[Rathi134]

ok i am hoping someone on here can help me with this crap

Accounts Payable 17600
Accounts Receivable 6410
Advertising Expense 14500
Buildings 60000
Capital Stock 50000
Cash 15230
Concessions Revenue 60300
Cost of concessions sold 23450
Dividends paid during the month 8400
Furntiture and fixtures 34000
Land 26000
Notes Payable 20000
Projection equipment 25000
Rent expense-movies 50600
Retained Earnings 73780
Salaries and wage expenses 46490
ticket sales 95100
Utilities 6700

ok so i have to make a income statement, balance sheet, and retained earnings statement

My attempt at income statement
Revenues

Accounts Receivable 6410
Concessions Revenue 60300
ticket sales 95100

total 161810

Expenses
Utilities 6700
Accounts Payable 17600
Advertising Expense 14500
Cost of concessions sold 23450
Dividends paid during the month 8400
Salaries and wage expenses 46490
Rent expense-movies 50600
Notes Payable 20000

Total 187740

Net Income - 25930

Im guessing this cant possibly be correct. either i missed an item off the list for income or I included too many expenses.


I have no idea how to make a retained earnings statement. hehe guess ill flip back through the chapter

Balance Sheet attempt
Assets
Cash 15230
Buildings 60000
Land 2600
Furniture and fixtures 34000
Projections equipment 25000
Total 160230
Liabilities and Stockholder's equity
Capital Stock 50000
Retained earnings 73780
net income - 25930

yeah that has to be wrong, whatever i messed up on with the income statement screwed the balance sheet up. anyone know what the heck i did wrong?

 

[Imobejoas]

DNE does not do school homework.

 

[tekmode]

LOL i dropped accounting last semester, i hate that class so much

 

[ny98max]

Accounting 101:

Turbo = $2500
Time spent installing * Money per hour 30hours * $10 = $300
Trash talkin on forums and then running 14.2 in the 1/4 mile = Priceless

 

[bkeasley]

i dropped accounting for programing classes in highschool... smartest move i ever did :thumbup:

 

[Rathi134]

Accounting 101:

Turbo = $2500
Time spent installing * Money per hour 30hours * $10 = $300
Trash talkin on forums and then running 14.2 in the 1/4 mile = Priceless

wow your cool, too bad that doesnt help me in any way shape or form. now buzz off

 

[Jeff]

I thought this was funny...the ad at the bottom of this page is for "The Accounts Payable Network".
lol

 

[sultan]

you're screwed.

it's been 3 years since i took accounting and i promptly forget everything i learn after the class is over.

 

[Rathi134]

you're screwed.

it's been 3 years since i took accounting and i promptly forget everything i learn after the class is over.

its ok i found a guy on the mini forums who does this for a living so he helped me out