|
Share Thread: Facebook Twitter Google+ |
|
LinkBack | Thread Tools | Search this Thread |
#1
|
|||
|
|||
Solution Q 2.(a,b,c) A&A Paper 1,2016
Global Service Company
INCOME STATEMENT For The Quarter ended June 30 Revenues $ $ Service Revenue 11360 Rent revenue 900 Total revenues 12260 Expenses Supplies Expense 160 Depreciation expenses 700 Utiities expenses 350 Interest expense 40 Salaries & Wages expense 7400 Rent Expense 1200 Total expenses (9850) Net income 2410 (a) Global Service Company Statement of Retained Earnings For the quarter ended June 30 Retained earnings at Quarter ended March,31 _ Net income for the year quarter ended june 30 2410 Dividends paid to shareholders (500) Retained earnings at june 30 1910 (b) Global Service Company Balance sheet Quarter ended June, 30 $ $ Current assets Cash 5190 Accounts receivable 480 Prepaid expenses 720 Total current assets 6390 Property, plant, and equipment Land—at cost 12000 Less: Accumulated depreciation (700) Supplies 920 Total property, plant, and equipment 12220 Total Assets 18160 Liabilities and Stockholders’ Equity Current liabilities Accounts payable 790 Accrued interest 10 Accrued salaries, wages 300 Unearned revenue 400 Total Current Liabilities 1500 Long term Debt Notes Payable 4000 Total current liabilities Long-term debt 5500 Total Stockholders’ equity Share Capital ordinary 11200 Retained Earnings 1910 Total stockholders’ equity 13100 Total liabilities and stockholders’ equity 18160 (c) Kind Regards (aly.syyed@gmail.com) |
Thread Tools | Search this Thread |
|
|
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
Some things to be careful about while going to sit in css exam | CommittedSoul | Frequently Asked Questions | 0 | Wednesday, February 17, 2016 08:05 PM |
Plagiarism Detected in CSS Paper | Sohail Mushtaq Ahmed | Dawn | 0 | Saturday, March 22, 2014 11:59 AM |
Essays on Essay Writing | atifch | Essay | 6 | Friday, December 22, 2006 11:24 PM |
Albert Einstein | ahsanghalib | General Knowledge, Quizzes, IQ Tests | 0 | Saturday, December 16, 2006 06:58 PM |