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National University College., Rio Grandes Campus Business Adminstration and Technology Department Problem 2 Dreamaker Designs is an architectural firm. Followings are the amounts of the assets and liabilties of Dreamaker Designs at March 31,2019, the end of the current year, and its revenue and expenses for the year ended on that date. The capital of Cindy López, owner, was $99,990 on April 1, 2018, the beginning of the current year. During the current year, the owner withdrew $35,000.00 $ 20,000 39,750 20,000 Accounts Payable Accounts Receivable Advertising Expense Cash 24,515 527,500 150,000 6,125 98,000 4,250 9,750 23,500 35,750 212,000 3,150 Fees Earned Land Miscellaneous Expense Rent Expense Supplies Supplies Expense Taxes Expense Utilities Expense Wages Expense Wages Payable Instructions: 1 Prepare an income statement for the current year ended March 31, 2019. 2 Prepare a statement of owner's equity fo the current year ended March 31, 2019. 3 Prepare a balance sheet as of March 31, 2019. Dreamdesign Income Statement For the Month Ended March 31, 2019 DreamDesign Statement of Owner's Equity For the Month Ended March 31, 2019 Dreamdesign Balance Sheet March 31, 2019 Assets Total Asset Labilities Owner's Equity Total liabities and Owner's Equity

National University College., Rio Grandes Campus Business Adminstration and Technology Department Problem 2 Dreamaker Designs is an architectural firm. Followings are the amounts of the assets and liabilties of Dreamaker Designs at March 31,2019, the end of the current year, and its revenue and expenses for the year ended on that date. The capital of Cindy López, owner, was $99,990 on April 1, 2018, the beginning of the current year. During the current year, the owner withdrew $35,000.00 $ 20,000 39,750 20,000 Accounts Payable Accounts Receivable Advertising Expense Cash 24,515 527,500 150,000 6,125 98,000 4,250 9,750 23,500 35,750 212,000 3,150 Fees Earned Land Miscellaneous Expense Rent Expense Supplies Supplies Expense Taxes Expense Utilities Expense Wages Expense Wages Payable Instructions: 1 Prepare an income statement for the current year ended March 31, 2019. 2 Prepare a statement of owner's equity fo the current year ended March 31, 2019. 3 Prepare a balance sheet as of March 31, 2019. Dreamdesign Income Statement For the Month Ended March 31, 2019 DreamDesign Statement of Owner's Equity For the Month Ended March 31, 2019 Dreamdesign Balance Sheet March 31, 2019 Assets Total Asset Labilities Owner's Equity Total liabities and Owner's Equity

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter12: Intangibles
Section: Chapter Questions
Problem 13E
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National University College., Rio Grandes Campus Business Adminstration and Technology Department Problem 2 Dreamaker Designs is an architectural firm. Followings are the amounts of the assets and liabilties of Dreamaker Designs at March 31,2019, the end of the current year, and its revenue and expenses for the year ended on that date. The capital of Cindy López, owner, was $99,990 on April 1, 2018, the beginning of the current year. During the current year, the owner withdrew $35,000.00 $ 20,000 39,750 20,000 Accounts Payable Accounts Receivable Advertising Expense Cash 24,515 527,500 150,000 6,125 98,000 4,250 9,750 23,500 35,750 212,000 3,150 Fees Earned Land Miscellaneous Expense Rent Expense Supplies Supplies Expense Taxes Expense Utilities Expense Wages Expense Wages Payable Instructions: 1 Prepare an income statement for the current year ended March 31, 2019. 2 Prepare a statement of owner's equity fo the current year ended March 31, 2019. 3 Prepare a balance sheet as of March 31, 2019. Dreamdesign Income Statement For the Month Ended March 31, 2019
Transcribed Image Text:National University College., Rio Grandes Campus Business Adminstration and Technology Department Problem 2 Dreamaker Designs is an architectural firm. Followings are the amounts of the assets and liabilties of Dreamaker Designs at March 31,2019, the end of the current year, and its revenue and expenses for the year ended on that date. The capital of Cindy López, owner, was $99,990 on April 1, 2018, the beginning of the current year. During the current year, the owner withdrew $35,000.00 $ 20,000 39,750 20,000 Accounts Payable Accounts Receivable Advertising Expense Cash 24,515 527,500 150,000 6,125 98,000 4,250 9,750 23,500 35,750 212,000 3,150 Fees Earned Land Miscellaneous Expense Rent Expense Supplies Supplies Expense Taxes Expense Utilities Expense Wages Expense Wages Payable Instructions: 1 Prepare an income statement for the current year ended March 31, 2019. 2 Prepare a statement of owner's equity fo the current year ended March 31, 2019. 3 Prepare a balance sheet as of March 31, 2019. Dreamdesign Income Statement For the Month Ended March 31, 2019
DreamDesign Statement of Owner's Equity For the Month Ended March 31, 2019 Dreamdesign Balance Sheet March 31, 2019 Assets Total Asset Labilities Owner's Equity Total liabities and Owner's Equity
Transcribed Image Text:DreamDesign Statement of Owner's Equity For the Month Ended March 31, 2019 Dreamdesign Balance Sheet March 31, 2019 Assets Total Asset Labilities Owner's Equity Total liabities and Owner's Equity
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