Question

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 rent	3,000		Stockholders’ Equity
Equipment	450,000		Common stock		?
Building	566,800		Retained earnings		?
			Total stockholders’ equity		#39
Total assets	#38		Total L and SE		#40

33. $____________Revenue:                                           37. $__________Supplies:                               

34. $____________Net Income:                                      38. $__________Total Assets:                        

35. $____________Issuance:                                           39. $__________Stockholders’ Equity:         

36. $____________Dividends:                                         40. $__________Total L & SE:        

Answer 1

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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