Purchase Solution

Moore Services Company

Not what you're looking for?

Ask Custom Question

8. On May 1, 2006, the amount of capital stock in Moore Services Company was $71,000 and retained earnings was $30,000. During May, the company paid dividends of $15,100. The amounts of the various assets, liabilities, revenues, and expenses are as follows:

Accounts payable $8,900
Accounts receivable 25,950
Cash 11,390
Fees earned 70,800
Insurance expense 1,475
Land 74,400
Miscellaneous expense 1,510
Prepaid insurance 2,000
Rent expense 8,000
Salary expense 35,300
Supplies 950
Supplies expense 825
Utilities expense 3,800

Present in good form (a) an income statement for May, (b) a balance sheet as of May 31.

Attachments
Purchase this Solution
Solution Summary

This solution is comprised of a detailed explanation to present in good form (a) an income statement for May, (b) a balance sheet as of May 31.

Solution Preview

8. On May 1, 2006, the amount of capital stock in Moore Services Company was $71,000 and retained earnings was $30,000. During May, the company paid dividends of $15,100. The amounts of the various assets, liabilities, revenues, and expenses are as follows:

Accounts payable $8,900
Accounts receivable 25,950
Cash 11,390
Fees earned 70,800
Insurance ...

Purchase this Solution
Free BrainMass Quizzes
MS Word 2010-Tricky Features

These questions are based on features of the previous word versions that were easy to figure out, but now seem more hidden to me.

Change and Resistance within Organizations

This quiz intended to help students understand change and resistance in organizations

Organizational Leadership Quiz

This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.

Cost Concepts: Analyzing Costs in Managerial Accounting

This quiz gives students the opportunity to assess their knowledge of cost concepts used in managerial accounting such as opportunity costs, marginal costs, relevant costs and the benefits and relationships that derive from them.

Marketing Management Philosophies Quiz

A test on how well a student understands the basic assumptions of marketers on buyers that will form a basis of their marketing strategies.

View More Free Quizzes
Related BrainMass Solutions

  • Moore Services: Prepare income statement and balance sheet i

    220111 Moore Services: Prepare income statement and balance sheet in good form On May 1, 2006, the amount of capital stock in Moore Services Company was $71,000 and retained earnings was $30,000. During May, the company paid dividends of $15,100.

  • Describe a marketing plan for McBride Financial Services

    The customers will keep faith on the company and its services because they have clarity about the services and the charges taken by the company.

  • Discussing unfair labour practices

    With respect to the unfair labor practices, the complaint alleged that the respondent induced and encouraged employees of Moore Dry Dock Company to engage in a strike or concerted refusal in the course of their employment to perform services for Moore

  • Sherman Company wishes to expand and has borrowed

    Therefore, intention of Sherman Moore is unethical and should not be practiced. The expert examines Sherman Company to for wishes to expand and borrowed.

  • This post addresses Mary Moore, the CEO of Beta, Inc.

    Moore? Or is it a utopian idea with no understanding of how human nature works? Mary Moore, the CEO of Beta Inc., has called a management meeting to discuss a comprehensive fraud prevention program.

  • Joanna Capella came to work for Educational Books (a small a

    Upon reassignment, she promptly resigned from the company and brought suit for sexual harassment/constructive discharge. It is undisputed by either side that Moore and Capella had a consensual sexual relationship which ended in late 2002.

  • License Questions & Healthcare

    National licensure leads to lack of clarity in standards therefore compromising on quality of services (Moore, 2011).

  • Moore Manufacturing New Equipment Purchase

    294498 Moore Manufacturing New Equipment Purchase Moore Manufacturing is currently operating at its full capacity of 15,000 units per year; however, even at full capacity, it is not able to keep up with demand for its products.

  • Nationwide Establishment: Benefits of Customer Loyalty

    It provides online services to its customers to save their time and provides good value of their money that may also enhance loyalty of the customers (Fernie, Moore, Fernie & Fernie, 2003).

View More Related Solutions