Question: Using the financial data presented below (in alphabetical order) for Security Services Company develop a set of financial statements (Income Statement, Retained Earnings Statement, and

 Using the financial data presented below (in alphabetical order) for Security

Using the financial data presented below (in alphabetical order) for Security Services Company develop a set of financial statements (Income Statement, Retained Earnings Statement, and Balance Sheet) for the year ending December 31, 2016. You must prepare these in accordance with Generally Accepted Accounting Principles. All accounts have a normal balance Account Description Balance Accounts Payable Accounts Receivable Accumulated Depreciation - Buildings Buildings Cash Common Stock Depreciation Expense - Buildings Dividends Insurance Expense Miscellaneous Expense Prepaid Insurance Rent Expense Repairs Expense Retained Earnings Salaries Expense Salaries Payable Service Fees Supplies Supplies Expense Unearned Rent Utilities Expense 15,900 71,600 183,900 330,300 27,300 39,800 9,800 29,800 2,800 10,900 550 54,800 4,050 68,700 434,800 6,400 684,300 3,350 11,650 1,300 8,600

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!