Mondrian Company show the following balances. Prepare an Income statement, statement of retained earnings and a balance sheet.

Cash 14,900

Accounts receivable 6,200

Supplies 8,400

Equipment 15,900

Accounts payable 2,400

Common stock 22,000

Retained earnings, Dec. 31, Year 1 15,900

Owner Draw 14,200

Consulting revenue 45,200

Rental revenue 17,400

Salaries expense 18,500

Rent expense 16,700

Selling and administrative expenses 8,100

Answer rating: 100% (QA)

To prepare the financial statements for Mondrian Company well start with the Income Statement then move on to the Statement of Retained Earnings and finally the Balance Sheet Income Statement Mondrian ... View the full answer