dtrinh_Week_1_HW - FixItUp Services Co. Income Statement...

Info iconThis preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
Fix-It-Up Services Co. B) The company did pretty decent for  Income Statement For The Month Ended June 30, 2007 Revenues  $8,000.00  Expenses Advertising expense  $400.00  Supplies expense  $1,000.00  Gas and oil expense  $600.00  Utilities expense  $300.00  Wage expense  $1,400.00  Total Expenses  $3,700.00  Net income  $4,300.00  Fix-It-Up Services Co. Retained Earnings Statement For The Month Ended June 30, 2007 Net income  $4,300.00  Dividends  $2,000.00  Retained Earnings, June 30, 2007  $2,300.00  Fix-It-Up Services Co. Balance Sheet June 30, 2007 Assets Cash  $4,600.00  Accounts Receivable  $4,000.00  Equipment  $2,400.00  Supplies  $32,000.00  Total Assets  $43,000.00  Liabilities Notes Payable  $14,000.00  Accounts Payable  $500.00  Total Liabilities  $14,500.00  Stockholders' Equity Common Stock  $26,200.00  Retained Earnings  $2,300.00  Total Stockholders' Equity  $28,500.00  Total Liabilities and Stockholders' Equity  $43,000.00 
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
 the first month the Assests and Liabilities and Stockholders Equity Matches.
Background image of page 2
Linus Corporation
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 4
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 6
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 10/07/2009 for the course ACCT 301 taught by Professor Cindyphan during the Spring '09 term at DeVry Sherman Oaks.

Page1 / 6

dtrinh_Week_1_HW - FixItUp Services Co. Income Statement...

This preview shows document pages 1 - 6. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online