Howell Corp: Prepare an income statement and a retained earn
Not what you're looking for?
These financial statements are for the Howell Corporation at year-end, June 30, 2011
Salaries payable 2580
Salaries expense 48700
utilities expense 22600
equipment 21000
accounts payable 4100
commission revenue 61100
rent revenue 8500
long term note payable 1800
common stock 16000
cash 24200
accounts receivable 9780
accumulated depreciation 6000
dividends 5000
depreciation expense 4000
retained earnings (beginning of the year) 35200
Prepare an income statement and a retained earnings statement for the year.
Purchase this Solution
Solution Summary
This solution provides a sample income statement based on the given financial data.
Purchase this Solution
Free BrainMass Quizzes
SWOT
This quiz will test your understanding of the SWOT analysis, including terms, concepts, uses, advantages, and process.
Team Development Strategies
This quiz will assess your knowledge of team-building processes, learning styles, and leadership methods. Team development is essential to creating and maintaining high performing teams.
Employee Orientation
Test your knowledge of employee orientation with this fun and informative quiz. This quiz is meant for beginner and advanced students as well as professionals already working in the HR field.
Academic Reading and Writing: Critical Thinking
Importance of Critical Thinking
Accounting: Statement of Cash flows
This quiz tests your knowledge of the components of the statements of cash flows and the methods used to determine cash flows.