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Is my financial statement done correctly? Peter's Pool Corporation Income Statement For the Month Ending July 31 Peter's Pool Corporation Statement of Retained Earnings For
Is my financial statement done correctly?
Peter's Pool Corporation Income Statement For the Month Ending July 31 Peter's Pool Corporation Statement of Retained Earnings For the Month Ending July 31 Revenues: Pool Repair Revenue Total Revenue $ 8,900.00 $ 8,900.00 Retained Earnings, July 1 Add: Net Income 3,645 Subtotal Less : Dividends Retained Earnings, July 31 $2,545 Peter's Pool Corporation Expenses: Store Rent Expense Telephone Expense Insurance Expense Repair Supplies Exp. Depreciation Exp. Income Tax Expense Electric Expense Total Expenses 1,100 $ 3,600.00 $ 300.00 $ 400.00 $ 250.00 $ 160.00 95.00 500.00 $ 5,305.00 Balance Sheet July 31 $ $ Net Income $ 3,645.00 Assets: Cash Repair Supplies Prepaid Insurance Repair Equipment Less: Accum. Dep - Repair Equipment. Total Assets $37,700 450 4,400 7.800 (1601 $49.990 Liabilities and Stockholders' Equity Liabilities: Accounts Payable Income Taxes Payable Total Liabilities 7,350 95 7.445 Stockholders' Equity: Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities & Stockholders' Equity 40,000 2,545 42,545 $49,990
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