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Just need the Income income statement, statement of retained earnings, balance sheet and the statement of cash flows Orange Ltd. had the following account balances
Just need the Income income statement, statement of retained earnings, balance sheet and the statement of cash flows
Orange Ltd. had the following account balances at December 31, 2021: Account Name Amount Repair expense $1,375 Advertising expense 8001 Prepaid expenses 1,200 Dividends 3,675 Purchase of intangibles 900 Cash (end of year) 52,250 Deferred revenue 1,375 Owner's capital 24,000 Accounts payable 18,625 Prepaid insurance 1,800 Collections from customers 45,650 Insurance expense 2,300 Contributions by owners 15,000 Accounts receivable 22,075 Cash (beginning of year) 6,775 Retained earnings (beginning of year) 3,700 Interest expense 750 Business licence 601 Payment of dividends 3,675 Website design 840 Service revenue 17,450 Cash received from debt 25,000 Income tax expense 2,600 Supplies 1,125 Supplies expense 350 Payments to suppliers 35,600 Bank loan payable, due in 2025 25,000 Website expense 650 Income tax payable 1,700 Using the above information create the following: income statement, statement of retained earnings, balance sheet and the statement of cash flows. Then use the information to answer the following questionsStep by Step Solution
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