Question: please help me with this 4 step accounting hw (the transactions scratch sheet, income statement, statement of retained earnings, and the balance sheet). if you're

please help me with this 4 step accounting hw (the transactions scratch sheet, income statement, statement of retained earnings, and the balance sheet). if you're having trouble with a3, remember it doesn't always have two account sometimes they can have three accounts. also it might be easier to use excel for this. THANK YOU I WILL GIVE A THUMBS UP IF THIS CAN BE COMPLETED IN LESS THAN 14 HOURS!
 please help me with this 4 step accounting hw (the transactions
scratch sheet, income statement, statement of retained earnings, and the balance sheet).
if you're having trouble with a3, remember it doesn't always have two
account sometimes they can have three accounts. also it might be easier

***Corporation 4 5. a. you invest $1,000 in the business in exchange for common stock on Jan 1 6 7 b. On Jan. 1 you paid $150 for an insurance premium for general business insurance - 3 month policy 8 9 c company signs a contract to provide services of $5,000; no cash paid today no services performed 11 d. you received $500 for services to be provided later 4 10 12 13 e. you received $1,500 today for services provided 14 15. you received 1/2 of the payment for the contract signed in transaction (c); no services have been provided or started 16 17 8. provided $1,000 of services on account; fees will be billed 18 19 h. Paid $500 for monthly operating expenses 20 21 i. provided $2,500 of services to patients on account; fees will be billed later 22 23 the Company paid dividends to shareholders of $1,000 24 25 26 a1 1 month of prepaid insurance expired 27 28 a2 fees from transaction (s) were billed and paid 29 30 a3 received final payment for contract signed in transaction cand services were completed Company Income Statement Revenue Fees Earned (Sales) Total Revenue Expenses Misc Expense Rent Expense Utilities Expense Supplies Expense Insurance Expense Wages Expense Depreciation Expense Interest Expense Total Expenses Net Income(Loss) XV foc =-Transaction!G24 B C D E H Company Statement of Retained Earnings Retained Earnings May 1, 2015 Add: Net Income Less: Dividends Increase in Retained Earnings Retained Earnings Jan 31, 2016 Transaction El income Stint 12 Stnit of Retained Earnings 3 Balance Company Balance Sheet Assets Cash Accounts Receivable Note Receivable Prepaid Expense Office Equipment Accumulated Depreciation Supplies Land Total Assets Liabilities Accounts Payable Unearned Revenue Wages Payable Note Payable Total Liablities Owner's Equity Capital Stock Retained Earnings Total Owner's Equity Total Liabilities & Owner's Equity check are #1 Income Stmt #2 Stmt of Retained Earnings #3 Balance Sheet

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!