statements. E4-17 These financial statement items are for Van Dijk Company NV at year-end, July 31, 2017. Salaries and wages payable $ 2,040 Notes payable (long-term) Salaries and wages expense 50,700 Cash 22,600 Utilities expense Equipment Accounts payable 30,000 4,100 Service revenue 62,000 8,500 25,000 Rent revenue Share capital-ordinary Accounts receivable Accumulated depreciation equip. Dividends Depreciation expense Retained earnings (beginning of the year) $ 1,800 14,200 9,240 Instructions (a) Prepare an income statement and a retained earnings statement for the year. (h) Prepare a classified statement of financial position at July 31. 6,000 3,000 2,400 22,700
statements. E4-17 These financial statement items are for Van Dijk Company NV at year-end, July 31, 2017. Salaries and wages payable $ 2,040 Notes payable (long-term) Salaries and wages expense 50,700 Cash 22,600 Utilities expense Equipment Accounts payable 30,000 4,100 Service revenue 62,000 8,500 25,000 Rent revenue Share capital-ordinary Accounts receivable Accumulated depreciation equip. Dividends Depreciation expense Retained earnings (beginning of the year) $ 1,800 14,200 9,240 Instructions (a) Prepare an income statement and a retained earnings statement for the year. (h) Prepare a classified statement of financial position at July 31. 6,000 3,000 2,400 22,700
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:statements. E4-17 These financial statement items are for Van Dijk Company NV at year-end, July 31,
2017.
Salaries and wages payable $ 2,040 Notes payable (long-term)
Salaries and wages expense
50,700
Cash
Utilities expense
Equipment
Accounts payable
Service revenue
Rent revenue
Share capital-ordinary
22,600
30,000
4,100
62,000
8,500
25,000
Accounts receivable
Accumulated depreciation equip.
Dividends
Depreciation expense
Retained earnings (beginning
of the year)
$ 1,800
14,200
9,240
6,000
3,000
2,400
Instructions
(a) Prepare an income statement and a retained earnings statement for the year.
(b) Prepare a classified statement of financial position at July 31.
22,700
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