User Account

All Pages

Prepare a stamen of retained earnings

Assignment Help Accounting Basics
Reference no: EM131803415

Question - Prepare Financial Statements

The adjusted trial balance of Cavamanlis Co. as of December 31, 2012, contains the following.

CAVAMANLIS CO. Adjusted Trial Balance December 31, 2012

Account Titles

Dr.

Cr.

Cash

$18,972

 

Accounts Receivable

6,920

 

Prepaid Rent Expense

2,280

 

Equipment

18,050

 

Accumulated Depreciation-Equipment

 

$4,895

Notes Payable

 

5,700

Accounts Payable

 

4,472

Common Stock

 

20,000

Retained Earnings

 

11,310

Dividends

3,000

 

Service Revenue

 

12,590

Salaries and Wages Expense

6,840

 

Rent Expense

2,760

 

Depreciation Expense

145

 

Interest Expense

83

 

Interest Payable

 

83

 

$59,050

$59,050

Instructions -

(a) Prepare an income statement.

(b) Prepare a stamen of retained earnings.

(c) Prepare a classified balance sheet.

Reference no: EM131803415

Questions Cloud

Describe the current state of the industry : Describe the current state of the industry within which Netflix operates and identify any opportunities or threats facing industry players.
What is the overall value effect : The bad debt expense rate on both existing and incremental (lost) sales is estimated to be 7 percent. The DSO of 56 days is not expected.
Review the business letter given below : Please review the business letter below and find at least four ways that it can be improved, providing specific examples and reasons for them.
Standard deviation of a portfolio of two stocks : What is the standard deviation of a portfolio of two stocks given the following data? Stock A has a standard deviation of 22%.
Prepare a stamen of retained earnings : The adjusted trial balance of Cavamanlis Co. as of December 31, 2012, Prepare a stamen of retained earnings
Analyze the net profit margin and gross profit margin : Calculate and analyze the Net Profit Margin, Gross Profit Margin and Equity Multiplier for your selected company for the last two years from the SEC Form 10-K:
Identify the issues that defined the leaders effectiveness : Analyze, discuss, and present the report/project which is a high level evaluation of leadership traits that compares and contrasts the selected leaders.
Describe the effect on chs companys financial statements : Which of the following does not correctly describe the effect on CHS Company's financial statements of the December 31, 2016 adjusting entry
Prepare a correct trial balance : Cash received from a customer on account was debited for $370, and Accounts Receivable was credited for the same amount. Prepare a correct trial balance

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd