Acct HW1-7

Acct HW1-7 - Exercise: 1-2) Assets Case 1 Case 2 Case 3...

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Exercise: 1-2) Assets = Liabilities + Owners’ Equity Case 1 $125,000 $75,000 $50,000 Case 2 400,00 300,000 100,000 Case 3 415,000 320,000 95,000 1-3) 1) $250,000 2) $273,000 3) $475,000 4) $750,000 1-4) 1) $45,000 2) $30,000 3) $60,000 1-5) 1) +$35,000 2) -$1,000 3) +$25,000 1-6) Case 1 Case 2 Case 3 Case 4 Total assets, end of period $40,00 0 $36,00 0 $75,00 0 $50,000 Total liabilities, end of period 5,000 15,000 25,000 10,000 Capital stock, end of period 10,000 5,000 20,000 15,000 Retained earnings, beginning of period 15,000 8,000 10,000 20,000 Net income for the period 8,000 7,000 17,000 9,000 Dividends for the period 2,000 1,000 3,000 -4,000
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Problem: 1-5) 1) Maple Park Theaters Corp. Income Statement For Month Ended September 30, 2007 Revenues: Concessions revenue $60,300 Ticket sales 95,100 Total revenues $155,400 Expenses: Advertising expense $14,500 Cost of concessions sold 23,450 Rent expense – movies 50,600 Salaries and wages expense 46,490 Water, gas, and electricity 6,700 Total expenses
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Acct HW1-7 - Exercise: 1-2) Assets Case 1 Case 2 Case 3...

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