TOBBS These financial statement items are for Grouper Corporation for the year end, July 31, 2018. Salaries payable Salaries expense Utilities expense Equipment Accounts payable Service revenue Rent revenue Bank loan payable Common shares, August 1, 2017 Cash Accounts receivable Accumulated depreciation-equipment Dividends declared Depreciation expense Interest expense Interest payable Income tax expense Retained earnings, August 1, 2017 $5,640 51,980 22,600 32,870 4,260 76,340 8,260 1,628 16,050 28,360 20,640 5,370 4,350 3,720 100 100 1,500 33,522 Grouper issued $14,950 of common shares during the year. Prepare an income statement for the year ended July 31, 2018 GROUPER CORPORATION Income Statement Year Ended July 31, 2018 Revenues Service Revenue $ 76.340 Rent Revenue 8260 Total Revenues 84600 Expenses Salaries Expense $ 51980 Utilities Expense 22600 Interest Expense I 100 Depreciation Expense 3720 Total Expenses 78400 Income Before Income Tax 6200 Income Tax Expense 1500 Net Income /(Loss $ 4700 Prepare a statement of changes in equity for the year ended July 31, 2018. Of an amount reduces the account balance then enter with negative signes.-45 or parentheses eg. (451) GROUPER CORPORATION 3.00 24 tv A P W Prepare a statement of changes in equity for the year ended July 31, 2018. (If an amount reduces the account balance then enter with negative signeg.-45 or parentheses eg. (451) GROUPER CORPORATION Statement of Changes in Equity Year Ended July 31, 2018 Common Shares Retained Earnings 16050 $ 33522 Total Equity Balance Aug 1, 2017 v $ $ 49572 Issued Common Shares y Net Income/(Loss) 4700 4700 Dividends Declared (4350) (4350) Balance, July 31, 2018 v $ 16050 33872 $ 49922 e Textbook and Media List of Accounts Prepare a classified statement of financial position at July 31, 2018 GROUPER CORPORATION Statement of Financial Position Year Ended July 31, 2018 AN 3.001 Prepare a classified statement of financial position at July 31, 2018 GROUPER CORPORATION Statement of Financial Position Year Ended July 31, 2018 Assets Current Assets Cash $ Equipment Total Current Assets $ $ $ Liabilities and Shareholders' Equity $ 3.001 atv 24 W A Liabilities and Shareholders'Equity $ $ I e Textbook and Media List of Accounts Calculate the current ratio and debt to total assets ratio. (Round answers to 1 decimal place, s. 25.5.) Current ratio ctv 24 A P w MacBook Pro e Textbook and Media List of Accounts Calculate the current ratio and debt to total assets ratio. (Round answers to 1 decimal place, e.g. 25.5.) Current ratio :1 Debt to total assets ratio % e Textbook and Media List of Accounts Save for Later Last saved 7 days ago Attempts: 0 of 1 used Submi OCI 24 e tv Current Allempt In Progress Below is the trial balance of Cullumber Corporation on September 30. CULLUMBER CORPORATION Trial Balance September 30, 2018 Debit Credit Cash $8,900 Accounts Receivable 2,700 Supplies 2.100 Equipment 8,400 Accounts Payable $5.200 Unearned Revenue 900 Common Shares 16,000 $22,100 $22,100 The October transactions were as follows: Oct. 2 5 10 15 Paid rent for the month of October of $1,100 in cash. Received $1,500 in cash from customers for accounts receivable due. Billed customers for services performed in the amount of $4,500. Paid employee salaries of $1,500. Performed $660 of services for customers who paid in advance in August Paid $1,400 to creditors for accounts payable due. Declared and paid a $320 cash dividend. Paid utilities of $460. 17 20 29 31 income tax. wereds follows: Oct. 2 5 10 15 17 20 29 31 31 Paid rent for the month of October of $1,100 in cash. Received $1.500 in cash from customers for accounts receivable due. Billed customers for services performed in the amount of $4,500. Paid employee salaries of $1,500. Performed $660 of services for customers who paid in advance in August. Paid $1.400 to creditors for accounts payable due. Declared and paid a $320 cash dividend. Paid utilities of $460. Paid $730 for income tax Journalize the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Oct.2 Rent Expense 1100 Cash 110 Oct. 5 Cash 1500 Account receivable 150 Oct. 10 Accounts Receivable 4500 Service Revenue 450 Oct. 15 Salaries Expense 1500 Cash 150 Senden 66 3,001 24 ctv QulJLUIT JUIJ -/30 Journalize the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and explanation Debit Credit Oct 2 Rent Expense 1100 Cash 110 1500 Oct. 5 Cash 150 Account receivable Accounts Receivable Oct 10 4500 450 Service Revenue 1500 Oct 15 Salaries Expense 150 Cash 660 Oct. 17 Service Revenue 66 Accounts Receivable 1400 Oct. 20 Accounts Payable 140 Cash 300 Oct 29 Dividends Declared Cash 460 46 Oct 31 Utilities Expense Cash [To record payment of utilities) tv 24 JULJ Cash - / 30 Oct 17 Service Revenue 150 660 Accounts Receivable Oct 20 Accounts Payable 66 1400 Cash Oct 29 140 Dividends Declared 320 Cash Oct 31 Utilities Expense 460 Cash 40 (To record payment of utilities) Income Tax Expense Oct 31 730 Cash 73 (To record payment of income tax) e Textbook and Media List of Accounts Using Taccounts, enter the opening balances in the general ledger accounts at September 30, and post the journal entries to the general ledger (Post entries in the order presented in the problem.) Cash 3.001 tv A 24 Using Taccounts, enter the opening balances in the general ledger accounts at September 30, and post the journal entries to the general ledger. (Post entries in the order presented in the problem.) Cash 9/30 Bal 8900 10/2 > 1100 10/5 v 1500 10/15 > 1500 10/20 1400 10/29 730 Bal. 4890 Accounts Receivable 9/30 Bal. 2700 10/5 1500 10/10 4500 10/17 660 Bal 5040 Supplies 9/30 Bal 2100 Equipment 24 ctv W Supplies 9/30 Bal v 2100 Equipment 9/30 Bal 8400 Accounts Payable 10/20