Chapter 1 Acctp

Chapter one

s1-14

a. Dividends SRE SCF

b. Salary expenses IS

c. Inventory BS

d. Sales revenue IS

e. Retaining earnings BS

f. Net cash provided by operating activities SCF

g. Net income SCF IS SRE

h. Cash BS

i. Net cash used for financing activities SCF

j. Accounts payable BS

k. Common stock BS

l. Interest revenue IS

m. Long term debt BS SCF

n. Increase or decrease in cash BS SCF

E1-24a

Dogan Copy Center

Income statement for July 31, 2012

Service revenue $540200

Expenses

Salaries expenses $160000

Utilities expenses $10500

Rent expenses $2700

173200

Net income $367000

Dogan Copy Center

Retained earnings statement for July 31, 2012

Net income 367000

Dividends 4700

Retained earnings, July 31 362300

P1-59A

Post Oak Inc.

Income statement for year ended Dec 31, 2012

Service revenue $147000

Expenses

Salary expenses $30000

Rent expenses 11000

Interest expenses 5100

Utilities expenses 3700

property tax expenses 2100

Net Income 951000

Post Oak, Inc.

Retained earnings for the year Dec 31, 2012

Retained earnings Jan 1, 2012 114000

Net income 951000

Dividends 37000

Retained earnings, Dec 31 2012 172100

Post Oak, Inc.

Balance Sheet for year ending Dec 31, 2012

Assets

Cash $20000

Accounts recievable 30000

Supplies 2300

Equipment 36000

Building 123000

Land 9000

Total Assets 220300

Liabilities

Note payable 34000

Accounts payable 8000

Interest payable 1200

Total Liabilites 43200

Stockholder equity

Common Stock 5000

Retained Earnings 172100

Total stockholder equity 177100

Total liabilities and stock holder equity $220300

4.

a. Yes, Post Oak was profitable by $95100

b. Retained earnings increased by $58100

c. Total...