Income Statement Statement of Stockholders’ Equity Revenues #33 Common stock Retained earnings Expenses: Beginning $300,000 $275,000 Salaries $325,000 Issuance #35 Administrative 340,000 Net income 125,000 Utilities 10,000 Dividends #36 Total expenses 675,000 Ending $500,000 $350,000 Net income #34 Balance Sheet Assets Liabilities Cash $45,000 Accounts payable $20,000 A/R 55,000 Notes payable 250,000 Supplies #37 Total liabilities $270,000 Prepaid...

4.1 Ratings (645 Votes)

Income Statement		Statement of Stockholders’ Equity
Revenues	800,000			Common stock	Retained earnings
Expenses:		Beginning		$300,000	$275,000
Salaries	$325,000	Issuance		200,000
Administrative	340,000	Net income			125,000
Utilities	10,000	Dividends			50,000
Total expenses	675,000	Ending		$500,000	$350,000
Net income	125,000
Balance Sheet
Assets			Liabilities
Cash	$45,000		Accounts payable		$20,000
A/R	55,000		Notes payable		250,000
Supplies	200		Total liabilities		$270,000
Prepaid rent	3,000		Stockholders’ Equity
Equipment	450,000		Common stock		5,00,000
Building	566,800		Retained earnings		350,000
			Total stockholders’ equity		850,000
Total assets	1,120,000		Total L and SE		1,120,000

33. $800,000 Revenue: 37. $200 Supplies:

34. $125,000 Net Income: 38. $1,120,000 Total Assets:

35. $200,000 Issuance: 39. $850,000 Stockholders’ Equity:

36. $50,000 Dividends: 40. $1,120,000 Total L & SE:

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