Question: Please answer On your solution sheets prepare: 1) an Income Statement, 2) a Statement of Retained Earnings, and 3) a Balance Sheet. Be sure to
Please answer

On your solution sheets prepare: 1) an Income Statement, 2) a Statement of Retained Earnings, and 3) a Balance Sheet. Be sure to label all three parts of the balance sheet! Note: The accounts are in no particular order. Dividends 2,100 20,000 500 Equipment Salary Payable Depreciation Expense Interest Receivable 4,000 200 Revenues 27,000 2,300 Prepaid Rent Expense Accounts Receivable 1,800 1,400 630 5,100 8,000 Accounts Payable Interest Payable Accumulated Depreciation Notes Payable Interest Expense Unearned Revenues Supplies Salary Expense 700 900 500 7,000 Cash 900 Notes Receivable 10,000 Common Stock 10,070 1,000 Retained Earnings Advertising Expense Rent Expense 1,100 4,000
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
