Solution-Prepare in income statement and a statement of

Prepare in income statement and a statement of stockholder

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Reference no: EM132677652

Problem 1: The following were taken from the accounting records of Fly By Night Travel, Inc., a travel agency, as of January 31, 2019. On the forms provided, prepare in Income Statement and a Statement of Stockholder's Equity for the month of January, and a classified Balance Sheet on January 31. Note that $6,000 of the note is due in 2019 and the balance of the note is due in 2020.

Accounts Payable $6,000
Accounts Receivable 19,000
Accumulated Depreciation - Equipment 15,500
Advertising Expense 4,500
Common Stock 24,500
Cash 19,000
Depreciation Expense 6,000
Dividends 3,500
Equipment 45,000
Fees Earned 68,500
Notes Payable 19,000
Retained Earnings, January 1 13,500
Retained Earnings, January 31 ???
Salary Expense 50,000

Reference no: EM132677652

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Prepare in income statement and a statement of stockholder

Reference no: EM132677652

Reference no: EM132677652

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