Question: The following list, in alphabetical order, shows the various items that regularly appear on the financial statements of Maple Park Theatres Corp. The amounts shown
The following list, in alphabetical order, shows the various items that regularly appear on the financial statements of Maple Park Theatres Corp. The amounts shown for balance sheet items are balances as of September 30, 2010 (with the exception of retained earnings, which is the balance on September 1, 2010), and the amounts shown for income statement items are balances for the month ended September 30, 2010.
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Required
1. Prepare an income statement for the month ended September 30, 2010.
2. Prepare a statement of retained earnings for the month ended September 30, 2010.
3. Prepare a balance sheet at September 30, 2010.
4. You have $1,000 to invest. On the basis of the statements you prepared, would you use it to buy stock in Maple Park? Explain. What other information would you want before making a finaldecision?
$17600 6,410 14,500 60,000 50,000 15,230 60,300 23,450 8,400 Accounts payable Accounts receivable Furniture and fixtures Land Notes payable Projection equipment Rent expense -movies Retained earnings Salaries and wages expense 46,490 Ticket sales Water, gas, and electricity 534,000 26,000 20,000 25,000 50,600 73,780 Buildings Capital stock Concessions revenue Cost of concessions sold Dividends paid during the month 95,100 6,700
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1 MAPLE PARK THEATRES CORP INCOME STATEMENT FOR THE MONTH ENDED SEPTEMBER 30 2010 Revenues Ticket sa... View full answer
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