PLEASE PLEASE PLEASE PLEASE PLEASE HELP!!! it would be highly appreciated!! At t
ID: 2379649 • Letter: P
Question
PLEASE PLEASE PLEASE PLEASE PLEASE HELP!!! it would be highly appreciated!!
At the beginning of the year, assets totaled $600,000 and Stockholders' Equity totaled $200,000.?During the year, the company had $300,000 in revenues, paid $10000 in dividends, had an increase in assets of $500,000 and expenses of $200000. ?What was the ending balance for liabilities at the end of the year?
Special Deals was started on July 1, 20XX with an investment of $60,000 cash. Following are the assets and liabilities of the company on May 31, 20XX, and the revenues and expenses for the month of May, its first month of operations.
Accounts receivable
$ 9,200
Notes payable
$10,000
Service revenue
15,700
Wages expense
3,000
Utilities expense
1,500
Equipment
18,000
Accounts payable
4,400
Interest expense
700
Cash
7,100
Insurance expense
1,800
No additional common stock was issued in July, but a dividend of $1,700 in cash was paid.
Prepare an income statement for the month of July
The following are the major balance sheet classifications.
Current assets (CA)
Current liabilities (CL)
Long-term investments (LTI)
Long-term liabilities (LTL)
Property, plant, and equipment (PPE)
Stockholders' equity (SE)
Intangible assets (IA)
________ Accounts payable
________ Accounts receivable
________ Accumulated depreciation
Accounts receivable
$ 9,200
Notes payable
$10,000
Service revenue
15,700
Wages expense
3,000
Utilities expense
1,500
Equipment
18,000
Accounts payable
4,400
Interest expense
700
Cash
7,100
Insurance expense
1,800
No additional common stock was issued in July, but a dividend of $1,700 in cash was paid.
At the beginning of the year, assets totaled $600,000 and Stockholders' Equity totaled $200,000.?During the year, the company had $300,000 in revenues, paid $10000 in dividends, had an increase in assets of $500,000 and expenses of $200000. ?What was the ending balance for liabilities at the end of the year? Special Deals was started on July 1, 20XX with an investment of $60,000 cash. Following are the assets and liabilities of the company on May 31, 20XX, and the revenues and expenses for the month of May, its first month of operations.Explanation / Answer
1)the ending balance for liabilities at the end of the year = $1100000
Total Assets = Total Liabilities
Total Assets = $600000 +$500000 = $1100000
Total Liabilities = Total Equity + Total Debt = $1100000
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