Question
Income Statement for August yaml Copy code Income Statement for the Month
Ended August 31, 20Y9 --------------------------------------------------- Sales
Commissions Revenue: $52,800 Total Revenue: $52,800 Expenses: Salaries
Expense: $5,250 Rent Expense: $4,500 Auto Expense: $1,100 Miscellaneous
Expense: $1,200 Supplies Expense: $1,000 Total Expenses: $13,050 Net
Income: $39,750 2b. Statement of Stockholders' Equity for August yaml Copy
code Statement of Stockholders' Equity for the Month Ended August 31, 20Y9
-------------------------------------------------------------------- Common Stock:
Beginning Balance: $0 Issuances: $35,000 Ending Balance: $35,000 Retained
Earnings: Beginning Balance: $0 Net Income: $39,750 Dividends Paid: -$3,000
Ending Balance: $36,750 Total Stockholders' Equity: $71,750 2c. Balance Sheet
as of August 31, 20Y9 yaml Copy code Balance Sheet as of August 31, 20Y9
----------------------------------- Assets: Cash: $70,950 Supplies: $1,750 Total
Assets: $72,700 Liabilities and Stockholders' Equity: Accounts Payable: $950
Stockholders' Equity: $71,750 Total Liabilities and Equity: $72,700 These
, statements should accurately reflect Western Realty's financial position and
performance for August based on the transactions provided.
Answer & Explanation
The financial statements provided for Western Realty for the month ended
August 31, 20Y9 appear to be consistent and accurate based on the information
given. Let's break down each statement to ensure they align correctly:
Income Statement
Sales Commissions Revenue: $52,800
Total Revenue: $52,800 (matches Sales Commissions Revenue)
Expenses:
o Salaries Expense: $5,250
o Rent Expense: $4,500
o Auto Expense: $1,100
o Miscellaneous Expense: $1,200
Income Statement for August yaml Copy code Income Statement for the Month
Ended August 31, 20Y9 --------------------------------------------------- Sales
Commissions Revenue: $52,800 Total Revenue: $52,800 Expenses: Salaries
Expense: $5,250 Rent Expense: $4,500 Auto Expense: $1,100 Miscellaneous
Expense: $1,200 Supplies Expense: $1,000 Total Expenses: $13,050 Net
Income: $39,750 2b. Statement of Stockholders' Equity for August yaml Copy
code Statement of Stockholders' Equity for the Month Ended August 31, 20Y9
-------------------------------------------------------------------- Common Stock:
Beginning Balance: $0 Issuances: $35,000 Ending Balance: $35,000 Retained
Earnings: Beginning Balance: $0 Net Income: $39,750 Dividends Paid: -$3,000
Ending Balance: $36,750 Total Stockholders' Equity: $71,750 2c. Balance Sheet
as of August 31, 20Y9 yaml Copy code Balance Sheet as of August 31, 20Y9
----------------------------------- Assets: Cash: $70,950 Supplies: $1,750 Total
Assets: $72,700 Liabilities and Stockholders' Equity: Accounts Payable: $950
Stockholders' Equity: $71,750 Total Liabilities and Equity: $72,700 These
, statements should accurately reflect Western Realty's financial position and
performance for August based on the transactions provided.
Answer & Explanation
The financial statements provided for Western Realty for the month ended
August 31, 20Y9 appear to be consistent and accurate based on the information
given. Let's break down each statement to ensure they align correctly:
Income Statement
Sales Commissions Revenue: $52,800
Total Revenue: $52,800 (matches Sales Commissions Revenue)
Expenses:
o Salaries Expense: $5,250
o Rent Expense: $4,500
o Auto Expense: $1,100
o Miscellaneous Expense: $1,200
