Reference no: EM133149322
Question - On May 31, 2012, Deana's Services Company had account balances as follows:
Accounts Payable 9,900
Accounts receivable 26,950
Cash Fees earned 1,390
Insurance expense 70,800
Building 225,000
Accumulated depreciation 75,000
Land 174,400
Miscellaneous expense 1,510
Prepaid insurance 2,000
Short-term mortgage payable 20,000
Long-term mortgage payable 230,000
Rent expense 8,000
Salary expense 35,300
Dividends 15,100
Supplies 950
Supplies expense 825
Utilities expense 3,800
Capital stock 81,000
Retained earnings (beginning balance on May 1, 2012) 20,000
Required - Present, in good form, (a) an income statement for May, (b) a statement of stockholders equity as of May 31, and (c) a classified balance sheet as of May 31, showing current assets, fixed assets, current liabilities, long term liabilities, stockholders' equity.