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can you help me with the Journal entry, T account , Balance sheet , Income Stayement , Owner equity , Earning per share. i just
can you help me with the Journal entry, T account , Balance sheet , Income Stayement , Owner equity , Earning per share.
i just need help with the T account, journal entry , balance sheet, income statement, earning per share
January 1, 2020...We formed a corporation, Hot Dogs, Inc., and you and everyo Hot Dogs, Inc., and you and everyone in the class invested $100 each in our venture. Everyone got one share of stock for that investment. Assume there are 90 of us. We elected a Board of Directors, a COO and we start to do business. First we borrowed $10.000 from the bank and bought a new cart for that amount. The loan carries an 8% interest rate. During the year we bought 13,000 dogs and 15,000 buns. Dogs cost. 15 and buns are .05 each. For our first year, we sold 14,000 dogs for $2 each. We paid our worker $7.200, paid office expenses of $3,600 and $800 for interest. On September 30 we sold 20 more shares for $300 each. At the end of the year we owed our worker $100. The tax rate is 30% and we will pay our taxes next year. How did we do? Are we rich yet? Was it a good investment Step by Step Solution
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