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My class program for finance class is indicating I am missing information that makes this question incomplete, I have no idea what information I'm missing.
My class program for finance class is indicating I am missing information that makes this question incomplete, I have no idea what information I'm missing.
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Below is the complete list of accounts of Cobras Incorporated and the related balances. Supplies, $1,000; Buildings, $55,000; Salaries Payable, \$500; Common Stock, \$35,000; Accounts Payable, $2,200; Utilities Expense, $3,700; Prepaid Insurance, \$1,200 Service Revenue, \$19,500; Accounts Receivable, \$4,200; Cash, \$3,500; Salaries Expense, $6,400; Retained Earnings, $27,200. Required: 1. Prepare a preliminary balance sheet for Cobras Incorporated. 2. Prepare a preliminary income statement for Cobras Incorporated. x Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare a preliminary balance sheet for Cobras Incorporated. Below is the complete list of accounts of Cobras Incorporated and the related balances. Supplies, $1,000; Buildings, $55,000; Salaries Payable, \$500; Common Stock, \$35,000; Accounts Payable, \$2,200; Utilities Expense, \$3,700; Prepaid Insurance, \$1,200; Service Revenue, \$19,500; Accounts Receivable, \$4,200; Cash, \$3,500; Salaries Expense, \$6,400; Retained Earnings, \$27,200. Required: 1. Prepare a preliminary balance sheet for Cobras Incorporated. 2. Prepare a preliminary income statement for Cobras Incorporated. x Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare a preliminary income statement for Cobras Incorporated. Note: Amounts to be deducted should be indicated by a minus signStep by Step Solution
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