web view31/12/2010 · stockholders's equity. contributed capital. capital stock (400...

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Page 1: Web view31/12/2010 · Stockholders's Equity. Contributed Capital. Capital Stock (400 shares) Retained Earnings. Total Stockholders Equity. Total Liabilities and Stockholders

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)

Page 2: Web view31/12/2010 · Stockholders's Equity. Contributed Capital. Capital Stock (400 shares) Retained Earnings. Total Stockholders Equity. Total Liabilities and Stockholders

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