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The following information provided by ABC companies. as of December31, 2019 Accounts Amount Cash 1.400 Revenue 17,000 Accounts Payable 2,000 Accounts Receivable 1,800 Rent Expense 9,000 dividend 600 Supplies Expense 1,200 Notes Payable 5,000 Equipment 16,000 Supplies 4,000 Share Capital   10,000 Retained Earning ?   Instructions (a) Prepare an income statement. (b) Prepare a statement of retained earnings. (c) Prepare a balance sheet.

The following information provided by ABC companies. as of December31, 2019 Accounts Amount Cash 1.400 Revenue 17,000 Accounts Payable 2,000 Accounts Receivable 1,800 Rent Expense 9,000 dividend 600 Supplies Expense 1,200 Notes Payable 5,000 Equipment 16,000 Supplies 4,000 Share Capital   10,000 Retained Earning ?   Instructions (a) Prepare an income statement. (b) Prepare a statement of retained earnings. (c) Prepare a balance sheet.

FINANCIAL ACCOUNTING
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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Question

The following information provided by ABC companies. as of December31, 2019

Accounts

Amount

Cash

1.400

Revenue

17,000

Accounts Payable

2,000

Accounts Receivable

1,800

Rent Expense

9,000

dividend

600

Supplies Expense

1,200

Notes Payable

5,000

Equipment

16,000

Supplies

4,000

Share Capital  

10,000

Retained Earning

?

 

Instructions

(a) Prepare an income statement.

(b) Prepare a statement of retained earnings.

(c) Prepare a balance sheet.

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