The financial statements at the end of Zeppelin Realtys first month of operations are shown below. Instructions
Question:
Instructions
By analyzing the interrelationships among the four financial statements, determine the proper amounts for (a) through(q).
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
Transcribed Image Text:
Zeppelin Realty Income Statement For the Month Ended November 30, 2006 Fees earned Operating expenses: Wages expense Rent expense Supplies expense Utilities expense Miscellaneous expense $8 50000 32 0000 b) 180000 110000 Total operating oxpenses 176 00 00 $1240 0 oo Net income Zeppelin Realty Statement of Owner's Equity For the Month Ended November 30, 2006 Craig Haas, capital, Novembor 1, 2006 Investment on November 1, 2006 Not income for November $4000000 e) 600000 Less withdrawals Increase in owner's equity Craig Haas, capital, November 30, 2006 Zeppelin Realty Balance Sheet November 30, 2006 Assets Liabllitles Cash Supplies Land $580000 Accounts payable $ 160000 220000 Owner's Equity 4000 000 Craig Haas, capital Total liabilities and Total assets howner's equity Zeppelin Realty Statement of Cash Flows For the Month Ended November 30, 2006 Cash flows from operating actvitles: Gash received from customers Deduct cash payments for expenses and payments to creditors Net cash flow from operating activities Cash flows from investing activities: Cash payments for acquisition of land Cash fiows from financing activities Cash received as owner's investment Deduct cash withdrawal by owner Net cash flow from financing activities Net cash flow and November 30, 2006 cash balance
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 70% (10 reviews)
All figures are in 00 a Fees earned 30000 12400 17600 b Supplies expense 300...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Accounting
ISBN: 978-0324188004
21st Edition
Authors: Carl s. warren, James m. reeve, Philip e. fess
Question Posted:
Related Video
In order to determine the amount of cash created by operating operations, the indirect technique for preparing the statement of cash flows entails adjusting net income with changes in balance sheet.
Students also viewed these Accounting questions
-
The financial statements at the end of Sciatic Realty, Inc.s first month of operation are shown below. By analyzing the interrelationships between the financial statements, fill in the proper amounts...
-
The financial statements at the end of Flagstone Consulting, Inc.s first month of operation are shown below. By analyzing the interrelationships between the financial statements, fill in the proper...
-
The financial statements at the end of Sayre Realty, Inc.s first month of operation are shown below. By analyzing the interrelationships among the financial statements, fill in the proper amounts for...
-
Visit any social media site with news stories that includes a photograph/snapshot of story (mandatory) . Choose ONE news story. Use the questions below to help you determine validity of that ONE news...
-
For each of the following compounds, draw the form in which it will predominate at pH = 3, pH = 6, pH = 10, and pH = 14: a. b. c. CH3COOH pKa = 4.8 CH3CH2NH3 pKa 11.0 CF CH2OH pKa 12.4
-
what ways do cultural and societal factors shape attitudes towards multitasking, and how do cultural norms influence the prevalence and acceptance of multitasking behaviors across different contexts ?
-
List the different ways nonprofit tax - exempt organizations can or should self - regulate.
-
Draw a physical level 0 data flow diagram (DFD) for the following dentist office system, and compare it with the logical model that you created in Chapter 5: Whenever new patients are seen for the...
-
1. Discuss the role of distribution management in the marketing mix. 2. Explain all the functions of intermediaries. 3. Explain briefly the levels of
-
Obtain the Fourier series expansion for the waveform shown in Fig. 17.49. z(t)
-
The financial statements at the end of Ameba Realtys first month of operations are shown below. Instructions By analyzing the interrelationships among the four financial statements, determine the...
-
Identify the errors in the following trial balance. All accounts have normal balances. Dinero Co. Trial Balance For the Month Ending January 31, 2006 Cash 16,400 ...3,600 Accounts Payable 1,850 1,250...
-
What are the environmental benefits of resource recovery? Of fluidized-bed combustion?
-
In 1985, there were 285 cell phone subscribers in the small town of Centerville. The number of subscribers increased by 75% per year after 1985 . In what year were there 6,209 cell phone subscribers?
-
Project managers often have the ability to negotiate with, empower, incentivize, and discipline team members. Find and cite a case study where some of these skills were used to manage a team. If you...
-
On January 1, 2024, Jaewoo Industries had outstanding 720,000 common shares ($1 par) that originally sold for $30 per share, and 6,000 shares of 10% cumulative preferred stock ($100 par), convertible...
-
A ball is thrown vertically upward. After t seconds, its height h (in feet ) is given by the function h(t)=48t-16t^(2). After how long will it reach its maximum height?
-
Your scenario for Assessment 1: You are a marketing consultant for a fictional company of your choice (see the Moodle shell to decide which case study you will commit to using for all assessments in...
-
Holmes Manufacturing is considering a new machine that costs $285,000 and would reduce pretax manufacturing costs by $90,000 annually. The new machine will be fully depreciated at the time of...
-
What are some of the features of the Unified Process (UP)?
-
Why are standards necessary for controlling website management? What aspects of the site do standards seek to control?
-
A company wishes to conduct business in a foreign country that attracts businesses by granting holidays from income taxes for a certain period of time. Would the company have to disclose this holiday...
-
When is a company allowed to initially recognize the financial statement effects of a tax position?
-
(One Temporary Difference, Future Taxable Amounts, One Rate, No Beginning Deferred Taxes) Starfleet Corporation has one temporary difference at the end of 2010 that will reverse and cause taxable...
-
Cul de las siguientes definiciones es ms acertada respecto al ciclo de vida del proyecto? Seleccione una: a. El ciclo de vida del proyecto es un conjunto de fases del mismo, las cuales, generalmente...
-
The MacCauley Company has sales of $ 2 0 0 million and total expenses ( excluding depreciation ) of $ 1 3 0 million. Straight - line depreciation on the company s assets is $ 1 5 million, and the...
-
A 8 - year bond with a coupon rate of 3 . 3 % has a yield of 3 . 3 % . The bond pays coupons semi - annually. What is the price of the bond? Please show your work.
Study smarter with the SolutionInn App