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Aakarshan Ltd. had the following account balances at December 31, 2021: Account Name Amount Income tax expense $12,380 Cash (beginning of year) 39,910 Purchase of
Aakarshan Ltd. had the following account balances at December 31, 2021:
Account Name | Amount |
Income tax expense | $12,380 |
Cash (beginning of year) | 39,910 |
Purchase of intangibles | 1,560 |
Website design | 1,500 |
Supplies expense | 1,375 |
Supplies | 3,150 |
Payment of dividends | 7,000 |
Service revenue | 79,480 |
Cash received from debt | 25,000 |
Dividends | 7,000 |
Payments to suppliers | 56,925 |
Retained earnings (beginning of year) | 28,365 |
Bank loan payable, due in 2025 | 25,000 |
Website expense | 1,000 |
Advertising expense | 1,750 |
Owner's capital | 17,500 |
Prepaid insurance | 1,800 |
Contributions by owners | 8,500 |
Business licence | 60 |
Insurance expense | 3,600 |
Interest expense | 1,800 |
Accounts receivable | 52,375 |
Prepaid expenses | 2,700 |
Income tax payable | 2,775 |
Deferred revenue | 2,450 |
Collections from customers | 58,450 |
Accounts payable | 33,845 |
Cash (end of year) | 66,375 |
Salaries expense | 32,550 |
Can You make a single step income statement , statement of retained earnings , balance sheet , and statement of cashflows from the chart above. WILL GIVE RATING QUICK !!
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