Preparation of financial statements On December 31, 2021, Mian Company's records show the following accounts. Use the following information to prepare: Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, December 1 Dividends Services revenue Wages expense Rent expense Utilities expense $5,100 600 2,000 14,000 $6,000 6,900 4,000 1,000 $16,000 8,000 1,500 700

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
Preparation of financial statements
On December 31, 2021, Mian Company's records show the following accounts. Use the
following information to prepare:
Cash
Accounts receivable
Supplies
Equipment
Accounts payable
Common stock
Retained earnings, December 1
Dividends
Services revenue
Wages expense
Rent expense
Utilities expense
$5,100
600
2,000
14,000
$6,000
6,900
4,000
1,000
$16,000
8,000
1,500
700
Transcribed Image Text:Preparation of financial statements On December 31, 2021, Mian Company's records show the following accounts. Use the following information to prepare: Cash Accounts receivable Supplies Equipment Accounts payable Common stock Retained earnings, December 1 Dividends Services revenue Wages expense Rent expense Utilities expense $5,100 600 2,000 14,000 $6,000 6,900 4,000 1,000 $16,000 8,000 1,500 700
a. An Income Statement for the month ended December 31.
b. A Statement of Retained Earnings for the month ended December 31.
c. A Balance Sheet dated December 31.
2
Transcribed Image Text:a. An Income Statement for the month ended December 31. b. A Statement of Retained Earnings for the month ended December 31. c. A Balance Sheet dated December 31. 2
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Accounting for Long-term liabilities
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education