05-1B_9e - Retained earnings, capital, June 30, 2008 3....

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Problem 5-1B Name: Section: Enter the appropriate amount or label in the shaded cells. An asterisk (*) will appear next to an incorrect amount in the outlined cells. 1. HOBBS' CO. Income Statement Revenues from sales: Less: Net sales Cost of merchandise sold Gross profit Expenses: Selling expenses: Total selling expenses Administrative expenses: Total administrative expenses Total expenses Income from operations Other expense: Net income
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2. HOBBS' CO. Statement of Retained Earnings Retained earnings, July 1, 2007
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Unformatted text preview: Retained earnings, capital, June 30, 2008 3. HOBBS' CO. Balance Sheet Assets Current assets: Total current assets: Property, plant and equipment: Office equipment Store equipment Total property, plant and equipment Total assets Liabilities Current liabilities: Total current liabilities: Long-term liabilities: Total liabilities Owner's Equity Capital stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 4. a. b....
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05-1B_9e - Retained earnings, capital, June 30, 2008 3....

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