Question

Appendix 1: Financial Statements From an End-of-Period Spreadsheet

Alert Security Services Co. offers security services to business clients.

Alert Security Services Co. End-of-Period Spreadsheet For the Year Ended October 31, 20Y3
		Adjusted Trial Balance							Income Statement			Balance Sheet
Account Title		Dr.			Cr.				Dr.	Cr.		Dr.	Cr.
Cash		223
Accounts Receivable		1,637
Supplies		74
Prepaid Insurance		56
Land		1,860
Equipment		744
Accum. Depr.-Equipment					149
Accounts Payable					670
Wages Payable					74
Common Stock					40
Retained Earnings					3,195
Dividends		149
Fees Earned					1,823
Wages Expense		446
Rent Expense		223
Insurance Expense		186
Utilities Expense		130
Supplies Expense		112
Depreciation Expense-Equip.		74
Miscellaneous Expense		37
		5,951			5,951

Prepare an income statement for Alert Security Services Co.

Alert Security Services Co.
Income Statement
For the Year Ended October 31, 20Y3
		$
Expenses:
	$
Total expenses
		$

Prepare a statement of stockholders’ equity for Alert Security Services Co. During the year ended October 31, 20Y3, common stock of $6 was issued. If an amount box does not require an entry, leave it blank. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign.

Alert Security Services Co.
Statement of Stockholders’ Equity
For the Year Ended October 31, 20Y3
	Common Stock	Retained Earnings	Total
	$	$	$
	$	$	$

Prepare a balance sheet for Alert Security Services Co.

Alert Security Services Co.
Balance Sheet
October 31, 20Y3
Assets
Current assets:
		$
Total current assets			$
Property, plant, and equipment:
		$
	$
Total property, plant, and equipment
Total assets
Liabilities
Current liabilities:
		$
Total liabilities			$
Stockholders' Equity
		$
Total stockholders' equity
Total liabilities and stockholders' equity			$

Answer 1

Alter Security service co.
Income statement
For the year ended October 31 .2013
Fees earned		1,823.00
Gross Profit		1,823.00
Operating Expenses:
Wages expenses	446.00
Rent expenses	223.00
Utilities expenses	130.00
Suppliers expenses	112.00
Insurance expenses	186.00
Depreciation expenses	74.00
Miscellaneous expenses	37.00
Total Expenses		1,208.00
Net Income		615.00
Alter Security service co.
Statement of Stockholders’ Equity
For the year ended October 31 .2013
	Common Stock	Retained earnings	Total
Beginning balance	40.00	3,195.00
Add: Net income or Loss		615.00
Less: Dividend		-149.00
	40.00	3,661.00	3,701.00
Alter Security service co.
Balance sheet
For the year ended October 31 .2013
Assets
Current Assets:
Cash	223.00
Accounts Receivable	1,637.00
Supplies	74.00
Prepaid Insurance	56.00
Total Current Assets		1,990.00
Property, plant, and equipment:
Land	1,860.00
Equipment	744.00
Accum Dep Equipment	-149.00
Total property, plant, and equipment		2,455.00
Total Assets		4,445.00
Liabilities and Stockholders' Equity
Liabilities
Current Liabilities:
Account payable	670.00
Salaries and Wages payable	74.00
Total Current Liabilities		744.00
Total Liabilities		744.00
Stockholders' Equity
Common Stock	40.00
Retained Earnings	3,661.00
Total Stockholders' Equity		3,701.00
Total Liabilities & Stockholders' Equity		4,445.00