Ron_W1DQ1 - Revenue Service revenue $32 billion Expenses...

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Ron_W1DQ1 E1-21 Assets Liabilities Transactions Cash + Accounts Receivable + Office Supplies+ Land Account Payable+ Owner’s Equity Type of Equity Transaction 1. +10,000 +10,000 Owner investment Bal. 10,000 10,000 2. +1,200 +1,200 Service revenue Bal. 11,200 11,200 3. +600 +600 Bal. 11,200 600 600 11,200 4. +300 +300 Service revenue Bal. 11,200 300 600 600 11,500 5. -250 -250 Bal. 10,950 300 600 350 11,500 6. +12,000 -12,000 Bal. 22,950 300 600 -12,000 350 11,500 7. +600 +600 Bal. 23,550 300 600 -12,000 350 12,100 8. -800 -800 Rent expense Bal. 22,750 300 600 -12,000 350 11,300 9. -100 -100 Bal. 22,650 300 600 -12,000 350 11,200 Bal. 11,550 11,550
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Ron_W1DQ1 E1-26 UPS Income Statement Year Ended December 31, 2003 Revenue: Service revenue $30 billion Expenses: $17 billion Net income $13 billion UPS Income Statement Year Ended December 31, 2004
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Unformatted text preview: Revenue: Service revenue $32 billion Expenses: $29 billion Net income $3 billion Ron_W1DQ1 E1-26 Year Assets Liabilities Owners Equity 2003 $30 billion $17 billion $13 billion 2004 $33 billion $17 billion $16 billion 1) The net income for UPS in 2004 is $3 billion. 2) The UPS owners’ equity increase by $3 billion in 2004 due to the increase in the owners’ equity. 3) I would rate the UPS’s performance for 2004 good they increased their assets by $3 billion. UPS had an increase in the equity due to the increase assets, and the liabilities stayed the same as they did the year before....
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Ron_W1DQ1 - Revenue Service revenue $32 billion Expenses...

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