Solution-Prepare an income statement and retained earnings

Prepare an income statement and retained earnings statement

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Reference no: EM13966169

The accounts in the ledger of Dependable Delivery Service contain the following balances on July 31, 2014.

Accounts Receivable	$11,400
Prepaid Insurance	$1,800
Accounts Payable	7400
Maintenance and Repairs Expense	1200
Cash	15940
Service Revenue	15500
Equipment	59360
Dividends	800
Utilities Expense	950
Common Stock	40000
Insurance Expense	600
Salaries and Wages Expense	8400
Notes Payable, due 2017	31450
Salaries and Wages Payable	900
Retained Earnings	5,200 (July 1, 2014)

Instructions

Prepare an income statement and a retained earnings statement for the month of July 2014, and a classified balance sheet for July 31.

Reference no: EM13966169

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Prepare an income statement and retained earnings statement

Reference no: EM13966169

Reference no: EM13966169

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