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
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For the month of Juły, 2007, Strand Corp had the following information:
$10,000.00
$100,000.00
$40,000.00
Accounts receviable
Revenues
Salary 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
$5,000.00
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
Transcribed Image Text:For the month of Juły, 2007, Strand Corp had the following information: $10,000.00 $100,000.00 $40,000.00 Accounts receviable Revenues Salary 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 $5,000.00 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
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