ButovaS_P4-3B

ButovaS_P4-3B - Name Section Date (a) Svetlana Butova...

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229 Name Svetlana Butova Problem 4-3B Section Date 6/16/2008 Molinda Company (a) Molinda Company Income Statement For the Year Ended December 31, 2008 1 Revenues 1 2 Service Revenue $69,000 2 3 3 4 Expenses 4 5 Salaries Expense $37,000 5 6 Depreciation Expence 2,600 6 7 Insuranse Expence 2,200 7 8 Repair Expense 2,000 8 9 Utilities Expense 1,700 9 10 10 11 Total Expenses 45,500 11 12 12 13 Net Income $23,500 13 14 14 15 15 Molinda Company Owner's Equity Statement For the Year Ended December 31, 2008 1 Ann Molinda, Capital, January 1 $36,000 1 2 Add: Net Income 23,500 2 3 59,500 3 4 4 5 Less: Drawings 14,000 5 6 Ann Molinda, Capital, December 31 $45,500 6 7 7 8 8 9 9 10 10
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229
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230 Name Svetlana Butova Problem 4-3B Continued Section Date 6/16/2008 Molinda Company (a) (Continued) Molinda Company Balance Sheet December 31, 2008 1 Assets 1 2 Current Assets 2 3 Cash $22,400 3 4 Account Receivable 13,500 4 5 Prepaid Insurance 3,500 5 6 Total current assets $39,400 6 7 Property, plant and equpment
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This note was uploaded on 03/11/2011 for the course ACC 101 taught by Professor Corolinsky during the Spring '11 term at SUNY Albany.

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ButovaS_P4-3B - Name Section Date (a) Svetlana Butova...

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