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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