Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

pom Consider the journal entries below General Journal ACCOUVExplanation 311MI Supplies Expense . Suppes, 1 month med 31M Cash Share Capital New Shares issued The

image text in transcribed
image text in transcribed
pom Consider the journal entries below General Journal ACCOUVExplanation 311MI Supplies Expense . Suppes, 1 month med 31M Cash Share Capital New Shares issued The financial statements on the left were prepared without taking these transactions into account. Modify the copies on thenght to show how these transactions would affect the financiar statements Barion Corporation Barton Corporation Income Statement Income Statement For Morth Ended July 31, 2014 For More Ended My 31, 2014 Revenues 5,140 Revenues Expenses Net Income 5.140 1,379 3.701 Net Income Barton Corporation Statement of Changes in Equity For Month Ended July 31, 2014 Share Retained Total Capital Earnings Equity Balance, July 1 Issuance of shares 4,000 4,900 3,701 3,761 Dividends (1.542) (1.642) Balance, July 31 4.800 2.119 7,019 Barton Corporation Statement of Changes in Equity For Morth Ended July 31, 2014 Share Retained Total Capital Camings Equity Balance, July Issuance of shares 4.800 4.900 Net income 3.761 3.761 Dividends Balance, July 31 4.000 2.119 7.019 Barton Corporation Balance Sheet Ny 31, 2014 Barton Corporation Balance Sheet 3,000 Cash 3.900 0 count MOOIT THE GR O WTW O Barton Corporation Income Statement For Month Ended July 31, 2014 Barton Corporation Income Statement For Month Ended July 31, 2014 5.140 Revenues Expenses Net Income 3,761 Expenses Net Income Barton Corporation Statement of Changes in Equity For Month Ended July 31, 2014 Share Retained Total Capital Eaminge Equity Balance, July 1 Barton Corporation Statement of Changes in Equity For Month Ended My 31, 2014 Heland Total Catalange Equity Balance My Net income Dividends Balance, July 31 3.761 3.761 (1,642) (1,642) 2,1197,019 Net income Dividends Balance, July 31 4,900 3.761 (1.64 2.119 3.751 (1642) 7,019 4,900 Barton Corporation Balance Sheet July 31, 2014 Barton Corporation Balance Sheet July 31, 2014 3.900 31900 4,119 4.119 Cash Prepaid advertising Supplies Total assets Liabetes Accounts payable Uncamned rent Totallaties 4.200 Cash Prepaid advertising Supplies Total assets Liabilities Accounts payable Uneamed rent Total liabilities Equity Share capital Retained earnings Total equity Total liabilities and equity 4.200 4900 2,119 2.119 7,019 11.919 Retained ang Total equity Total liabilities and equity

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Using Accounting & Financial InformationAnalyzing, Forecasting, And Decision Making

Authors: Mark S. Bettner

2nd Edition

1947098683, 9781947098688

More Books

Students also viewed these Accounting questions

Question

Name five factors that affect the value of securities.

Answered: 1 week ago

Question

Is money the prime driver of employee performance?

Answered: 1 week ago