contestada

Problem 1. The following information relates to Ty Ringo Co. for the year 2011.
Owner’s Capital, January 1, 2011 $ 47,000 Advertising expense $1,500
Owner’s drawings 6,000 Rent expense 9,500
Service revenue 62,500 Utilities expense 3,400
Salaries expense 29,000
Instructions
After analyzing the data, prepare an income statement and Owner’s Equity statement for the
year ending December 31, 2011

Respuesta :

Net income and Owner’s Ending Equity are respectively $19,100 and $21,900.

                              Ty Ringo Corporation

Income statement for the year ending.....

Particular                                    Amount  

Service from revenue                  $62,500

Less:

Salaries expense                         $29,000

Advertising expense                   $1,500

Rent expense                              $9,500

Utilities expense                          $3,400  

Net Income                                   $19,100

                              Ty Ringo Corporation  

Owner’s Equity statement for the year ending.....

Particular                                    Amount              

Owner capital                             $47,000

Add:

Net income                                 $19,100

Less:

Owner’s drawings                        $6,000    

Owner’s Ending Equity              $21,900

Learn more:

https://brainly.com/question/21044666?referrer=searchResults

ACCESS MORE
ACCESS MORE
ACCESS MORE
ACCESS MORE

Otras preguntas