The completed financial statement columns of the worksheet for Pharoah Company are shown below. Pharoah Company...

 

 

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The completed financial statement columns of the worksheet for Pharoah Company are shown below. Pharoah Company Worksheet For the Year Ended December 31, 2017 Statement of Financial Posițion Income Statement Account Account Titles Dr. Cr. Dr. Cr. No. 101 Cash 6,992 112 Accounts Receivable 7,545 130 Prepaid Insurance 2,073 157 Equipment 33,235 158 Accumulated Depreciation-Equip. 10,489 201 Accounts Payable 11,208 212 Salaries and Wages Payable 3,174 311 Share Capital-Ordinary 20,000 320 Retained Earnings 10,000 332 Dividends 1,755 400 Service Revenue 43,902 622 Maintenance and Repairs Expense 3,981 711 Depreciation Expense 2,860 722 Insurance Expense 1,058 726 Salaries and Wages Expense 35,144 732 Utilities Expense 4,130 Totals 47,173 43,902 51,600 54,871 Net Loss 3,271 3,271 47,173 47,173 54,871 54,871 Prepare an income statement (amounts in U.S. dollars). (If the amount for net income is negatíve, enter amount with either a negative sign preceding the number, e.g. -45 or parenthesis, e.g. (45).) PHAROAH COMPANY Income Statement For the Year Ended December 31 , 2017 | Revenues Service Revenue 43902 Expenses Maintenance and Repai 3981 Depreciation Expense 2860 Insurance Expense 1058 Salaries and Wages Exp 35144 Utilities Expense 4130 Total Expenses 47173 Net Income / (Loss) -3271 (a2) Your answer is correct. Prepare retained earnings statement (amounts in U.S. dollars). PHAROAH COMPANY Retained Earnings Statement For the Year Ended December 31 , 2017 Retained Earnings, January 1 10000 Less v Net Income / (Loss) -3271 Dividends -1755 -5026 Retained Earnings, December 31 v 4974 Prepare a classified statement of financial position (amounts in U.S. dollars). (List current assets in the reverse order of liquidity.) PHAROAH COMPANY Statement of Financial Position Assets Equity and Liabilities The completed financial statement columns of the worksheet for Pharoah Company are shown below. Pharoah Company Worksheet For the Year Ended December 31, 2017 Statement of Financial Posițion Income Statement Account Account Titles Dr. Cr. Dr. Cr. No. 101 Cash 6,992 112 Accounts Receivable 7,545 130 Prepaid Insurance 2,073 157 Equipment 33,235 158 Accumulated Depreciation-Equip. 10,489 201 Accounts Payable 11,208 212 Salaries and Wages Payable 3,174 311 Share Capital-Ordinary 20,000 320 Retained Earnings 10,000 332 Dividends 1,755 400 Service Revenue 43,902 622 Maintenance and Repairs Expense 3,981 711 Depreciation Expense 2,860 722 Insurance Expense 1,058 726 Salaries and Wages Expense 35,144 732 Utilities Expense 4,130 Totals 47,173 43,902 51,600 54,871 Net Loss 3,271 3,271 47,173 47,173 54,871 54,871 Prepare an income statement (amounts in U.S. dollars). (If the amount for net income is negatíve, enter amount with either a negative sign preceding the number, e.g. -45 or parenthesis, e.g. (45).) PHAROAH COMPANY Income Statement For the Year Ended December 31 , 2017 | Revenues Service Revenue 43902 Expenses Maintenance and Repai 3981 Depreciation Expense 2860 Insurance Expense 1058 Salaries and Wages Exp 35144 Utilities Expense 4130 Total Expenses 47173 Net Income / (Loss) -3271 (a2) Your answer is correct. Prepare retained earnings statement (amounts in U.S. dollars). PHAROAH COMPANY Retained Earnings Statement For the Year Ended December 31 , 2017 Retained Earnings, January 1 10000 Less v Net Income / (Loss) -3271 Dividends -1755 -5026 Retained Earnings, December 31 v 4974 Prepare a classified statement of financial position (amounts in U.S. dollars). (List current assets in the reverse order of liquidity.) PHAROAH COMPANY Statement of Financial Position Assets Equity and Liabilities The completed financial statement columns of the worksheet for Pharoah Company are shown below. Pharoah Company Worksheet For the Year Ended December 31, 2017 Statement of Financial Posițion Income Statement Account Account Titles Dr. Cr. Dr. Cr. No. 101 Cash 6,992 112 Accounts Receivable 7,545 130 Prepaid Insurance 2,073 157 Equipment 33,235 158 Accumulated Depreciation-Equip. 10,489 201 Accounts Payable 11,208 212 Salaries and Wages Payable 3,174 311 Share Capital-Ordinary 20,000 320 Retained Earnings 10,000 332 Dividends 1,755 400 Service Revenue 43,902 622 Maintenance and Repairs Expense 3,981 711 Depreciation Expense 2,860 722 Insurance Expense 1,058 726 Salaries and Wages Expense 35,144 732 Utilities Expense 4,130 Totals 47,173 43,902 51,600 54,871 Net Loss 3,271 3,271 47,173 47,173 54,871 54,871 Prepare an income statement (amounts in U.S. dollars). (If the amount for net income is negatíve, enter amount with either a negative sign preceding the number, e.g. -45 or parenthesis, e.g. (45).) PHAROAH COMPANY Income Statement For the Year Ended December 31 , 2017 | Revenues Service Revenue 43902 Expenses Maintenance and Repai 3981 Depreciation Expense 2860 Insurance Expense 1058 Salaries and Wages Exp 35144 Utilities Expense 4130 Total Expenses 47173 Net Income / (Loss) -3271 (a2) Your answer is correct. Prepare retained earnings statement (amounts in U.S. dollars). PHAROAH COMPANY Retained Earnings Statement For the Year Ended December 31 , 2017 Retained Earnings, January 1 10000 Less v Net Income / (Loss) -3271 Dividends -1755 -5026 Retained Earnings, December 31 v 4974 Prepare a classified statement of financial position (amounts in U.S. dollars). (List current assets in the reverse order of liquidity.) PHAROAH COMPANY Statement of Financial Position Assets Equity and Liabilities The completed financial statement columns of the worksheet for Pharoah Company are shown below. Pharoah Company Worksheet For the Year Ended December 31, 2017 Statement of Financial Posițion Income Statement Account Account Titles Dr. Cr. Dr. Cr. No. 101 Cash 6,992 112 Accounts Receivable 7,545 130 Prepaid Insurance 2,073 157 Equipment 33,235 158 Accumulated Depreciation-Equip. 10,489 201 Accounts Payable 11,208 212 Salaries and Wages Payable 3,174 311 Share Capital-Ordinary 20,000 320 Retained Earnings 10,000 332 Dividends 1,755 400 Service Revenue 43,902 622 Maintenance and Repairs Expense 3,981 711 Depreciation Expense 2,860 722 Insurance Expense 1,058 726 Salaries and Wages Expense 35,144 732 Utilities Expense 4,130 Totals 47,173 43,902 51,600 54,871 Net Loss 3,271 3,271 47,173 47,173 54,871 54,871 Prepare an income statement (amounts in U.S. dollars). (If the amount for net income is negatíve, enter amount with either a negative sign preceding the number, e.g. -45 or parenthesis, e.g. (45).) PHAROAH COMPANY Income Statement For the Year Ended December 31 , 2017 | Revenues Service Revenue 43902 Expenses Maintenance and Repai 3981 Depreciation Expense 2860 Insurance Expense 1058 Salaries and Wages Exp 35144 Utilities Expense 4130 Total Expenses 47173 Net Income / (Loss) -3271 (a2) Your answer is correct. Prepare retained earnings statement (amounts in U.S. dollars). PHAROAH COMPANY Retained Earnings Statement For the Year Ended December 31 , 2017 Retained Earnings, January 1 10000 Less v Net Income / (Loss) -3271 Dividends -1755 -5026 Retained Earnings, December 31 v 4974 Prepare a classified statement of financial position (amounts in U.S. dollars). (List current assets in the reverse order of liquidity.) PHAROAH COMPANY Statement of Financial Position Assets Equity and Liabilities