Reference no: EM132635671
Question - These financial statement items are for Emjay Company at year-end, July 31, 2014.
Salaries and wages payable $ 2,080 Notes payable (long-term) $ 1,800
Salaries and wages expense 50,700 Cash 14,200
Utilities expense 22,600 Accounts receivable 9,180
Equipment 30,000 Accumulated depreciation-equip. 6,000
Accounts payable 4,100 Dividends 3,000
Service revenue 62,000 Depreciation expense 2,500
Rent revenue 8,500 Retained earnings (Beginning) 22,700
Common stock 25,000
Instructions -
(a) Prepare an income statement and a retained earnings statement for the year.
(b) Prepare a classified balance sheet at July 31.
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