Use the following accounts and information to prepare, an Income Statement, a Retained Earnings Statement, and a Balance Sheet for JTC Industries for the month ended August 31, 2017. Accounts payable 1,100.00 Dividends 3,000.00 Accounts receivable 5,400.00 Insurance expense 1,200.00 Buildings 63,000.00 Supplies 1,400.00 Cash 20,600.00 Notes payable 3,300.00 Service revenue 25,700.00 Rent expense 3,400.00 Common stock 52,000.00 Salaries expense 10,000.00 Retained earnings (beginning) 25,900.00

Use the following accounts and information to prepare, an Income Statement, a Retained Earnings Statement, and a Balance Sheet for JTC Industries for the month ended August 31, 2017. Accounts payable 1,100.00 Dividends 3,000.00 Accounts receivable 5,400.00 Insurance expense 1,200.00 Buildings 63,000.00 Supplies 1,400.00 Cash 20,600.00 Notes payable 3,300.00 Service revenue 25,700.00 Rent expense 3,400.00 Common stock 52,000.00 Salaries expense 10,000.00 Retained earnings (beginning) 25,900.00

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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