Equinox Products Inc Income Statement For The Year Ended December 31 20y8

After all of the transactions for the year ended december 31 year 1 had been posted including the transactions recorded in part 1 and all adjusting entries the data that follows were taken from the records of equinox products inc.

Equinox products inc income statement for the year ended december 31 20y8. Balance sheet for the year ended december 31 20y8 assets cash 282 850 accounts receivable 545 000 allowance for doubtful accounts 8 450 536 550 interest view the full answer. Unless otherwise stated assume a december 31 balance after adjusting entries. Issued 4 000 shares of 80 par preferred 5 stock at 100 receiving cash. During the fiscal year ended december 31 20y8 were as follows.

Issued 15 000 shares of 20 par common stock at 30 receiving cash. Income statement equinox products inc. Issued 4 000 shares of 80 par preferred 5 stock at 100 receiving cash. Selected transactions completed by equinox products inc.

Issued 00000 of 10 year 5 bonds at 104 with interest payable. Income statement for the year ended december 31 20y8 sales 5 313 000 cost of goods sold 3 700 000 gross profit 1 613 000 operating expenses. Issued 15 000 shares of 20 par common stock at 30 receiving cash. Income statement for the year ended december 31 2016 1 sales 5 254 000 00 2 cost of merchandise sold 3 700 000 00 3 gross profit 1 554 000 00 4 operating expenses.

Retained earnings statement for the year ended december 31 20y8 retained earnings january 1 20y8 net income change in retained earnings dividends common dividends preferred retained earnings december 31 20y8 3. Sales salaries expense 385 000 sales commissions 185 000 advertising expense 150 000 depreciation expense store buildings and equipment 100 000. Selected transactions completed by equinox products inc. Issued 15 000 shares of 20 par common stock at 30 receiving cash.

Issued 500 000 of 10 year 5 bonds at 104 with interest payable. Selected transactions completed by equinox products inc. 6 sales salaries expense 385 000 00 7 sales commissions 185 000 00 8 advertising expense 150 000 00 9 depreciation. Issued 4 000 shares of 80 par preferred 5 stock at 100 receiving cash.

Prepare a balance sheet. Issued 500 000 of 10 year 5 bonds at 104 with interest payable semiannually. Decreases in equity should be entered as negative amounts by using a minus sign equinox products inc. Issued 4 000 shares of 80 par preferred 5 stock at 100 receiving cash.

Prepare a multiple step income statement for the year ended december 31 year 1 concluding with earnings. Selected transactions completed by equinox products inc. After all of the transactions for the year ended december 31 20y8 had been posted including the transactions recorded in part 1 and all adjusting entries the data below were taken from the records of equinox products inc. During the fiscal year ended december 31 2014 were as follows.