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Extend Your Skills EA2-E1 Create Financial Statements for Frozen Fractals Corp. in this exercise, you will create an income statement statement of owner's equity, and

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Extend Your Skills EA2-E1 Create Financial Statements for Frozen Fractals Corp. in this exercise, you will create an income statement statement of owner's equity, and balance sheet in Excel for Frozen Fractals Corp. With the exception of the Jacqueline Elise, Capital account (the balance for which is from 12/1/2016), the company had the following account balances as of 12/31/2016 Accounts Payable Accounts Receivable Auto Expense Cash $6,000 $4,100 $9,400 $61,000 $8,000 $73,200 $3,000 Land Office Expense Rent Revenue Sales Revenue Supplies Expense Telephone Expense Utilities Expense $27,000 $4,000 $8,500 $41,000 $2,500 $6,100 $3,600 Furniture Jacqueline Elise, Capital - 12/1/2016 Jacqueline Elise, Drawing When creating the financial statements, be certain to use the techniques from this chapter to present each in good form

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GAO Financial Audit Manual Volume 3 June 2018

Authors: United States Government GAO

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