Show a statement of comprehensive income for july

Assignment Help Financial Accounting

Reference no: EM132642220

From Transactions to Financial Statements

Snow White started a laundry service, Shinny Liundry, on July 1, 2017. The following transaction occurred during the month of July.

July 2 Shareholders invested mrs60,000 cash in the business in exchange for share.

4 Purchased washing machines for NTS36,000. Snow White paid NTS5,000 signed a 60-day notes payable for the remaining balance.

5 Paid NTS6,000 for office rent for the month. 7 Purchased NTS7,000 of supplies on account.

12 Paid NTS1,000 to a local newspaper for advertising. 14 Performed NTS80,000 of service on account.

16 Received NTS30,000 cash for service provided. 18 Paid for supplies purchased on July 7.

23 Received cash payment of N'TS50.000 for service provided on account on July 14

27 Paid NTS40,000 for employee salaries. July 29 Paid NTS2,000 for utilities.

31 Declared and paid cash dividends of N-rs

Required:

Question 1: Show the effects of the previous transactions on the accounting equation using the following format. Include margin explanations for any changes in the Retained Earnings account in your analysis.

Question 2: Show a statement of comprehensive income for July.

Question 3: Show a balance sheet at July 31, 2017.

Reference no: EM132642220

Questions Cloud

How state constitution addresses the role of public official : After reviewing the Georgia State Constitution and discuss how the State Constitution addresses the role of public officials impacting public programs.

What is the overall tax rate on BAL income : Required - What is the overall tax rate on BAL's income in the first year if BAL is organized as an LLC or as a C corporation

Recent Federal Acts and Social Justice : The Patriot Act and the Homeland Security Act of the 21st Century form the foundation of the United States' domestic response to the terrorist attacks

How much cash after taxes would Sandra receive : How much cash after taxes would Sandra receive from her investment in the first year if BAL is organized as either an LLC or a C corporation

Show a statement of comprehensive income for july : Show a statement of comprehensive income for July. Purchased washing machines for NTS36,000. Snow White paid NTS5,000 signed a 60-day notes payable

Realistic understanding of context of evaluations : Evaluators need to have a realistic understanding of the context of evaluations, the political uses of evaluations, and the conditions under which information

Data collection : Discuss what data you have collected or researched to indicate there is a problem. Discuss how each data source is relevant to the problem.

What did you learn about the provider or product : Now that you've learned about the various providers and products that support the health care industry, what are some that may have surprised you?

Overall structure and functions of city system : Describe the overall structure and functions of your city's system of government to your State. How do these overlap in the system?

User Account

All Pages