STATEMENT OF CHANGES IN EQUITY (SCE)A. The capitaf, withdrawaf and income summary accounts for NUA Travel Agency are shown in T-account from below. The closing entries have been recorded for the year ended December 31,2015.NUA, CapitalDecember 31,P420,000.00Jan. 1P360,000.00Mar 9280,000.00Dec. 31430,000.00NUA, DrawingsMar 31P 90,000.00Dec 31P 420,000.00June 3070,000.00Sept3090,000.00Dec 31170,000.00Income SummaryDec 31P 850,000.00Dec. 31P 1,280,000.00Dec 31430,000.00Requirement: Prepare a statement of changes in equityB. Compute the owner's equity for Norman Gonzales on December 31, 2014 based on the followingdata:Norman Gonzales, Capital January 1, 2014Norman Gonzales, Drawings for 2014Norman Gonzales, Additional Investment 2014P 450,000.00120,000.0080,000.00Net Income 201490,000.00C. Prepare a statement of equity for Darwin Enterprises.Darwin EnterprisesDecember 31, 2016Dr.Cr.P 3,000,000.00Darwin, Capital500,000.00Darwin Additional InvestmentP 600,000.00Darwin, Drawing200,000.00Net IncomePage 17

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Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter5: Accounting For Retail Businesses

Section: Chapter Questions

Problem 5PA: Multiple-step income statement and balance sheet The following selected accounts and their current...

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Selected accounts and related amounts for Kanpur Co. for the fiscal year ended June 30, 2016, are presented in Problem 6-5B. Instructions 1. Prepare a single-step income statement in the format shown in Exhibit 11. 2. Prepare a statement of owners equity. 3. Prepare an account form of balance sheet, assuming that the current portion of the note payable is 7,000. 4. Prepare closing entries as of June 30, 2016.
Click the Chart sheet tab. The stacked bar chart shows Chens equity account balances at December 31, 2013. Match the stacked bars (AG) that best describe what will happen to the equity accounts if the following transactions and events occur in 2014. Letters may be repeated or not used. Consider each case independently. When the assignment is complete, close the file without saving it again. TICKLERS (optional) Worksheet. Suppose that the 54,000 Additional paid-in capital balance at December 31, 2011, comes from two ledger accounts: 42,000 from Paid-in capital in excess of par and 12,000 from Paid-in capital from treasury stock transactions. Revise the STOCKEQ2 worksheet to show a column for each of these accounts instead of the single column for Additional paid-in capital. Then redo the 2012 transactions using the new columns. Preview the printout to make sure that the worksheet will print neatly on one page, and then print the worksheet. Save the file as STOCKEQT. Chart. Using the STOCKEQ4 file, prepare a column chart showing the dollar amount of each of the stockholders equity account balances at December 31, 2013. Treasury stock can be shown as a negative value. Enter your name somewhere on the chart. Save the file again as STOCKEQ4. Print the chart.
The following selected accounts and their current balances appear in the ledger of Clairemont Co. for the fiscal year ended May 31, 2019: Instructions 1. Prepare a multiple-step income statement. 2. Prepare a statement of owners equity. 3. Prepare a balance sheet, assuming that the current portion of the note payable is 50,000. 4. Briefly explain how multiple-step and single-step income statements differ.
Statement of stockholders’ equity Using the financial data shown in Exercise 2-17 for Big Mountain Realty Inc., prepare a statement of stockholders’ equity for the month ending June 30. 20Y9.
Multiple-step income statement and balance sheet The following selected accounts and their current balances appear in the ledger of Clairemont Co. for the fiscal year ended May 31, 20Y2: Instructions 1. Prepare a multiple-step income statement. 2. Prepare a statement of stockholders equity. Additional common stock of 75,000 was issued during the year ended May 31, 20Y2. 3. Prepare a balance sheet, assuming that the current portion of the note payable is 50,000. 4. Briefly explain how multiple and single-step income statements differ.
Real-world annual report The financial statements for Nike, Inc. (NKE), are presented in Appendix E at the end of the text. The following additional information is available (in thousands): Instructions 1. Determine the following measures for the fiscal years ended May 31, 2017, and May 31, 2016. Round ratios and percentages to one decimal place. a. Working capital b. Current ratio c. Quick ratio d. Accounts receivable turnover e. Number of days sales in receivables f. Inventory turnover g. Number of days sales in inventory' h. Ratio of liabilities to stockholders equity i. Asset turnover j. Return on total assets, assuming interest expense is 82 million for the year ending May 31. 2017, and 33 million for the year ending May 31, 2016. k. k. Return on common stockholders equity l. Price-eamings ratio, assuming that the market price was 52.81 per share on May 31, 2017, and 54.35 per share on May 31, 2016. m. m. Percentage relationship of net income to sales 2. What conclusions can be drawn from these analyses?
Financial statement analysis The financial statements for Nike, Inc., are presented in Appendix D at the end of the text. Use the following additional information (in thousands): Instructions 1. Determine the following measures for the fiscal years ended May 31, 2016, and May 31, 2015. Round ratios and percentages to one decimal place. a. Working capital b. Current ratio c. Quick ratio d. Accounts receivable turnover e. Number of days sales in receivables f. Inventory turnover g. Number of days sales in inventory h. Ratio of liabilities to stockholders equity i. Asset turnover j. Return on total assets. k. Return on common stockholders equity l. Price-earnings ratio, assuming that the market price was 54.90 per share on May 29, 2016, and 52.81 per share on May 30, 2015 m. Percentage relationship of net income to sales 2. What conclusions can be drawn from these analyses?
REQUIRED Use the information provided below to prepare the Statement of Changes in Equity of Sunray Traders for the year ended 28 February 2023. INFORMATION EXTRACT FROM THE LEDGER OF SUNRAY TRADERS AS AT 28 FEBRUARY 2023 Debit Credit R R Capital: Sunny 600 000 Capital: Raymond 400 000 Current a/c: Sunny (01 March 2022) 100 000 Current a/c: Raymond (01 March 2022) 60 000 Drawings: Sunny 500 000 Drawings: Raymond 700 000 SUNRAY TRADERS STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 28 FEBRUARY 2023 Capital Accounts Sunny Raymond Total Balance at 28 February 2022 Changes in capital Balance at 28 February 2023 Current Accounts Sunny Raymond Total Balance at 28 February 2022 Net profit for the year Drawings Balance at 28 February 2023 WORKINGS (if any) Interest on capital Sunny Raymond Salaries Sunny Raymond
Using the following information, prepare a statement of owner's equity for the month of October for Ann's Cupcakes. A. Gordon, Capital, on October 1 $15,750 Additional investment by A. Gordon on October 20 4,250 Net loss for the month (from income statement) 700 Total withdrawals for the month 2,100 Ann's Cupcakes Statement of Owner's Equity For Month Ended October 31, 20-- $fill in the blank 94b1cefe505efe7_2 fill in the blank 94b1cefe505efe7_4 Total Investment $fill in the blank 94b1cefe505efe7_5 $fill in the blank 94b1cefe505efe7_7 fill in the blank 94b1cefe505efe7_9 fill in the blank 94b1cefe505efe7_11 $fill in the blank 94b1cefe505efe7_13
based on the following prepare an income statement and statement of changes in equity for ting information the month ended August 31, 2019, and a balance sheet at August 31, 2019. Identify the revenue earned as Fees. Record the expenses in alphabetical order. Date Assets = Liabilities + S/H Equity Description Cash Accounts Receivable Prepaid Expense Unused Supplies Truck Bank Loan Acct. Payable Unearned Revenue Comon Stock Retained Earnings Notes August 1 5000 5000 A 1 7000 7000 B 1 -6000 6000 C 4 -600 600 D 5 5000 5000 E 7 1000 1000 F 9 -200 -200 G 12 100 100 H 15 400 -400 I 16 -200…
These items are taken from the financial statements of Bonita Industries at December 31, 2017. Buildings $99,452Accounts receivable 11,844Prepaid insurance 3,008Cash 11,130Equipment 77,456Land 57,528Insurance expense 733Depreciation expense 4,982Interest expense 2,444Common stock 56,400Retained earnings (January 1, 2017) 37,600Accumulated depreciation—buildings 42,864Accounts payable 8,930Notes payable 87,984Accumulated depreciation—equipment 17,597Interest payable 3,384Service revenue 13,818 Prepare a classified balance sheet. Assume that $12,784 of the note payable will be paid in 2018. (List current assets in order of liquidity and property plant and equipment in order of land, buildings and equipment.)
Preparation of the Income Statement and the Statement of Changes in Equity The income and expense accounts of Ernesto Parducho Real Estate Agency, which are listed below, represent the activities for the month of June 2020: Advertising Expense P163,000 Commissions Expense 475,000 Office Supplies Expense 27,000 Real Estate Revenues 1,250,000 Rent Expense 48,000 Salaries Expense 264,000 Utilities Expense 42,000 Depreciation Expense 5,000 Required: Prepare an income statement for the month ended June 30, 2020. On June 1, 2020, Parducho has a P123,000 capital balance. During the month, Parducho invested an additional P16,000 in the business and withdrew P250,000. Prepare a…

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