Question: Requirements 1. Identify each amount shown as an asset, liability, revenue, or expense. 2. Prepare the income statement of Anuk Consulting, Inc., for the year
Requirements 1. Identify each amount shown as an asset, liability, revenue, or expense. 2. Prepare the income statement of Anuk Consulting, Inc., for the year ended December 31, 2018. What is the result of operations for 2018? 3. Assuming the balance in Retained earnings on December 31, 2018, was $37,000, what was the amount of the dividends during the year? Answer by preparing a statement of retained earnings to solve for the dividends. Recall that the business has just completed its first year and has no beginning balance for retained earnings. Print Done - Data table - Office furniture $ 28,000 Rent expense. $ 37,000 Utilities expense.. 10,400 Cash.. 18,800 Accounts payable 8,100 Office supplies 800 Note payable .. Service revenue... 21,500 Salaries expense 50,000 161,000 Salaries payable. 1,000 Accounts receivable 10,500 Property tax expense 2,400 n as Supplies expense 4,200 Equipment. . . 30,000 expe
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