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On December 1, 2014, Andrew Martin organized a new company called Zcom Inc. On the last day of that month, the company's records showed the
On December 1, 2014, Andrew Martin organized a new company called Zcom Inc. On the last day of that month, the company's records showed the items listed below. Use this information to prepare the December income statement and statement of changes in equity as well as the balance sheet at December 31 for Zcom Inc. Account Balance a) Complete the income statement using the format provided Accounts payable 63,500 (select one) Accounts receivable 110,000 Income Statement Commissions earned 171.000 (select one) Consulting revenue eamed 81,500 Revenues Dividends 23,500 Furniture 211,000 Total revenues Interest expense 27,500 Expenses Interest payable 24,500 Office supplies expense 75,500 Total expenses Rent earned 62,500 Share capital 74,500 b) Complete the statement of changes in equity using the format provided. Short-term notes payable 85,500 (select one) Utilities expense 115,500 Statement of Changes in Equity (select one) Share Retained Total Capital Earnings Equity X +++ c) Complete the Balance Sheet, (select ono) Balance Sheet (select one) Assets Liabilities N X + Total assets Total liabilities Equity Total equity Total liabilities and equity SUBMIT AND MARK
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