Atlas, Inc. has the following assets, liabilities, revenues and expenses for the current year. The accounts are

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Atlas, Inc. has the following assets, liabilities, revenues and expenses for the current year. The accounts are listed below in alphabetical order. The company has a December 31, 2014 year end.
Atlas, Inc. has the following assets, liabilities, revenues and expenses

Beginning retained earnings was $110,000 and dividends were $5,000 for the year.
Instructions
Prepare the income statement, statement of retained earnings, and balance sheet for Atlas, Inc. for the current year.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Advanced Accounting

ISBN: 978-1934319307

2nd edition

Authors: Susan S. Hamlen, Ronald J. Huefner, James A. Largay III

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