Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Now I want to make a Accounting Cycle Step 7 Prepare Financial Statements depend on data on first picture ... And the solution method is
Now I want to make a Accounting Cycle Step 7 Prepare Financial Statements depend on data on first picture ... And the solution method is like the second picture !
note: if the first picture is not clear you find it on my previous question !
i split the one picture to 3 for quality
A- kecer Trata Cash Share Capital. Die Hallardan TD 1 2 00 . $ -100 . 7:2 XI . 9 10 11 -1000 -LOG Sum of Total A 4.005 Sum of Tour 2355 4,700 SOFTBYTE SA Income Statement For the Month Ended September 30, 2017 Revenues Service revenue Expenses Salaries and wages expense 900 Rent expense 600 Advertising expense 250 Utilities expense 200 Total expenses Net income SOFTBYTE SA Retained Earnings Statement For the Month Ended September 30, 2017 Retained earnings, September 1 Add: Net income Less: Dividends Retained earnings, September 30 1,950 2,750 0 2,750 2.750 1,300 1,450 1-54 illustration 1-11 Financial statements and their interrelationships LO 8 SOFTBYTE SA Retained Earnings Statement For the Month Ended September 30, 2017 Retained carnings, September 1 Add: Net income 2,750 2.750 Less: Dividends 1,300 Retained carnings, September 30 1.450 SOFTBYTE SA Statement of Financial Position September 30, 2017 Assets Equipment 7,000 Supplies 1.600 Accounts receivable 1,400 Cash 8,050 Total assets 18,050 Equity and Liabilities Equity Share capital-ordinary 15,000 Retained earnings 1,450 16,450 Liabilities Accounts payable 1,600 Total equity and liabilities 18,050 1-55 LO 8 llustration 1.11 Payable + Share Capital - Drawings Retained Earnings Revenue - Expenses - Dividend 4,000 800 -600 -1,000 -200 -150 225 2,000 -1,000 -20 2,000 4,000 -1,000 1,025 -1,970 4,555 Payable + Share Capital - Drawings Retained Earnings Revenue - Expenses - Dividend 4,000 800 -600 -1,000 -200 -150 225 2,000 -1,000 -20 2,000 4,000 -1,000 1,025 -1,970 4,555 Payable + Share Capital - Drawings Retained Earnings Revenue - Expenses - Dividend 4,000 800 -600 -1,000 -200 -150 225 2,000 -1,000 -20 2,000 4,000 -1,000 1,025 -1,970 4,555 A- kecer Trata Cash Share Capital. Die Hallardan TD 1 2 00 . $ -100 . 7:2 XI . 9 10 11 -1000 -LOG Sum of Total A 4.005 Sum of Tour 2355 4,700 SOFTBYTE SA Income Statement For the Month Ended September 30, 2017 Revenues Service revenue Expenses Salaries and wages expense 900 Rent expense 600 Advertising expense 250 Utilities expense 200 Total expenses Net income SOFTBYTE SA Retained Earnings Statement For the Month Ended September 30, 2017 Retained earnings, September 1 Add: Net income Less: Dividends Retained earnings, September 30 1,950 2,750 0 2,750 2.750 1,300 1,450 1-54 illustration 1-11 Financial statements and their interrelationships LO 8 SOFTBYTE SA Retained Earnings Statement For the Month Ended September 30, 2017 Retained carnings, September 1 Add: Net income 2,750 2.750 Less: Dividends 1,300 Retained carnings, September 30 1.450 SOFTBYTE SA Statement of Financial Position September 30, 2017 Assets Equipment 7,000 Supplies 1.600 Accounts receivable 1,400 Cash 8,050 Total assets 18,050 Equity and Liabilities Equity Share capital-ordinary 15,000 Retained earnings 1,450 16,450 Liabilities Accounts payable 1,600 Total equity and liabilities 18,050 1-55 LO 8 llustration 1.11 Payable + Share Capital - Drawings Retained Earnings Revenue - Expenses - Dividend 4,000 800 -600 -1,000 -200 -150 225 2,000 -1,000 -20 2,000 4,000 -1,000 1,025 -1,970 4,555 Payable + Share Capital - Drawings Retained Earnings Revenue - Expenses - Dividend 4,000 800 -600 -1,000 -200 -150 225 2,000 -1,000 -20 2,000 4,000 -1,000 1,025 -1,970 4,555 Payable + Share Capital - Drawings Retained Earnings Revenue - Expenses - Dividend 4,000 800 -600 -1,000 -200 -150 225 2,000 -1,000 -20 2,000 4,000 -1,000 1,025 -1,970 4,555 Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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