prepare the balance sheet for drought design studio as of december 31 2016 the asset 4372931

Prepare the balance sheet for Drought Design Studio as of December 31, 2016. The assets, liabilities, and equities of Drought Design Studio have the following balances at December 31, 2016. The retained earnings was $31,000 at the beginning of the year with common stock of $20,000 and dividends of $55,000 at year end. Notes Payable […]

prepare the cash flow statement under the direct format for michael hart associates 4372936

Prepare the cash flow statement under the direct format for Michael Hart Associates using the data provided in E22-7. In E22-7 Michael Hart Associates closed its books for the current year. The firm provided the following comparative balance sheets and income statement. Michael Hart Associates Income Statement For the Year Ended December 31 Current Year […]

prepare the necessary journal entry assuming that all the options granted by on the 4372946

Prepare the necessary journal entry assuming that all the options granted by On-the-Fly in BE19-5 expired and were not exercised by any of the company’s employees. In BE19-5 On-the-Fly Limousine Services granted 5,000 options to acquire 5,000 shares of its $ 1 par value common stock. At the grant date, the fair value of the […]

prepare the statement of retained earnings for drought design studio for the year en 4372952

Prepare the statement of retained earnings for Drought Design Studio for the year ending December 31, 2016. The assets, liabilities, and equities of Drought Design Studio have the following balances at December 31, 2016. The retained earnings was $31,000 at the beginning of the year with common stock of $20,000 and dividends of $55,000 at […]

preparing a multistep income statement with sales discounts and sales returns and al 4372956

Preparing a Multistep Income Statement with Sales Discounts and Sales Returns and Allowances and Computing the Gross Profit Percentage Big Tommy Corporation is a local grocery store organized seven years ago as a corporation. The bookkeeper prepared the following statement (assume that all amounts are correct, but note the incorrect terminology and format): Required: 1. […]

preparing the statement of cash flows pushing daisies homes had the following cash t 4372959

Preparing the statement of cash flows Pushing Daisies Homes had the following cash transactions for the month ended July 31, 2016. Cash receipts: Collections from customers ….. $ 24,000 Issued common stock ….. 12,000 Cash payments: Rent …………… 3,000 Utilities ………… 900 Salaries ………… 1,600 Purchase of equipment ….. 18,000 Payment of cash dividends ….. […]

preparing the statement of retained earnings prepare the statement of retained earni 4372960

Preparing the statement of retained earnings Prepare the statement of retained earnings of Decorating Arrangements for the year ended December 31, 2016. Insurance Expense ……. $ 2,000 Service Revenue ……. 80,000 Utilities Expense ……. 500 Rent Expense ……. 11,000 Common Stock ……. 8,500 Cash ………….. 7,000 Retained Earnings, Jan. 1, 2016 …. 4,800 Salaries Expense […]

presented below are descriptions of several different business organizations determi 4372967

Presented below are descriptions of several different business organizations. Determine whether the situation described refers to a sole proprietorship, partnership, or corporation. a. Ownership of Cola Corp. is divided into 1,000 shares. b. Text Tech is owned by Kimberly Fisher, who is personally liable for the debts of the business. c. Jerry Forrentes and Susan […]

presented below are financial statement items for contanzos city a sole trader for t 4372968

Presented below are financial statement items for Contanzos City (a sole trader) for the period ended 30 June 2013. Determine which items should appear in the income statement and which items should appear in the balance sheet. a. Cash ………………………………………….. $90 000 b. Accounts receivable …………………………. 10 000 c. Service revenue ……………………………… 24 000 d. […]

presented below are the consolidated work paper balances of bush inc and its subsidi 4372969

Presented below are the consolidated work paper balances of Bush, Inc., and its subsidiary, Dorr Corporation, as of December 31, 2016 and 2015: Additional information: a. On January 20, 2016, Bush, Inc., issues 10,000 shares of its common stock for land having a fair value of $215,000. b. On February 5, 2016, Bush reissues all […]

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