The following information is as of December 31, 2010 for Home Health, Inc Cash .......................................................$20,000 Accounts Receivable

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The following information is as of December 31, 2010 for Home Health, Inc

Cash .......................................................$20,000

Accounts Receivable ...............................$2,000

Supplies ...................................................$1,000

Equipment .............................................$10,000

Accounts Payable ....................................$5,000

Common Stock ......................................$25,000

Dividends ................................................$3,000

Service Revenue ......................................$9,000

Rent Expense ..........................................$1,000

Salary Expense ........................................$2,000


Retained Earnings for the beginning of the month is 0.

Please complete the income statement, statement of retained earnings and balance sheet for Home Health, Inc.


The following information is as of December 31, 2010 for


A. Complete the statement of retained earnings for the fiscal year ending December 31, 2010
Beginning Retained Earnings$0
+ Net Income or - Net Loss:
- Dividends:
= Ending Retained Earnings
B. Complete the Income Statement for year ending December 31, 2010
Revenue
Minus
Expenses
Netincome

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Related Book For  book-img-for-question

Fundamental Accounting Principles

ISBN: 978-0078110870

20th Edition

Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta

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