You are provided with the following information for Carla Vista Co., effective as of its April 30,
Question:
You are provided with the following information for Carla Vista Co., effective as of its April 30, 2022, year-end.
Accounts payable | $ 880 | |
Accounts receivable | 880 | |
Accumulated depreciation—equipment | 660 | |
Cash | 1,220 | |
Common stock | 17,400 | |
Cost of goods sold | 1,070 | |
Depreciation expense | 375 | |
Dividends | 340 | |
Equipment | 2,570 | |
Goodwill | 1,600 | |
Income tax expense | 155 | |
Income taxes payable | 130 | |
Insurance expense | 340 | |
Interest expense | 580 | |
Inventory | 950 | |
Investment in land | 14,240 | |
Land | 3,000 | |
Mortgage payable (long-term) | 3,300 | |
Notes payable (short-term) | 60 | |
Prepaid insurance | 50 | |
Retained earnings (beginning) | 2,000 | |
Salaries and wages expense | 700 | |
Salaries and wages payable | 240 | |
Sales revenue | 4,600 | |
Stock investments (short-term) | 1,200 |
(a1)
Partially correct answer icon your answer is partially correct.
Prepare an income statement for Carla Vista Co. for the year ending April 30, 2022. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
CARLA VISTA CO. | ||
---|---|---|
select an opening name for section one DividendsExpensesNet Income / (Loss)Retained Earnings, May 1, 2021Retained Earnings, April 30, 2022RevenuesTotal ExpensesTotal Revenues | ||
enter an income statement item | $enter a dollar amount | |
select an opening name for section two DividendsExpensesNet Income / (Loss)Retained Earnings, May 1, 2021Retained Earnings, April 30, 2022RevenuesTotal ExpensesTotal Revenues | ||
enter an income statement item | $enter a dollar amount | |
enter an income statement item | enter a dollar amount | |
enter an income statement item | enter a dollar amount | |
enter an income statement item | enter a dollar amount | |
enter an income statement item | enter a dollar amount | |
enter an income statement item | enter a dollar amount | |
select a closing name for section two DividendsExpensesNet Income / (Loss)Retained Earnings, May 1, 2021Retained Earnings, April 30, 2022RevenuesTotal ExpensesTotal Revenues | enter a total of the six previous amounts | |
select a closing name for this statement DividendsExpensesNet Income / (Loss)Retained Earnings, May 1, 2021Retained Earnings, April 30, 2022RevenuesTotal ExpensesTotal Revenues | $enter a total net income or loss amount |
Financial Accounting Tools for Business Decision Making
ISBN: 978-0470239803
5th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso