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I need help finding the values with question marks Problem IV: Below are condensed financial statements for Harrington Inc. for the month of August. Solve
I need help finding the values with question marks
Problem IV: Below are condensed financial statements for Harrington Inc. for the month of August. Solve for all spots marked with a ". You may either write or type your answers over the question marks or en them in the chart on the next page. Harrington Indc. Income Statement For the month ended August 31, 20X1 Service revenue Expenses: 175,000 Salaries expense Rent expense Insurance expense Utilities expense Miscellaneous expense Total expenses $60,000 3,000 2,000 Net Income Harrington Inc. Statement of Stockholders' Equity For the month ended August 31, 20X1 Common Stock S 15,000 6,000 Retained Earnings S 23,000 Total Stockholders' Equity Beginning balances- Aug 1 Add: New stock issuances Add: Net income Less: Dividends Ending balances- Aug 31 S 38,000 6,000 85,000 85,000 S 21,000 S 99,000 Harrington Inc. Balance Sheet at August 31, 20X1 Liabilities Accounts Payable Salaries Payable Notes Payable Assets: Supplies Equipment Land 3,000 60,000 1,000 0.00 Total Liabilities Owners' Equity Common Stock Retained Earnings Total Stockholders' Equity $21,000 99,000 $140,000 Total Assets S Total Liabilities & Stockholders' Equity 2Step by Step Solution
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