Question

Kaisha Corporation had the following account balances at the end of 2011: Service Revenue, $13,200; Rent Expense, $1,200; Wages Expense, $8,340; Advertising Expense, $1,350; Utilities Expense, $900; Income Taxes Expense, $200; and Dividends, $700.
In addition, the year-end balances of selected accounts were as follows: Cash, $1,550; Accounts Receivable, $750; Supplies, $100; Land, $1,000; Accounts Payable, $450; and Common Stock, $1,000.
In proper format, prepare the income statement, statement of retained earnings, and balance sheet for Kaisha (assume the year ends on December 31, 2011).



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  • CreatedSeptember 10, 2014
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