Question
Exercise 4-17 a1,a2-b (Video) These financial statement items are for Concord Company at year-end, July 31, 2019. Salaries and wages payable$2,300Notes payable (long-term)$1,700Salaries and wages
Exercise 4-17 a1,a2-b (Video)
These financial statement items are for Concord Company at year-end, July 31, 2019.
Salaries and wages payable$2,300Notes payable (long-term)$1,700Salaries and wages expense51,800Cash13,700Utilities expense22,900Accounts receivable10,100Equipment31,200Accumulated depreciation-equipment6,100Accounts payable4,900Dividends3,700Service revenue62,100Depreciation expense4,400Rent revenue8,700Retained Earnings (beginning of the year)21,500Common Stock30,500
an income statement for the year.(Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
ConcordCompany
Income Statement
For the Month Ended July 31, 2019
For the Year Ended July 31, 2019
July 31, 2019
Dividends
Expenses
Net Income / (Loss)
Retained Earnings, August 1, 2016
Retained Earnings, July 31, 2017
Revenues
Total Expenses
Total Revenues
$
Dividends
Expenses
Net Income / (Loss)
Retained Earnings, August 1, 2016
Retained Earnings, July 31, 2017
Revenues
Total Expenses
Total Revenues
$
Dividends
Expenses
Net Income / (Loss)
Retained Earnings, August 1, 2016
Retained Earnings, July 31, 2017
Revenues
Total Expenses
Total Revenues
Dividends
Expenses
Net Income / (Loss)
Retained Earnings, August 1, 2016
Retained Earnings, July 31, 2017
Revenues
Total Expenses
Total Revenues
Dividends
Expenses
Net Income / (Loss)
Retained Earnings, August 1, 2016
Retained Earnings, July 31, 2017
Revenues
Total Expenses
Total Revenues
$
Prepare a retained earnings statement for the year.
ConcordCompany
Retained Earnings Statement
For the Year Ended July 31, 2019
July 31, 2019
For the Month Ended July 31, 2019
Dividends
Expenses
Net Income / (Loss)
Retained Earnings, August 1, 2018
Retained Earnings, July 31, 2019
Revenues
Total Expenses
Total Revenues
$
Add
Less
:
Dividends
Expenses
Net Income / (Loss)
Retained Earnings, August 1, 2018
Retained Earnings, July 31, 2019
Revenues
Total Expenses
Total Revenues
$
Add
Less
:
Dividends
Expenses
Net Income / (Loss)
Retained Earnings, August 1, 2018
Retained Earnings, July 31, 2019
Revenues
Total Expenses
Total Revenues
Dividends
Expenses
Net Income / (Loss)
Retained Earnings, August 1, 2018
Retained Earnings, July 31, 2019
Revenues
Total Expenses
Total Revenues
$
Prepare a classified balance sheet at July 31.(List Current Assets in order of liquidity.)
ConcordCompany
Balance Sheet
July 31, 2019
For the Month Ended July 31, 2019
For the Year Ended July 31, 2019
Assets
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Stockholders' Equity
$
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Stockholders' Equity
$
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Stockholders' Equity
Add
Less
:
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Stockholders' Equity
$
Liabilities and Stockholders' Equity
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Stockholders' Equity
$
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Stockholders' Equity
$
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Stockholders' Equity
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Stockholders' Equity
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Stockholders' Equity
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Stockholders' Equity
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-term Liabilities
Total Property, Plant and Equipment
Total Stockholders' Equity
$
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Financial Accounting
Authors: Libby, Short
6th Edition
978-0073526881
