Question

These items are taken from the financial statements of Tresh Corporation for 2014.
Retained earnings (beginning of year)... $31,000
Utilities expense........... 2,000
Equipment.............. 66,000
Accounts payable........... 18,300
Cash............... 10,100
Salaries and wages payable...... 3,000
Common stock........... 12,000
Dividends.............. 12,000
Service revenue........... 68,000
Prepaid insurance.......... 3,500
Maintenance and repairs expense.... 1,800
Depreciation expense......... 3,600
Accounts receivable........... 11,700
Insurance expense........... 2,200
Salaries and wages expense...... 37,000
Accumulated depreciation—equipment.. 17,600

Instructions
Prepare an income statement, a retained earnings statement, and a classified balance sheet as of December 31, 2014.



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  • CreatedApril 07, 2014
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