ToshaCollins_Unit 3 Homework

ToshaCollins_Unit 3 Homework - Exercise 2-17 Sandcastle...

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Exercise 2-17 Sandcastle Realty, Inc. Income Statement For the Month Ending June 30, 2009 Revenue: Fees Earned 8,100 Operating Expenses: Rent Expense 10,800 Salaries Expense 16,200 Utilities Expense 13,500 Interest Expense 3,600 Miscellaneous Expense 4,500 Total Expenses 48,600 40500
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Exercise 2-18 Sandcastle Realty, Inc. Retained Earnings Statement For the Month Ending June 30, 2009 Net Income 40,500 Less Dividends 7,200 Retained Earnings, June 30, 2009 33,300
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Exercise 2-19 Sandcastle Realty, Inc. Balance Sheet June 30, 2009 Assets Cash 38,700 Land 66,600 Total Assets 105,300 Liabilities Notes Payable $54,000 Stockholder's Equity Capital Stock 18,000 Retained Earnings 33,300 Total Stockholder's equity 51,300 Total liabilities and stockholder's equity $105,300
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Exercise 2 a. b.
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ToshaCollins_Unit 3 Homework - Exercise 2-17 Sandcastle...

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