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ASSETS INCREASE: DEBIT DECREASE: CREDIT LIABILITIES INCREASE: CREDIT DECREASE: DEBIT OWNER'S EQUITY INCREASE: CREDIT DECREASE: DEBIT 101 CASH 101 ACCTS PAYABLE 301 COMMON STOCK TRANSACTIONS--ANALYZE EACH ONE AND INSERT THE ENTRIES IN 1 A TRIAL BALANCE WILL BE GENERATED AUTOMATICALLY. I Marlow Corporation issued 100.000 shares of $1.00 par common stock at par receiving cash (See footnote below) 302 HET. EARNINGS 2 The company purchased equipment costing S15.000, paying cash. 3 Operating Expenses were incurred in the amount of $74,000. A total of 22.000 of the expenses were paid in cash; the rest. 552.000, were on account 4 ACCTS RECEIVABLE OPERATIONS SI OPER. EXPENSES 401 SHRVICE REVENUE 110 EQUIPMENT 4 The company earned service revenue in the amount of $112.000, a total of 542,000 was receive in cash; the rest. 570,000, was on account 5 Depreciation was recorded on the equipment, $1.500. DEPR. EXPENSE 6 Marlow calculates its income taxes at the rate of 25%. The income taxes are paid in cash This would be a good moment to prepare the Income statement ACC. DEPR. EQUIP STO INCOME TAX EXPENSE 7 Use the following closing process Service Renee XXX Operating kapene Depreciation Expense Income Tax Expert Retained Earnings X Marlow Corporation Income Statement For Year Ended 12/31/2021 DR CR Total Revner Operating Expenses Depreciation Expres Total Expenses Net Income Before Income Tax Income Tax Expense Net Income Check mo male mural yw med Kurning and har sutrial Pule i infame the collay your EPS on the income Marlow declared and paid 5.10 andend Debit Retained Earnings and credit ca. Create a balance there wing the format shown below 101 CASH 104 ACCT 106 SUPPI 110 EQUII 112 ACCI 201 ACCT 301 COM 302 RETI 401 SERVI 501 OPER SOJ ADVE 504 SALAI 509 DEPR 510 INC. 1 TOTALS In Balance Karnings Per Share Marlow Corporation Halance Sheet 12/31/21 YEN Cash Acces Receivable Equipment Accum. Depr. Total Assets Acets Payable Total Lab Common Stock Retained Earnings Total Stockholders' Equity Total Liab & Stockholders' Equity ASSETS INCREASE: DEBIT DECREASE: CREDIT LIABILITIES INCREASE: CREDIT DECREASE: DEBIT OWNER'S EQUITY INCREASE: CREDIT DECREASE: DEBIT 101 CASH 101 ACCTS PAYABLE 301 COMMON STOCK TRANSACTIONS--ANALYZE EACH ONE AND INSERT THE ENTRIES IN 1 A TRIAL BALANCE WILL BE GENERATED AUTOMATICALLY. I Marlow Corporation issued 100.000 shares of $1.00 par common stock at par receiving cash (See footnote below) 302 HET. EARNINGS 2 The company purchased equipment costing S15.000, paying cash. 3 Operating Expenses were incurred in the amount of $74,000. A total of 22.000 of the expenses were paid in cash; the rest. 552.000, were on account 4 ACCTS RECEIVABLE OPERATIONS SI OPER. EXPENSES 401 SHRVICE REVENUE 110 EQUIPMENT 4 The company earned service revenue in the amount of $112.000, a total of 542,000 was receive in cash; the rest. 570,000, was on account 5 Depreciation was recorded on the equipment, $1.500. DEPR. EXPENSE 6 Marlow calculates its income taxes at the rate of 25%. The income taxes are paid in cash This would be a good moment to prepare the Income statement ACC. DEPR. EQUIP STO INCOME TAX EXPENSE 7 Use the following closing process Service Renee XXX Operating kapene Depreciation Expense Income Tax Expert Retained Earnings X Marlow Corporation Income Statement For Year Ended 12/31/2021 DR CR Total Revner Operating Expenses Depreciation Expres Total Expenses Net Income Before Income Tax Income Tax Expense Net Income Check mo male mural yw med Kurning and har sutrial Pule i infame the collay your EPS on the income Marlow declared and paid 5.10 andend Debit Retained Earnings and credit ca. Create a balance there wing the format shown below 101 CASH 104 ACCT 106 SUPPI 110 EQUII 112 ACCI 201 ACCT 301 COM 302 RETI 401 SERVI 501 OPER SOJ ADVE 504 SALAI 509 DEPR 510 INC. 1 TOTALS In Balance Karnings Per Share Marlow Corporation Halance Sheet 12/31/21 YEN Cash Acces Receivable Equipment Accum. Depr. Total Assets Acets Payable Total Lab Common Stock Retained Earnings Total Stockholders' Equity Total Liab & Stockholders' Equity