Question

The following account balances were taken from the adjusted trial balance for Shanghai Messenger Service, a...

The following account balances were taken from the adjusted trial balance for Shanghai Messenger Service, a delivery service firm, for the current fiscal year ended September 30, 2014:

Ex 4-5 Statement of comprehensive income The following account balances were taken from the adjusted trial balance for Shanghai Messenger Service, a delivery service firm, for the current fiscal year ended September 30, 2014:

Depreciation Expense $7,250- Fees Earned $ 440,000

Insurance Expense 1,200

Miscellaneous Expense$ 7,100

Rent Expense $36,000

Salaries Expense 265,150

Supplies Expense 2,200

Utilities Expense $ 28,500

Prepare a statement of comprehensive income

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1
Shanghai Messenger Service
Statement of Comprehensive Income
For the Year Ended September 30, 2014
Revenues
Fees Earned $ 440,000
Less: Operating Expeneses
Depreciation expense $      7,250
Insurance expense $      1,200
Misc. expense $      7,100
Rent expense $    36,000
Salaries expense $ 265,150
Supplies expense $      2,200
Utilities expense $    28,500
Total Operating expense $ 347,400
Comperehensive Income $ 787,400

You can reach me over comment box if you have any doubts. Please rate this answer

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The following account titles and balances were taken from the adjusted trial balance of King Co....
The following account titles and balances were taken from the adjusted trial balance of King Co. for 2016. The company uses the periodic inventory system.   Account Title Balance   Sales returns and allowances $ 11,500   Miscellaneous expense 6,100   Transportation-out 19,100   Sales 21,200   Advertising expense 910   Salaries expense 161,000   Transportation-in 3,250   Purchases 20,750   Interest expense 58,500   Merchandise inventory, January 1 331,000   Rent expense 9,100   Merchandise inventory, December 31 6,750   Purchase returns and allowances 11,350   Loss on sale of land 5,100   Utilities expense...
Prepare an adjusted trial balance from the following adjusted account balances (assume accounts have normal balances)....
Prepare an adjusted trial balance from the following adjusted account balances (assume accounts have normal balances). Please help, I'm so lost. Accounts payable - $6600 Accounts receivable - $12750 Admin expense - $49150 Cash - $28900 Common stock - $15000 Prepaid insurance - $8800 Service revenue - $78000
Selected account balances from a retail firm’s adjusted trial balance at the end of the first...
Selected account balances from a retail firm’s adjusted trial balance at the end of the first quarter of operations for the current fiscal year include the following: Based solely on the account information provided, what was the gross profit ratio for the quarter? a. 59.0% b. 3.1% c. 41.0% d. 4.4% Sales……………………………………………………$32,000,000 Executive & administrative salary expense…………… $4,200,000 Sales salary expense…………………………………… $1,400,000 Sales commissions……………………………………...  $1,800,000 Cost of goods sold…………………………………….. $18,880,000 Advertising expense…………………………………….  $1,500,000 Utility expense…………………………………………..    $190,000 Depreciation expense……………………………………    $210,000 Rent expense……………………………………………. $2,100,000 Insurance expense……………………………………….    $320,000...
Panamerican Foods reported the following account balances on the company’s adjusted trial balance. Accounts Payable $...
Panamerican Foods reported the following account balances on the company’s adjusted trial balance. Accounts Payable $ 6,000 Accounts Receivable 25,000 Inventory 22,800 Advertising Expense 19,000 Cost of Goods Sold 145,000 Delivery Expense 7,400 Income Tax Expense 2,000 Insurance Expense 1,000 Rent Expense 17,600 Sales Revenue 300,000 Sales Discounts 9,600 Sales Returns & Allowances 40,000 Net income would be: $100,000. $105,400. $98,000. $134,200. None of the other answers are correct.
Using these account names (watch your spelling), prepare an adjusted trial balance from the adjusted account...
Using these account names (watch your spelling), prepare an adjusted trial balance from the adjusted account balances; solve for the one missing account balance: Cash (assume all accounts have normal balances): Account Name Normal Balance Accounts Payable $19,000 Accounts Receivable $23,760 Cash ?? Common Stock $38,000 Dividends $9,000 Equipment $20,000 Prepaid Insurance $21,466 Land $45,000 Notes Payable $61,000 Retained Earnings $18,815 Insurance Expense $19,689 Service Revenue $90,550 Supplies $5,250 Salaries Expense $51,000
Victoria Lee Company had the following adjusted trial balance. Victoria Lee Company Adjusted Trial Balance For...
Victoria Lee Company had the following adjusted trial balance. Victoria Lee Company Adjusted Trial Balance For the Month Ended June 30, 2020 Adjusted Trial Balance Account Titles Debit Credit Cash $3,712 Accounts Receivable 3,904 Supplies 480 Accounts Payable $1,382 Unearned Service Revenue 160 Owner’s Capital 5,760 Owner’s Drawings 550 Service Revenue 4,300 Salaries and Wages Expense 1,260 Miscellaneous Expense 256 Supplies Expense 1,900 Salaries and Wages Payable 460 $12,062 $12,062 Prepare closing entries at June 30,2020 Prepare a post- closing...
The following is the Easton Company's adjusted Trial Balance . Easton Company Adjusted Trial Balance December...
The following is the Easton Company's adjusted Trial Balance . Easton Company Adjusted Trial Balance December 31, 2018 Account Title Debit Credit Cash $88,665 Accounts Receivable 232,000 Supplies 17,000 Equipment 395,000 Accumulated Depreciation $224,260 Accounts Payable 72,555 Capital Stock 220,000 Retained Earnings 127,145 Service Revenue 877,105 Interest Income 5,500 Dividends 7,000 Rent Expense 59,900 Wages Expense 529,000 Supplies Expense 40,000 Utilities Expense 8,000 Depreciation Expense 150,000 ________ Totals $1,526,565 $1,526,565 Use this information to prepare the Balance Sheet for the...
The following is the Frederick Company's adjusted Trial Balance. Frederick Company Adjusted Trial Balance December 31,...
The following is the Frederick Company's adjusted Trial Balance. Frederick Company Adjusted Trial Balance December 31, 2018 Account Title Debit Credit Cash $85,150 Accounts Receivable 229,140 Supplies 16,955 Equipment 395,285 Accumulated Depreciation $221,260 Accounts Payable 74,235 Capital Stock 220,000 Retained Earnings 101,145 Service Revenue 893,105 Interest Income 1,500 Dividends 2,000 Rent Expense 58,500 Wages Expense 527,260 Supplies Expense 42,520 Utilities Expense 8,595 Depreciation Expense 145,840 ________      Totals $1,522,565 $1,522,565 Use this information to prepare the Balance Sheet for the fiscal...
The following is the Easton Company's adjusted Trial Balance. Easton Company Adjusted Trial Balance December 31,...
The following is the Easton Company's adjusted Trial Balance. Easton Company Adjusted Trial Balance December 31, 2018 Account Title Debit Credit Cash $88,665 Accounts Receivable 232,000 Supplies 17,000 Equipment 395,000 Accumulated Depreciation $224,260 Accounts Payable 72,555 Capital Stock 220,000 Retained Earnings 127,145 Service Revenue 877,105 Interest Income 5,500 Dividends 7,000 Rent Expense 59,900 Wages Expense 529,000 Supplies Expense 40,000 Utilities Expense 8,000 Depreciation Expense 150,000 ________      Totals $1,526,565 $1,526,565 Use this information to prepare the Balance Sheet for the fiscal...
The following is the Easton Company's adjusted Trial Balance. Easton Company Adjusted Trial Balance December 31,...
The following is the Easton Company's adjusted Trial Balance. Easton Company Adjusted Trial Balance December 31, 2018 Account Title Debit Credit Cash $88,665 Accounts Receivable 232,000 Supplies 17,000 Equipment 395,000 Accumulated Depreciation $224,260 Accounts Payable 72,555 Capital Stock 220,000 Retained Earnings 127,145 Service Revenue 877,105 Interest Income 5,500 Dividends 7,000 Rent Expense 59,900 Wages Expense 529,000 Supplies Expense 40,000 Utilities Expense 8,000 Depreciation Expense 150,000 ________      Totals $1,526,565 $1,526,565 Use this information to prepare the Balance Sheet for the fiscal...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT