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Balance Sheet and Income Statement

Please see the attached files for full problem description.

Prepare a balance sheet, an income statement and a statement of retained earnings and fill in the cash part
"

Work Sheet

Account title: Debit Credit

Cash ?
Revenue $94,200
Prepaid insurance 1,500
Land 6,000
Buildings and equipment 39,000
Accounts payable 9,700
Amortization 2,500
Cost of goods sold 63,800
Accounts receivable 13,000
Common shares 40,000
Selling and administrative expenses 13,350
Inventory 15,500
Note payable 9,500
Dividends paid 2,000
Rent expense 8,600
Unearned revenue 1,800
Interest expense 1,250
Accumulated amortization $8,000
Retained earnings , March 1,2002 3,300

Totals 166,500 166,500

Attachments

Solution Preview

Please see the attached file.
"please prepare a balance sheet, an income statement and a statement of retained earnings and fill in the cash part please
"

Work Sheet

Account title: Debit Credit

Cash ? $0
Revenue $94,200
Prepaid insurance 1,500
Land 6,000
Buildings and equipment 39,000
Accounts payable 9,700
Amortization 2,500
Cost of goods sold 63,800
Accounts receivable 13,000
Common shares 40,000
Selling and administrative expenses 13,350 ...

Solution Summary

The solution prepares Balance sheet, income statement, and statement of retained earnings using the data provided.

$2.19