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Saturday, 3 November 2012

Assume that you are the president of Nuclear Company. At the end of the first year of operations (December 31, 2009), the following financial data for the company are available:

Assume that you are the president of Nuclear Company. At the end of the first year of operations (December 31, 2009), the following financial data for the company are available:
  Cash $ 12,300
  Accounts Receivable 79,500
  Supplies 9,300
  Equipment 51,000
  Accounts Payable 22,797
  Notes Payable 1,430
  Sales Revenue 91,500
  Operating Expenses 47,200
  Other Expenses 7,650
  Contributed Capital 91,473
  Dividends 250

Requirement 1:
Prepare an income statement for the year ended December 31, 2009. (Omit the "$" sign in your response.)
NUCLEAR COMPANY
Income Statement
For the Year Ended December 31, 2009
  Sales revenue $  

  Expenses
      Operating expenses  
      Other expenses  

         Total Expenses  

  Net income $  



Requirement 2:
Prepare a statement of retained earnings for the year ended December 31, 2009. (Leave no cells blank - be certain to enter "0" wherever required. Input all amounts as positive values. Omit the "$" sign in your response.)
NUCLEAR COMPANY
Statement of Retained Earnings
For the Year Ended December 31, 2009
  Retained Earnings, January 1, 2009 $  
  Add: Net income  
  Less: Dividends  

  Retained Earnings, December 31, 2009 $  



Requirement 3:
Prepare a balance sheet at December 31, 2009. (Be sure to list the assets in order of their liquidity. Omit the "$" sign in your response.)
NUCLEAR COMPANY
Balance Sheet
At December 31, 2009
  Assets
       Cash $  
       Accounts receivable  
       Supplies  
       Equipment  

  Total Assets $  


  Liabilities
       Accounts payable  
       Notes payable  

  Total Liabilities  

  Stockholders' Equity
       Contributed capital  
       Retained earnings  

  Total Stockholders' Equity  

  Total Liabilities and Stockholders' Equity $  




 

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