Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mondrian Company show the following balances. Prepare an income statement, statement of retained earnings and a balance sheet. cash 14,900 accounts receivable 6,200 supplies 8,400

Mondrian Company show the following balances. Prepare an income statement, statement of retained earnings and a balance sheet.
cash 14,900
accounts receivable 6,200
supplies 8,400
equipment 15,900
accounts payable 2,400
common stock 22,000
Retained earnings, December. 31, Year 1 15,900
Retained earnings, December 31, Year 2 7,200
Owner Draw 14,200
Consulting revenue 45,200
rental revenue. 17,400
salaries expense 18, 500
rent expense 16,700
selling and administrative expenses 8,100
Mondrain Income Statement Year 2
Total Revenue ?
Expenses ?
Total Expenses ?
Net Income (Revenue-Expense) ?
Armani Company Statement of Retained Earnings Dec 31, Year 2
Retained earnings Dec 31, Year 1
Add Net income ?
Less owner draw ?
retained earnings Dec 31, Year 2
Mondrain Company Balance Sheet Dec 31, Year 2
Assets ?
Liabilities ?
Total Liabilities ?
Equity ?
Total Equity?
Total Assets ?
Total liabilities and equity?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accountability Of Local Authorities In England And Wales, 1831-1935 Volume 1

Authors: Hugh Coombs, J. R. Edwards

1st Edition

1138965758, 9781138965751

More Books

Students also viewed these Accounting questions

Question

What characteristics must answers to questions possess?

Answered: 1 week ago

Question

your ultimate goal upon graduation (i.e., career goals).

Answered: 1 week ago