Refer to Problem 2-47B. After completing the trial balance in Problem 2-47B, prepare the following financial statements

Question:

Refer to Problem 2-47B. After completing the trial balance in Problem 2-47B, prepare the following financial statements for Beth Yung, Designer, P.C.:

Requirements

1. Income statement for the month ended November 30, 2012.

2. Statement of retained earnings for the month ended November 30, 2012. The beginning balance of retained earnings was $0.

3. Balance sheet at November 30, 2012.


Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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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Financial and Managerial Accounting

ISBN: 978-0132497978

3rd Edition

Authors: Horngren, Harrison, Oliver

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