Question
John Doe started his business, Copy Specialties, Inc., on January 5, 2021. The following information was obtained from the accounts of the company as of
John Doe started his business, Copy Specialties, Inc., on January 5, 2021. The following information was obtained from the accounts of the company as of January 31, 2021. In the space provided, please prepare, in proper form, an Income Statement, Statement of Stockholder's Equity and Balance Sheet (unclassified) for the month ending January 31, 2021. You must solve for the supply value and provide at least 2 observations on profitability and 2 observations on liquidity. Rent Expense 2,000 Common Stock 20,000 Cash 2,000 Accounts Payable 3,000 Dividends 2,500 Utilities Expense 1,200 Service Revenue 9,000 Land 18,000 Accounts Receivable 2,000 Supplies ? Supplies Expense 600
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