E2-17-20

E2-17-20 - $51,300 Total lilabilites and stockholders'...

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SANDCASTLE REALTY INC. Income Sheet For the Month Ended June 30, 2009 Revenues Sales comissions 89,100 Operating Expenses Salaries expense 16,200 Utilities expense 13,500 Rent expense 10,800 Miscellaneous expense 4,500 Interest expense 3,600 Total expense 48,600 Net Income 40,500
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SANDCASTLE REALTY INC. Retained Earnings Statement For the Month Ended June 30, 2009 Retained earings for June Net income $40,500 Less Dividends $7,200 Retained earings, November 30, 2008 $33,300
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SANDCASTLE REALTY INC. Balance Sheet June 30, 2009 Assets Cash $38,700 Land $66,600 Total assets $105,300 Liabilites Notes payable $54,000 Stockholders' equity Capital stock $18,000 Retained earnings $33,300 Total stockholders' equity
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Unformatted text preview: $51,300 Total lilabilites and stockholders' equity $105,300 SANDCASTLE REALTY INC. Statement of Cash Flows For the Month Ended June 30, 2009 Cash flow from operating activies: Cash received from customers $89,100 Deduct cash payments for expenses and payments to creditors 48,600 Net cash flows from operating activites $40,500 Cash flows from investing activies: Cash payments for acquistion of land 66,600 Cash flows from financing activites: Cash received from issuing capital stock $18,000 Deduct dividends 7,200 Net cash flows from financing activites 25,200 Net cash flow and April 30, 2009 cash balance ($900)...
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E2-17-20 - $51,300 Total lilabilites and stockholders'...

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