For the month of Juły, 2007, Strand Corp had the following information:$10,000.00$100,000.00$40,000.00Accounts receviableRevenuesSalary expense$10,000.00$50,000.00$25,000.00$5,000.00$50,000.00$20,000.00$55,000.00$20,000.00$5,000.00Rent expenseCashAccounts payableBad Debt expenseStockNote payableOffice equipmentUtilities expenseDividendsREQUIRED: In proper form, prepare (1) Income Statement and (2) Balance Sheet

Financial statements are the statements prepared at the end of the reporting period. These are used…

For the month of July, 2007, Strand Corp had the following intormaTion: $10,000.00 $100,000.00 $40,000.00 $10,000.00 $50,000.00 $25,000.00 $5,000.00 $50,000.00 $20,000.00 $55,000.00 $20,000.00 $5,000.00 Accounts receviable Revenues Salary expense Rent expense Cash Accounts payable Bad Debt expense Stock Note payable Office equipment Utilities expense Dividends REQUIRED: In proper form, prepare (1) Income Statement and (2) Balance Sheet

For the month of July, 2007, Strand Corp had the following intormaTion: $10,000.00 $100,000.00 $40,000.00 $10,000.00 $50,000.00 $25,000.00 $5,000.00 $50,000.00 $20,000.00 $55,000.00 $20,000.00 $5,000.00 Accounts receviable Revenues Salary expense Rent expense Cash Accounts payable Bad Debt expense Stock Note payable Office equipment Utilities expense Dividends REQUIRED: In proper form, prepare (1) Income Statement and (2) Balance Sheet

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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