Tableau DA 1-3: Mini-Case, Preparing an income statement LO A1, P2 The owner of Neros company has hired you to analyze her company's performance and financial position, as well as the positions of its competitors, Centar and Xenmix. However, the data Neros obtained is incomplete and is shown in the following Tableau Dashboard Accounting Equation Data Xenmix Neros Centar $100,000 Sdlve for Liabilities $80,000 $60,000 Solve for Assets $40,000 Solve for Equity $20,000 Liabilities Liabilities Liabilities Assets Assets Assets Equity Equity Equity Neros Income Statement Data Neros Revenue Accounts Neros Expense Accounts $50,000 $40,000 Utilities Expense Rent Expense $30,000 Insurance Expense Advertising Expense $20,000 Salaries Expense $10,000 $0 Consulting Revenue Rental Revenue a blea u 1. Using income statement data for Neros, prepare a December income statement dated December 31. 2. If Neros pays a cash dividend to its sole stockholder to pay for a family vacation, how is this reported on the financial statements? 3. If the sole stockholder of Neros invests cash into the business, how is this reported on the financial statements? Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Req 2 and 3 Req 1 Using income statement data for Neros, prepare a December income statement dated Ded NEROS Income Statement Req 1 Req 2 and 3 2. If Neros pays a cash dividend to its sole stockholder to pay for a family vacation, how is this reported on the financial statements? 3. If the sole stockholder of Neros invests cash into the business, how is this reported on the financial statements? If Neros pays a cash dividend to its sole stockholder to pay for a family vacation, how is this reported on the financial statements? If the sole stockholder of Neros invests cash into the business, how is this As a dividend on the statement of retained earnings As an increase to common stock on the balance sheet 3 reported on the financial statements? Req 1 Req 2 and 3 Tableau DA 1-3: Mini-Case, Preparing an income statement LO A1, P2 The owner of Neros company has hired you to analyze her company's performance and financial position, as well as the positions of its competitors, Centar and Xenmix. However, the data Neros obtained is incomplete and is shown in the following Tableau Dashboard Accounting Equation Data Xenmix Neros Centar $100,000 Sdlve for Liabilities $80,000 $60,000 Solve for Assets $40,000 Solve for Equity $20,000 Liabilities Liabilities Liabilities Assets Assets Assets Equity Equity Equity Neros Income Statement Data Neros Revenue Accounts Neros Expense Accounts $50,000 $40,000 Utilities Expense Rent Expense $30,000 Insurance Expense Advertising Expense $20,000 Salaries Expense $10,000 $0 Consulting Revenue Rental Revenue a blea u 1. Using income statement data for Neros, prepare a December income statement dated December 31. 2. If Neros pays a cash dividend to its sole stockholder to pay for a family vacation, how is this reported on the financial statements? 3. If the sole stockholder of Neros invests cash into the business, how is this reported on the financial statements? Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Req 2 and 3 Req 1 Using income statement data for Neros, prepare a December income statement dated Ded NEROS Income Statement Req 1 Req 2 and 3 2. If Neros pays a cash dividend to its sole stockholder to pay for a family vacation, how is this reported on the financial statements? 3. If the sole stockholder of Neros invests cash into the business, how is this reported on the financial statements? If Neros pays a cash dividend to its sole stockholder to pay for a family vacation, how is this reported on the financial statements? If the sole stockholder of Neros invests cash into the business, how is this As a dividend on the statement of retained earnings As an increase to common stock on the balance sheet 3 reported on the financial statements? Req 1 Req 2 and 3
