Reference no: EM131782561

Problem -

Coke Industries - Account Balances for the month ended January 31, 2008

Accounts payable                    $ 4,100        Dividends                          $ 5,000

Accounts receivable                 9,000           Insurance expense            3,200

Buildings                                 55,000         Supplies                           1,200

Cash                                       4,500          Notes payable                   5,300

Revenues                                52,700        Rent expense                    7,400

Accumulated depreciation         12,500        Inventory                          12,500

Common stock                        52,000        Salaries expense                15,000

Retained earnings (beginning)   10,700       Patents                              2,250

Prepaid expense                      300            Long-Term invest.              8,500

Salaries payable                      1,900         Utilities expense                 4,500

Advertising expense                 6,000         Travel expense                  4,850

Instructions - Use the following accounts and information to prepare, in good form, an income statement, a retained earning statement, and a balance sheet for Coke Industries for the month ended January 31, 2008.