Description of this paper

Prepare an income statement and a balance sheet as of December 31, 2007.

Description

solution


Question

These items are taken from the financial statements of ABC Corporation for 2008.;Retained earnings (beginning of year) $31,000;Utilities expense 2,000;Equipment 66,000;Accounts payable 13,300;Cash 17,900;Salaries payable 3,000;Common stock 13,000;Dividends 12,000;Service revenue 82,000;Prepaid insurance 3,500;Repair expense 1,800;Depreciation expense 3,300;Accounts receivable 14,200;Insurance expense 2,200;Salaries expense 37,000;Accumulated depreciation 17,600;Prepare an income statement and a balance sheet as of December 31, 2007.

 

Paper#27153 | Written in 18-Jul-2015

Price : $37
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