Financial data for Safety Hire as of 30 June 2019 are:
Accounts receivable
Equipment hire income
Accounts payable
Michael Donato, capital
Cash at bank
Mortgage payable
Building
$ 63 000
170 000
40 000
?
45 000
130 000
85 000
Wages expense
Advertising expense
Land
Hire equipment
Loan payable
Electricity expense
Telephone expense
$ 75000
30 000
75 000
180 000
50 000
18000
7 500
Required:
Prepare an income statement for the month of June and a balance sheet in account format for Safety
Hire as at 30 June 2019. (10 marks)
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Financial data for Safety Hire as of 30 June 2019 are: Accounts receivable Equipment hire income Accounts payable Michael Donato, capital ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Suppose the United States can produce 500 cars or 500 trucks. England can produce either 500 cars or 250 trucks. The opportunity cost of producing 1 car in England is: A. 1 truck. B. 2 trucks. C. 1/2 of a truck. D. 1/4 of a truck.
Answers (1)
Jared drives his car knowing that the brakes are defective and has an accident in which the car is damaged and he is injured. He will likely be unable to recover from the manufacturer, because he voluntarily assumed the risk of the defective brakes.
Answers (1)
In 2010, a small country imported goods worth $500 billion and exported goods worth $443 billion. it exported services worth $248 billion and imported services worth $330 billion.
Answers (1)
Morgan Company's budgeted income statement reflects the following amounts: Sales Purchases Expenses January $ 112,000 $ 70,000 $ 23,200 February 102,000 58,000 23,400 March 117,000 73,250 26,200 April 122,000 76,500 27,800 Sales are collected 50% in
Answers (1)
Which of the following is true about unearned revenues? A : They are earned and already received and recorded. B : They are received and recorded as liabilities before they are earned. C : They are earned but not yet received or recorded.
Answers (1)
New Questions in Business
What is the difference between capital gain and capital loss?
Answers (1)
g The Council of Economic Advisors to the President of a country reported gross investment expenditure at $400,000 during a particular year.
Answers (1)
What are the order of in which management can take legal action against a employee
Answers (1)
What best describes an entrepreneur? a. Someone who initiates and assumes the financial risk of a new business enterprise. b. A person who knows how to evaluate which stocks to purchase. c. Someone who can expertly manage other people's investments.
Answers (1)
JRN Enterprises just announced that it plans to cut its dividend from $3.50 to $2.50 per share and use the extra funds to expand its operations.
Answers (1)