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Baiman Corporation commences operations at the beginning of January. It provides its services on credit and bills its customers $30,000 for January sales. Its employees

Baiman Corporation commences operations at the beginning of January. It provides its services on credit and bills its customers $30,000 for January sales. Its employees also earn January wages of $12,000 that are not paid until the first of February. Complete the following statements for the month-end of January.

Sales $Answer
Wages Expense Answer
Net Income (Loss) $Answer

Cash $8,000
Accounts Receivable Answer
Total Assets $Answer
Wages Payable $Answer
Common Stock 8,000
Retained Earnings Answer
Total Liabilities and Equity $Answer

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