web view31/12/2010 · stockholders's equity. contributed capital. capital stock (400...
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Turtle CompanyTrial BalanceFor Year Ended December 31, 2010
CashAccount receivable (net)InventoryAccumulated DepreciationSalaries payableIncome taxes payableCapital stock (400 shares)Retained esrningsDividendsSales RevenueCost of Good soldSelling ExpensesAdministrative ExpensesIncome taxes expenseTotal
Turtle CompanyIncome StatementFor Year Ended December 31, 2010
Sales RevenueCost of Good SoldsGross profit on SalesOperating ExpensesSelling ExpensesAdministrative ExpensesTotal operating expensesIncome before income taxesIncome tax expenses(30%)Net Income
Earning per Share(400 shares)
Turtle CompanyStatement of Retained Earningsstatement of Retained Earnings
Retained Earnings, January 1, 2010Add: Net IncomeLess: Dividends
Less: Accumulated DepreciationTotal property and equipmentTotal Assets
LiabilitiesCurrent liabilitiesAccounts payableSalaries payableIncome tax payableTotal Current liabilities
Stockholders's EquityContributed CapitalCapital Stock (400 shares)Retained EarningsTotal Stockholders EquityTotal Liabilities and Stockholders' Equity