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    Balance Sheet and Income Statement

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    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

    © BrainMass Inc. brainmass.com February 24, 2021, 2:38 pm ad1c9bdddf
    https://brainmass.com/business/financial-statements/balance-sheet-income-statement-33714

    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

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