Requirement 1. Prepare the income statement for the year ending December 31, 2018 (Use Perfect Advertising...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Requirement 1. Prepare the income statement for the year ending December 31, 2018 (Use Perfect Advertising Services Revenues Service Revenue Expenses Salaries Expense Supplies Expense Depreciation Expense-Building Depreciation Expense-Furniture Advertising Expense Income Statement Year Ended December 31, 2018 Total Expenses Net Income (Loss) Requirements 27500 9000 2400 600 12800 1. Prepare the income statement for the year ending December 31, 2018 2. Prepare the statement of retained earnings for the year ending December 31, 2018 2. Prepare the classified balance sheet as of December 31, 2018. Use the report form 38200 .X Data table Account Title Cash December 31, 2018 Accounts Receivable Office Supplies Land Building Accumulated Depreciation-Building Furniture Accumulated Depreciation-Furniture Accounts Payable Salaries Payable Unearned Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Supplies Expense Depreciation Expense-Building Depreciation Expense-Furniture Advertising Expense Total Print $ Balance Debit 14,200 12,500 6,400 18,300 49,800 18,900 19,600 Done $ Credit 35,100 14,600 9,800 7,700 16,500 28,500 41,600 38,200 27.500 9,000 2,400 600 12,800 $ 192,000 $ 192,000 - X he ba Requirement 1. Prepare the income statement for the year ending December 31, 2018 (Use Perfect Advertising Services Revenues Service Revenue Expenses Salaries Expense Supplies Expense Depreciation Expense-Building Depreciation Expense-Furniture Advertising Expense Income Statement Year Ended December 31, 2018 Total Expenses Net Income (Loss) Requirements 27500 9000 2400 600 12800 1. Prepare the income statement for the year ending December 31, 2018 2. Prepare the statement of retained earnings for the year ending December 31, 2018 2. Prepare the classified balance sheet as of December 31, 2018. Use the report form 38200 .X Data table Account Title Cash December 31, 2018 Accounts Receivable Office Supplies Land Building Accumulated Depreciation-Building Furniture Accumulated Depreciation-Furniture Accounts Payable Salaries Payable Unearned Revenue Common Stock Retained Earnings Dividends Service Revenue Salaries Expense Supplies Expense Depreciation Expense-Building Depreciation Expense-Furniture Advertising Expense Total Print $ Balance Debit 14,200 12,500 6,400 18,300 49,800 18,900 19,600 Done $ Credit 35,100 14,600 9,800 7,700 16,500 28,500 41,600 38,200 27.500 9,000 2,400 600 12,800 $ 192,000 $ 192,000 - X he ba
Expert Answer:
Answer rating: 100% (QA)
Net Salesrevenue Income Statement 31Dec18 Expenses Depreciation Expensebuilding Salaries Expense Dep... View the full answer
Related Book For
Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9780134486840
6th Edition
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
Posted Date:
Students also viewed these accounting questions
-
The adjusted trial balance for Green Advertising Services is presented below: Requirements 1. Prepare the income statement for the year ending December 31, 2018. 2. Prepare the statement of retained...
-
Prepare statement of cash flows using the indirect method. The income statement for 2014 and the balance sheets for 2014 and 2013 are presented for Hoover Industries, Inc. Additional information...
-
The adjusted trial balance for Burlington Advertising Services is presented below: Requirements 1. Prepare the income statement for the year ending December 31, 2016. 2. Prepare the statement of...
-
Attlee Ltd holds 28% of the issued shares of Nehru Ltd. Attlee Ltd acquired these shares on 1 July 2019 and on this date all the identifiable assets and liabilities of Nehru Ltd were recorded at...
-
Would you be in favor of freer trade or against it in the following circumstances? a. The move to freer trade is in another country and you are an exporter to that country. b. The move to freer trade...
-
Brian McGarrigle went to Les Arcs for his annual winter vacation. Unfortunately, he suffered a broken ankle while skiing and had to spend two days at the Hpital de Grasse. McGarrigles insurance...
-
The Nurses Health Study was started in 1976 with 121,700 female registered nurses who were between the ages of 30 and 55. The subjects were surveyed in 1976 and every two years thereafter. The study...
-
Alarico Printing owned a piece of equipment that cost $16,200 and on which it had recorded $9,000 of accumulated depreciation. The company disposed of the equipment on January 2, the first day of...
-
When a company uses the current rate method, which means the net investment in a foreign operation is considered to be exposed to foreign exchange risk, what are some of the characteristics? Issues?...
-
Craig Fisher started a lawn service called Craigs Quick Cut to earn money over the summer months. Fisher has decided to use the following accounts for recording transactions: Assets Revenue Cash Lawn...
-
Blast! stock has a beta of 0.7 and is currently selling for 23$. Your DCF analysis indicates that Blast! will trade at 22$ a year from today and you expect that the company will pay dividend of 2$...
-
How you, as managers, should behave in order to ensure that all staff in the workplace are treated with dignity and respect.
-
Under a Christian Worldview how does a monopoly hinder ethical conduct of business?
-
Classify each of the following as a mixture or a pure substance. Drag the appropriate items to their respective bins. Pure substance ethane (CH6) milk CaCO3 (calcium carbonate). Mixture soil mercury...
-
6. Elaborate the FIVE (5) dimensions of service quality that RW Cruise operation team need to sustain from the moment passengers embark at Port Klang Cruise Terminal (PKCT) until disembark at the...
-
Find a portfolio with payoff at time T equal to if 0 S(T) 10, if 10 S(T) 30, if 30 S(T). VT = 2ST + 30, -3ST+80, ST-40, Here, ST denotes the price of the underlying asset at time T. You can hold...
-
Following is information on two alternative investments being considered by Jolee Company. The company requires a 10% return from investments. Following is information on two alternative investments...
-
Study the pictures/images below. Obviously these was focus on LT sociology, anthropology and poltical science. Try to do some analysis by finding clues that are synonymous with the main concepts....
-
Broadway Communications reported the following figures in its annual financial statements: Cost of Goods Sold ................................ $ 18,400 Beginning Merchandise Inventory ..................
-
On June 1, Hunting Man Magazine collected cash of $63,000 on future annual subscriptions starting on July 1. Requirements 1. Journalize the transaction to record the collection of cash on June 1. 2....
-
Consider the following note payable transactions of Creative Video Productions. 2017 Aug. 1 Purchased equipment costing $16,000 by issuing a one-year, 9% note payable. Dec. 31 Accrued interest on the...
-
During 2019, Truong Ltd disposed of four different noncurrent assets. On 1 January 2019 the accounts were as follows. Truong Ltd depreciates its motor vehicles and machines by the straightline method...
-
On 1 July 2019, Weiland Pty Ltd owned several farming vehicles that had cost a total of $155 000. Accumulated depreciation on these vehicles to 1 July 2019 amounted to $73 000. On 30 September 2019,...
-
On 30 June 2019, Wong Ltd reported the following information for equipment in its statement of financial position. Investigation of the property and plant records showed that the equipment consisted...
Study smarter with the SolutionInn App