Question

Tarech Corporation engaged in activities during the first year of its operations that resulted in the following: Service Revenue, $4,800; Total Expenses, $2,450; and Dividends, $410. In addition, the year-end balances of selected accounts were as follows: Cash, $1,890; Other Assets, $1,000; Accounts Payable, $450; and Common Stock, $500. In proper format, prepare the income statement, statement of retained earnings, and balance sheet for Tarech (assume the year ends on December 31, 2011).



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  • CreatedSeptember 10, 2014
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