Chapter 2 Homework Real

Chapter 2 Homework Real - Name Section Date Michael Samuels...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Name Michael Samuels Problem 2-3A Section 051 - 17 Date 9/25/2007 Maxim Enterprises (a) MAXIM ENTERPRISES Income Statement For the Year Ended April 30, 2007 1 Revenues 1 2 Revenues 3,600 2 3 3 4 Expenses 4 5 Depreciation Expense 335 5 6 Income Tax Expense 165 6 7 Interest Expense 400 7 8 Costs of Goods Sold 990 8 9 Selling Expense 210 9 10 Wages Expense 700 10 11 Total Expense 2,800 11 12 Net income 800 12 13 13 14 14 MAXIM ENTERPRISES Retained Earnings Statement For the Year Ended April 30, 2007 1 Retained Earnings, Beginning 1,600 1 2 Add: Net Income 800 2 3 Less: Dividends (325) 3 4 4 5 Retained Earnings, For the Year Ended April 30, 2007 2,075 5 6 6
Background image of page 1

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

View Full DocumentRight Arrow Icon
Name Michael Samuels Problem 2-3A Concluded Section 051 - 17 Date 9/25/2007 Maxim Enterprises (b) MAXIM ENTERPRISES Balance Sheet April 30, 2007 1 Assets # 2 Current Assets # 3 Cash 770 # 4 Short Term Investments 1,200 # 5 Accounts Receivable 810 # 6 Pre Paid Expense 12 # 7 Inventories 967 # 8 Total Current Assets 3,759 # 9 Property Plant and Equipment
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 10/20/2010 for the course ACCY 051 taught by Professor Irene during the Fall '09 term at GWU.

Page1 / 3

Chapter 2 Homework Real - Name Section Date Michael Samuels...

This preview shows document pages 1 - 3. Sign up to view the full document.

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