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Category > Management Posted 01 Nov 2017 My Price 10.00

Dolan Banking Company

Amounts of the assets and liabilities of Dolan Banking Company, as of January 31, 2010, are given as follows. Also included are revenue and expense figures for the year ended on that date (amounts in millions):
         
Total revenue ........................ $               65.0   Investment assets..................... $             173.6
Receivables...........................                     2.8   Property and equipment, net ..                   23.5
Current liabilities ..................                 152.0   Other expenses.......................                     7.3
Common stock......................                   18.0   Retained earnings, beginning                     8.6
Interest expenseA????1A????1A????1A????1A????1                     1.3   Retained earnings, ending .....             ?
Salary and other
employee expensesA????1A????1A????1.		                   21.0   Cash..........................................                     3.4
Long-term liabilitiesA????1A????1A????1..                   13.1   Other assets.............................                   16.3
         
Prepare the balance sheet of Dolan Banking Company at January 31, 2010. Use the accounting equation to compute ending retained earnings.
Amounts of the assets and liabilities of Dolan Banking Company, as of January 31, 2010, are given as follows. Also included are revenue and expense figures for the year ended on that date (amounts in millions):
         
Total revenue ........................ $               65.0   Investment assets..................... $             173.6
Receivables...........................                     2.8   Property and equipment, net ..                   23.5
Current liabilities ..................                 152.0   Other expenses.......................                     7.3
Common stock......................                   18.0   Retained earnings, beginning                     8.6
Interest expenseA????1A????1A????1A????1A????1                     1.3   Retained earnings, ending .....             ?
Salary and other
employee expensesA????1A????1A????1.		                   21.0   Cash..........................................                     3.4
Long-term liabilitiesA????1A????1A????1..                   13.1   Other assets.............................                   16.3
         

Prepare the balance sheet of Dolan Banking Company at January 31, 2010. Use the accounting equation to compute ending retained earnings.

Please take the information shown and create a balance sheet and income statement and statement of retained earnings.

The tax rate is 30%

Dividends are zero

To balance your balance sheet you may change the balance in current liabilities

 

 


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Maurice Tutor
(5)
Status NEW Posted 01 Nov 2017 03:11 PM My Price 10.00

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