A tabular analysis of the transactions made during August 2022 by Sandhill Co. during its first…
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Question “A tabular analysis of the transactions made during August 2022 by Sandhill Co. during its first…”
A tabular analysis of the transactions made during August 2022 by Sandhill Co. during its first month of operations is shown below. Each increase and decrease in stockholders’ equity is explained. Assets + Stockholders’ Equity Liabilities Accounts Payable Cash + A/R + Supp. + Equip. + Common Stock + Retained Earnings Revenues Expenses Div 1. $15.700 2. $15,700 – 1,300 -850 $5,000 $3,700 3. $850 4. 4,300 $6,400 $10,700 5. -2,400 -2,400 -2,600 6. 7. -870 -$870 8. 420 -420 9. -3.700 -3,700 10. 270 -270
A tabular analysis of the transactions made during August 2022 by Sandhill Co. during its first month of operations is shown below. Each increase and decrease in stockholders’ equity is explained. Assets Liabilities Stockholders’ Equity + A/R + Supp. + Equip. Accounts Payable + Common Stock + Retained Earnings Revenues Expenses Dividends 00 $15,700 DO $5,000 $3,700 50 $850 00 $6,400 $10,700 Serv. Rev. 0 -2,400 DO -$2,600 10 -$870 Rent Exp. 20 -420 00 -3,700 Salar. Exp. Util. Exp. 270 -270
(b) Determine how much stockholders’ equity increased for the month. Increase in stockholders’ equity ta 17,460 (c) Compute the net income for the month. The net income $ 4,360
Answer
Thankyou……..
Answer: (b). Increase in Stockholders Equity Common stock & Retained farning- $15700+ $10700 – $870-3700 – $270-2600 a = $ 18,960 Net Income for the month Revenues – Escpenses = 10700- ($870+$3700+ $2570, $ 55860
Conclusion
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