Chapter 4 Assignment

Chapter 4 Assignment - Corporate Financial Accounting 9e...

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Corporate Financial Accounting 9e Chapter 4 Exercises EX-2 1 A, Asset 2 C, Revenue 3 D, Expense 4 A, Asset 5 A, Asset 6 A, Asset 7 C, Revenue 8 D, Expense 9 B, Liability 10 A, Asset 11 D, Expense 12 B, Liability EX-3 Sandy Bottom Consulting Income Statement For the Year ended August 31, 2008 Fees earned $32,000.00 Expenses: Salary expense $17,050.00 Supplies expense 1,750.00 Depreciation expense 1,200.00 Miscellaneous expense 1,850.00 Total expenses 21,850.00 Net income $10,150.00 Sandy Bottom Consulting Retained Earnings Statement For the Year ended August 31, 2008 Retained earnings, August 1, 2008 $0.00 Net income for the month $10,150.00 Less dividends 2,700.00 Increase in retained earnings 7,450.00 Retained earnings, August 31, 2008 $7,450.00
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Sandy Bottom Consulting Balance Sheet August 31, 2008 Assets Liabilities Current assets: Current liabilities: Cash $10,000.00 Accounts payable $6,100.00 Accounts receivable 12,500.00 Salaries payable 800.00 Supplies 2,200.00 Total liabilities $6,900.00
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Chapter 4 Assignment - Corporate Financial Accounting 9e...

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