Question : 240. Data for Madison Realty as follows: Total assets at December 31, : 1256344

 

240. Data for Madison Realty are as follows:

 

Total assets at December 31, 2013

$100,000

Total liabilities at December 31, 2013

35,000

Total revenues 2014

79,000

Total expenses for 2014

47,000

Common stock at December 31, 2013

20,000

Madison Realty paid dividends of $30,000 during 2014. From the above data, prepare Madison Realty’s statement of retained earnings for the year ended December 31, 2014.

 

 

241. FastForward has the following beginning cash balance and cash transactions for the month of January. Using this information, prepare a statement of cash flows.

 

a.

Beginning cash balance

$ 3,200

b.

Cash investment by stockholders

15,000

c.

Cash payment toward long-term loan

1,000

d.

Cash payment of rent

1,800

e.

Purchased equipment for cash

7,500

f.

Purchased store supplies for cash

1,500

g.

Cash collected from customers

7,750

h.

Cash dividends paid

2,000

i.

Cash payment of wages

4,000

 

 

 

242.  The records of Skymaster Airplane Rentals show the following information as of December 31, 2014:

 

Accounts payable

$ 36,000

2014 wages expense

$75,000

Insurance expense

2,000

2014 advertising expense

22,000

Accounts receivable

24,000

Cash

11,000

Retained earnings,

December 31, 2013

 

130,000

Common stock

Office furniture

20,000

15,000

Airplanes

150,000

2014 maintenance expense

39,000

Notes payable

47,000

2014 revenues

217,000

Hangar

60,000

 

 

 

Dividends of $52,000 were paid during 2014.

Using the above information, prepare an income statement for 2014.

 

 

 

 

 

243. The records of Skymaster Airplane Rentals show the following information as of December 31, 2014:

 

Accounts payable

$36,000

2014 wages expense

$75,000

Insurance expense

2,000

2014 advertising expense

22,000

Accounts receivable

24,00

Cash

11,000

Retained earnings,

December 31, 2013

 

130,000

Common stock

Office furniture

20,000

15,000

Airplanes

150,000

2014 maintenance expense

39,000

Notes payable

47,000

2014 revenues

217,000

Hangar

60,000

 

 

 

Dividends of $52,000 were paid during 2014.

Using the above information, prepare a statement of retained earnings for 2014.

 

 

 

244. The records of Skymaster Airplane Rentals show the following information as of December 31, 2014:

 

Accounts payable

$36,000

2014 wages expense

$75,000

Insurance expense

2,000

2014 advertising expense

22,000

Accounts receivable

24,000

Cash

11,000

Retained earnings,

December 31, 2013

 

130,000

Common stock

Office furniture

20,000

15,000

Airplanes

150,000

2014 maintenance expense

39,000

Notes payable

47,000

2014 revenues

217,000

Hangar

60,000

 

 

 

Dividends of $52,000 were paid during 2014.

Using the above information, prepare a balance sheet at December 31, 2014.

 

 

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more