Balance Sheet, Income Statement, and Retained Earnings
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Please prepare a balance sheet, an income statement and a statement of retained earnings and fill in the cash part.
Accounts payable 930
Accounts receivable 550
Accumulated amortization $7,500
Advertising expenses 1,800
Amortization expense 2,300
Capital Assets 21,000
Capital Stock 10,000
Cash ?
Cost of goods sold 3,750
Current portion of long term debt 550
Dividends 250
Interest expense 2,650
Inventory 1,850
Land 15,000
Long term debt (non current) 13,000
Other expense 1,750
Patents 2,000
Prepaid assets 520
Retained earnings , January 1,2004 7,520
Revenue $16,760
Unearned revenue 300
Wages expense 3,300
Wages payable 525
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Solution Summary
The solution prepares a balance sheet, an income statement and a statement of retained earnings.
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