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Create a classified balance sheet for Dewey as of January 31 2016 an income statement and statements of shareholders equity? Dewey, Cheatum & Howe Transactions
Create a classified balance sheet for Dewey as of January 31 2016 an income statement and statements of shareholders equity?
Dewey, Cheatum & Howe Transactions For the month anding January 31, 2018 Date 1/1/2017 Paid 12 maiths of rent at $6228 per month 1/2/2017 Dewey reinlturses ts key employees far morghly cell phone charges in the amuent of $1,020 1/3/2017 The compary remburses its employees moeinly for the costs they incur ta 1/4/2017 The compaty invoiced its clients a total of $15,000 Cash c king key clients and prospective dlienits out to eat, to sparting events etc. lanuary's reimbursements otaled $21,30o. /S/2017 The compahy drew down $198,311 its Ine of sredit in order to meet its monthly obligatons /6/2017 Dewey made a donation to the local inle leagule in the amount of $1,195 -47/2017 The compaty c 1//2017 Dewey pays a monthly retainer for legal sgrvices in the amount of $2.470 ollected cash payments on its accounts receivable in the amoun of $245,000 e 17 The compahy reimbursed its employees $8.854 for travel expenses incutred 1/1/2017 The comipany paid its bi- weekly payroll of $90,000 1/16/2017 Paid its shortbterm monthly car lease payment of $1,400 1/17/2017 The company did not renew its lease on its storage unit which ended on 12/s1rap16 and its deposit of $1.02 was rneturned company renewed their annual merbership in the American Institute of CPAs for $349 but the bill won't came until February 1/19/2017 The company paid dividends to its only sharstyelder in the amount of $31,50o 1/20/2017 Dewey announces $183,000 profit sharing bnus to be spit among all employees will be paid in February 201 1/23/2017 Dewey's required peer-review was 1/24/2017 The compainy took a continuing education class costing $300 but didn't recelve the bill yet 1/25/2017 Dewey repaid principal on a loan payable to a shareholider in the amount of $12,805s 1/26/2017 Dewey daid for miscellaneous office supplies furchased on 1/19/17. The lwoite is $2,500 2/10 net 30 1/27/2017 The company paid its bi-weekly payroll of $40,000 1/30/2017 The e completed by a lecal CPA firm who billid them $7,820 for services praviged. The firm plans to pay the bill on its due date of February 15, 2017 7 company collected cash payments on its etcounts receivable in the amcue of $ 203,530 1/30/2017 The company paid $227,985 in accounts payable 1/30/2017 Dewey recelved a bill for $80,000 for subcaptrector services but hasn't paid the bill yet 1/30/2017 The company invaiced its clients a total of $171,90 1/31/2017 While reconing their bank statement they dhw that they were charged 539 in bank fees on their checking acdun 1/31/2017 Dewey prepared all required adjusting enpries 1/31/2017 Dewey receises $1.000 in office supplies an actount Other information Dewey developed its own software which it amortines over 3 years Dewey purchused computer equipment for $15,000 in 2014 which has a usef'll Ife of S years. The company uses the straight-line method of depreclation Dewey Incurs 6% per annurm interest on the monthly endng balance of its Line of Credit. Assigement Create a classified balance sheet for Dewoy as of January 31, 2016 Create an Income statement for Dewey for the period ending January 31, 2016 Create a Seatement of Shareholders' equity for the period ending january 31, 2016 Round all ambunts to the nearest dollar Step by Step Solution
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