2) Please Prepare a properly formated Profit and Loss Statement, Retained Eamings Statement and Balance Sheet from the following items: (In order for your Balance Sheet to Balance you will have to calculate ending Retained Eamings) Cash 163,000.00 Accumulatod Deprociation 3,400,000.00 Accounts Payable 1,210,000.00 Retained Earnings, Beginning 255,000.00 Salary Expense 450,000.00 Land %2$ %24 Sales Revenue Cost of Goods Sold Selling Expense nventory Advertising Expense Depreciation Expense Accounts Receivable Marketing Expense Equipment Wages Payable 145,000.00 230,000.00 326,000.00 725,000.00 25,000.00 365,000.00 25,000.00 250,000.00 %24 %24 50,000.00 Bank Loan Payable - Current 75,000.00 Prepaid Assets 343,000.00 Common Stock 85,000.00 General and Administrative expense 375,000.00 Dividends 65,000.00 Building %24 %24 24 %24 %24 240,000.00 15,000.00 775,000.00

2) Please Prepare a properly formated Profit and Loss Statement, Retained Eamings Statement and Balance Sheet from the following items: (In order for your Balance Sheet to Balance you will have to calculate ending Retained Eamings) Cash 163,000.00 Accumulatod Deprociation 3,400,000.00 Accounts Payable 1,210,000.00 Retained Earnings, Beginning 255,000.00 Salary Expense 450,000.00 Land %2$ %24 Sales Revenue Cost of Goods Sold Selling Expense nventory Advertising Expense Depreciation Expense Accounts Receivable Marketing Expense Equipment Wages Payable 145,000.00 230,000.00 326,000.00 725,000.00 25,000.00 365,000.00 25,000.00 250,000.00 %24 %24 50,000.00 Bank Loan Payable - Current 75,000.00 Prepaid Assets 343,000.00 Common Stock 85,000.00 General and Administrative expense 375,000.00 Dividends 65,000.00 Building %24 %24 24 %24 %24 240,000.00 15,000.00 775,000.00

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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