Question: creating financial statements balance sheet income statement and S/E USING THE SPACE BELOW PLEASE PREPARE, IN GOOD FORM INCLUDING HEADINGS, IN THIS ORDER: 1.) AN

creating financial statements balance sheet income statement and S/E

USING THE SPACE BELOW PLEASE PREPARE, IN GOOD FORM INCLUDING HEADINGS, IN THIS ORDER:
1.) AN INCOME STATEMENT
2.) A STATEMENT OF STOCKHOLDERS EQUITY (AS MENTIONED IN CLASS YOU ONLY NEED
TO PREPARE THE COLUMN FOR RETAINED EARNINGS FOR THE EXAM)
3.) A BALANCE SHEET
Trial balance for Jordan Sales Company For the Year ended March 31, 2016
TRIAL BALANCE FOR PROBLEM P5-6 AMOUNT
Dividend Payable $10,500
Income tax expense 9,500
Inventories 1,000
Rent Expense 8,000
Office Equipment 3,000
Depreciation Expense 8,000
Additional Paid In Capital 5,000
Sales Revenue 99,000
Accounts Receivable 49,000
Retained Earnings 7,500
Salaries and Commissions Payable 2,000
Cash 58,000
Common Stock (Par $1; 33,000 shares) 33,000
Interest Expense 4,000
Notes Payable, Long Term 33,000
Salaries Expense 7,000
Accumulated DepreciationOffice Equipment 1,000
Prepaid Expenses 10,500
Dividends Declared 10,500
Unearned Revenue 4,000
Automobiles 34,000
Cost of Goods Sold 33,000
Accounts Payable 22,000
Short-Term Investments 9,000
Accrued Expenses 5,000
Accumulated Depreciation Automobiles 14,000
Utilities Expense 4,000
Dividend Revenue 3,000
Income Taxes Payable 9,500

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