Unit 3 Homework Template-1

Unit 3 Homework - Retained Earnings Statement For the Month Ending Net income $260,000 Less dividends 10,000 Retained earnings $250,000

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Exercise 2-17 Name: Section: Score: 0% Answers are entered in the cells with gray backgrounds. Cells with non-gray backgrounds are protected and cannot be edited. A red asterisk (*) will appear in the column to the right of an incorrect answer. POLARIS REALTY, INC. Income Statement For the Month Ended November 30, 2011 Revenues: Net income $260,000 Expenses: Interest expense $2,000 Utilities expense 15,000 Miscellaneous expense 3,000 Rent expense 5,000 Salaries expense 65,000 Total expenses 90,000 Net income $170,000 Instructions
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Exercise 2-18 Name: Section: Score: 0% Answers are entered in the cells with gray backgrounds. Cells with non-gray backgrounds are protected and cannot be edited. A red asterisk (*) will appear in the column to the right of an incorrect answer. POLARIS REALTY, INC.
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Unformatted text preview: Retained Earnings Statement For the Month Ending November 30, 2011 Net income $260,000 Less dividends 10,000 Retained earnings, November 30, 2011 $250,000 Instructions Exercise 2-19 Name: Section: Score: 38% Answers are entered in the cells with gray backgrounds. Cells with non-gray backgrounds are protected and cannot be edited. A red asterisk (*) will appear in the column to the right of an incorrect answer. POLARIS REALTY INC. Balance Sheet November 30, 2011 Assets Cash $38,000 Land 42,000 Total assets $80,000 Liabilities Notes payable $35,000 Stockholders' Equity Capital stock $25,000 Retained earnings 0 25,000 Total liabilities and stockholders' equity $60,000 Instructions Exercise 2 a. b. c. d. e. f. g. h. i. j. k. l.-21...
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This note was uploaded on 06/14/2011 for the course AC 113 AC113 taught by Professor Cochran during the Spring '10 term at Kaplan University.

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Unit 3 Homework - Retained Earnings Statement For the Month Ending Net income $260,000 Less dividends 10,000 Retained earnings $250,000

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