STEPS - Income Statement M1 Balance Sheet M85 INSTRUCTOR...

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Student Name: INSTRUCTOR Class: Irwin/McGraw Hill Step-by-Step Problem Note: Follow the Step-by-Step instructions in the Guide to Individual Problems to work this problem. Press F5, enter a cell reference, and click on <OK> to go to one of the following data entry areas: REPORT REFERENCEPRINT AREA Income Statement M1 M5:O24 Retained Earnings M50 M54:N66 Balance Sheet M85 M89:O109
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REPORT REFERENCE Retained Earnings M50 Balance Sheet M85 INSTRUCTOR Irwin/McGraw Hill Step-by-Step Problem WILLAMETTE CONSULTING Income Statement For the Month Ended June 30, 1997 Revenues: Ticket revenue $160,000 Concession revenue 29,600 Total revenue 189,600 Expenses: Equipment rent expense $50,000 Film rent expense 53,400 Advertising expense 18,600 Salaries expense 40,000 Utilities expense 14,100 Total expense 176,100 Net Income: $13,500 REPORT REFERENCE
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Unformatted text preview: Income Statement M1 Balance Sheet M85 INSTRUCTOR Irwin/McGraw Hill Step-by-Step Problem WILLAMETTE CONSULTING Statement of Retained Earnings For the Month Ended June 30, 1997 Retained earnings, June 1 $84,900 Add: Net income for June 13,500 Total $98,400 Less: Dividends 12,000 Retained earnings, June 30 $86,400 REPORT REFERENCE Income Statement M1 Retained Earnings M50 INSTRUCTOR Irwin/McGraw Hill Step-by-Step Problem WILLAMETTE CONSULTING Balance Sheet June 30, 1997 Assets Cash $240,000 Land 48,000 Total assets $288,000 Liabilities &amp; Stockholders' Equity Liabilities Accounts payable $87,600 Stockholders' equity Capital Stock $114,000 Retained earnings 86,400 Total Stockholders' equity 200,400 Total Liabilities &amp; Stockholders' equity $288,000...
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This note was uploaded on 08/26/2011 for the course AC 499 taught by Professor Briggs during the Spring '11 term at Cornell University (Engineering School).

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STEPS - Income Statement M1 Balance Sheet M85 INSTRUCTOR...

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