QUESTIONS

XYZ Company has the total assets at January $1,2021$ were $$475,000$ and at December $31,2021$ were $$392,000.$ During $2021,$ sales $$965,000,$ and operating expense were $$576,000$ and interest expense were $$12,000$ except cost of goods sold. Total liabilities at December $31,2021$ were $$193,000$ and at January $1,2021$ were $$149,000.$ There were no paid in capital during the $2021.$ XYZ Company also paid dividend at $$18,000$ during $2021.$

a$)$ What is the stockholders equity for beginning and ending period of $2021?(10$ point$)$

b$)$ What is the cost of goods sold for $2021?(10$ point$)$

c$)$ What is the net income for $2021?(10$ point$)$

XYZ Company has the following transactions for May $1,2022$;

a$)$ Invested $$15,000$ cash as an additional capital

b$)$ Collected sales revenue in cash $$7,200$

c$)$ Paid for employee wages expense at $$2,800$ cash

d$)$ Paid for interest expense at $$1,650$ cash

e$)$ Purchased equipment at $$8,400$ which will be paid later

f$)$ Payment of accounts payable at $$6,000$ as cash

g$)$ Company borrowed $$50,000$ cash from bank which has recorded as note payable.

h$)$ $$50,000$ note payable has interest payment at $\%4$ for $1$ year

i$)$ Sold services at $$9,450$ which will be received within $30$ days

According to transactions above from a to $h,$ prepare a Journal Entry for May $1,2022(30$ point$)$

XYZ Company has the following statement;

$\backslash$table$[[$Advertising expense,$$3,900$