The information for Bland Media Company at the end of the fiscal year, June 30, 20X8...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The information for Bland Media Company at the end of the fiscal year, June 30, 20X8 are listed in this spreadsheet . Additional information: Capital were $145000 at May 1, 20X7, additional capital was $35,000 and dividends paid during the year were $40000. Instructions: 0 fx B C D E F Accounts Payable Accounts Receivable Cash Bland Media Information: Supplies $ 25,000 Rent Expense $ 75,000 210,000 9,000 146,000 Supplies Expense 12,000 Common Stock 35,000 Taxes Expense 10,000 Fees Earned 875,000 Utilities Expense 38,000 Miscellaneous Expense 15,000 Wage Expense 525,000 1) Prepare an Income Statement. Bland Media Company Income Statement For the Year Ended June 30, 20X8 Revenues Fees Earned Expenses Rent Expense > > > 75000 875000 Rent Expense > Miscellaneous Expense Total Expenses Net Income 75000 15000 675000 200000 2) Prepare a Statement of Owner's Equity [+]. Please use the link to enter into the statement. Enter any deductions as negative numbers. Common Stock Beginning Balance Additional Stock Ending Balance Retained Earnings Beginning Balance Add Net Income Deduct Dividends Ending Balance Bland Media Company Statement of Owner's Equity For the Year Ended June 30, 20X8 Capital Beginning Balance 145000 Additional Capital 35000 Deduct Dividends -40000 Add Net Income Ending Balance 3) Prepare a Balance Sheet. Assets Accounts Receivable Cash Supplies Total Assets Liabilities Total Liabilities Bland Media Company Balance Sheet June 30, 20X8 210000 146000 9000 365000 25000 25000 Liabilities Total Liabilities Owner's Equity Total Liabilities and Stockholder's Equity 25000 25000 The information for Bland Media Company at the end of the fiscal year, June 30, 20X8 are listed in this spreadsheet . Additional information: Capital were $145000 at May 1, 20X7, additional capital was $35,000 and dividends paid during the year were $40000. Instructions: 0 fx B C D E F Accounts Payable Accounts Receivable Cash Bland Media Information: Supplies $ 25,000 Rent Expense $ 75,000 210,000 9,000 146,000 Supplies Expense 12,000 Common Stock 35,000 Taxes Expense 10,000 Fees Earned 875,000 Utilities Expense 38,000 Miscellaneous Expense 15,000 Wage Expense 525,000 1) Prepare an Income Statement. Bland Media Company Income Statement For the Year Ended June 30, 20X8 Revenues Fees Earned Expenses Rent Expense > > > 75000 875000 Rent Expense > Miscellaneous Expense Total Expenses Net Income 75000 15000 675000 200000 2) Prepare a Statement of Owner's Equity [+]. Please use the link to enter into the statement. Enter any deductions as negative numbers. Common Stock Beginning Balance Additional Stock Ending Balance Retained Earnings Beginning Balance Add Net Income Deduct Dividends Ending Balance Bland Media Company Statement of Owner's Equity For the Year Ended June 30, 20X8 Capital Beginning Balance 145000 Additional Capital 35000 Deduct Dividends -40000 Add Net Income Ending Balance 3) Prepare a Balance Sheet. Assets Accounts Receivable Cash Supplies Total Assets Liabilities Total Liabilities Bland Media Company Balance Sheet June 30, 20X8 210000 146000 9000 365000 25000 25000 Liabilities Total Liabilities Owner's Equity Total Liabilities and Stockholder's Equity 25000 25000
Expert Answer:
Answer rating: 100% (QA)
The question seems to request assistance with preparing financial statements for Bland Media Company Specifically it looks like you are asking for hel... View the full answer
Related Book For
Advanced Accounting
ISBN: 978-0538480284
11th edition
Authors: Paul M. Fischer, William J. Tayler, Rita H. Cheng
Posted Date:
Students also viewed these accounting questions
-
A website that reviews recent movies lists 6 five-star films (the highest rating), 17 four-star films, 14 three-star films, 9 two-star films, and 4 one-star films. Make a frequency table for the data...
-
What are the differences between a foreign currency orientation and a U.S. dollar orientation regarding the translation of foreign currency operations?
-
Refer to the data in Exercise 10.60. Suppose you wish to establish that the mean response of 35-44 year olds is larger than that of 19-24 year olds by more than 150 dollars. (a) Formulate the null...
-
Describe some of the history and current practice of race in the United States.
-
The manager of the aerospace division of General Aeronautics has estimated the price it can charge for providing satellite launch services to commercial firms. Her most optimistic estimate (a price...
-
PUC Enterprise guarantees that it will maintain a minimum cash balance of $10,000 at the end of each month as part of a credit agreement with its bank. Consequently, the bank has agreed that the...
-
Memory in the Movies: write and summarize and critique the accuracy of how memory is depicted in the movie Memento. The objective of the written assignment is to provide an opportunity for you to...
-
PT NUSA JAYA is considering setting up several branches to help sell its product line. As an experiment the company set up a branch in Bandung on year 2017 and has been operating for 3 years. During...
-
A company allocates overhead using a standard overhead rate of $4.80 per direct labor hour and 2 direct labor hours per unit. For this period, the company planned production of 10,140 units (80% of...
-
A company allocates overhead using a standard overhead rate of $4.80 per direct labor hour and 2 direct labor hours per unit. For this period, the company planned production of 10,140 units (80% of...
-
New tire retreading equipment, acquired at a cost of $906,250 on September 1 at the beginning of a fiscal year, has an estimated useful life of 5 years and an estimated residual value of $77,900. The...
-
Tubs to You Company distributes bath tubs. Line items from the company's most recent contribution format income statement follow: Sales $60,000 Variable expenses $36,000 Fixed expenses $8,000...
-
What level of security and privacy, we need to reach in the micro-blogging? Why improving security and privacy is important in the micro-blogging? How to improve the security and privacy in the...
-
What services are provided by the provincial and territorial governments?
-
A mass attached to a linear spring sliding on a surface with Coulomb damping is an example of a nonlinear system. Indicate whether the statement presented is true or false. If true, state why. If...
-
The swinging spring is an example of a two degree-of-freedom system with a cubic nonlinearity. Indicate whether the statement presented is true or false. If true, state why. If false, rewrite the...
-
The convolution integral can be applied to solve nonlinear problems. Indicate whether the statement presented is true or false. If true, state why. If false, rewrite the statement to make it true.
Study smarter with the SolutionInn App