Solution-Income statement for marsh corporation

Income statement for marsh corporation

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Reference no: EM13841061

Problem 1:

Marsh Corporation began operations on January 1, 2014. The following information is available for Marsh Corporation on December 31, 2014.

Accounts payable	$ 9,120	Notes payable	$ 15,240
Accounts receivable	6,120	Rent expense	14,120
Advertising expense	4,270	Retained earnings	?
Cash	7,220	Service revenue	33,240
Common stock	19,120	Supplies	6,020
Dividends	6,620	Supplies expense	1,430
Equipment	30,920

1. Prepare an income statement for Marsh Corporation.

2. Prepare a retained earnings statement for Marsh Corporation.

3. Prepare a balance sheet for Marsh Corporation.

Problem 2:

The statement of financial position for Ruiz Company includes the following accounts (in British pounds): Accounts Receivable £12,500; Prepaid Insurance £3,600; Cash £15,400; Supplies £5,200; and Debt Investments (short-term) £6,700. Prepare the current assets section of the statement of financial position, listing the accounts in proper sequence.

Reference no: EM13841061

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Income statement for marsh corporation

Reference no: EM13841061

Reference no: EM13841061

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