. bonds were issued 25 years ago. These bonds have a 15% required rate of return, mature in 11 years, and have a current market value of $995.10. Find the coupon rate. Round intermediate...
-
On January 1, 2018, Waterway Industries had 116000 shares of its $5 par value common stock outstanding. On June 1, the corporation acquired 9800 shares of stock to be held in the treasury. On...
-
Duval inc budgets direct materials at $1/liter and requires 4 liters per unit of finished product. Aprils activities show usage of 832 liters to complete 196 units at a cost of $798.72. Calculate the...
Study smarter with the SolutionInn App