Answered step by step
Verified Expert Solution
Question
1 Approved Answer
provide at least 3 observations on profitability and 3 observations on liquidity. Johns Landscaping, Inc Income Statement For the month ended January 31, 2021 Revenues
provide at least 3 observations on profitability and 3 observations on liquidity.
Johns Landscaping, Inc | ||
Income Statement | ||
For the month ended January 31, 2021 | ||
Revenues | ||
Service Revenue | $ 9,300.00 | |
Expenses | ||
Rent Expenses | $ 7,200.00 | |
Utilities Expenses | $ 500.00 | |
Misc Expenses | $ 400.00 | |
Total Expenses | $ 8,100.00 | |
Net Income | $ 1,200.00 | |
Johns Landscaping, Inc | ||
Statement of Stockholders Equity | ||
For the month ended January 31, 2021 | ||
Common Stock | $ 12,000.00 | |
Net Income for the month | $ 1,200.00 | |
Dividends paid | $ (1,000.00) | |
Total Stockholders Equity | $ 12,200.00 | |
Johns Landscaping, Inc | ||
Balance Sheet | ||
For the month ended January 31, 2021 | ||
Assets | ||
Current assets | ||
Cash | $ 2,000.00 | |
Accounts Receivables | $ 1,000.00 | |
Supplies | $ 2,800.00 | |
Total current assets | $ 5,800.00 | |
Equipment | $ 9,900.00 | |
Total Assets | $ 15,700.00 | |
Liabilities and Stockholders Equity | ||
Current Liabilities | ||
Accounts Payable | $ 3,500.00 | |
Total Current Liabilities | $ 3,500.00 | |
Stockholders Equity | $ 12,200.00 | |
Total Liabilities and Stockholders Equity | $ 15,700.00 |
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