Ridge Corporation engaged in the following activities during the year: Service Revenue, $26,400; Rent Expense, $2,400; Wages

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Ridge Corporation engaged in the following activities during the year: Service Revenue, $26,400; Rent Expense, $2,400; Wages Expense, $16,540; Advertising Expense, $2,700; Utilities Expense, $1,800; and Dividends, $1,400. In addition, the year-end balances of selected accounts were as follows: Cash, $3,100; Accounts Receivable, $1,500; Supplies, $200; Land, $2,000; Accounts Payable, $900; and Common Stock, $2,000. In proper format, prepare the income statement, statement of retained earnings, and balance sheet for Ridge Corporation (assume the year ends on December 31, 20x3). E-14

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Financial Accounting

ISBN: 9780618310746

8th Edition

Authors: Belverd E. Needles Jr,, Marian Powers

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