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only need balance sheet Andy's Autobody Shop has the following balances at the beginning of September. Cash, $11,800; Accounts Receivable, $1,200; Equipment $38,200; Accounts Payable,
only need balance sheet
Andy's Autobody Shop has the following balances at the beginning of September. Cash, $11,800; Accounts Receivable, $1,200; Equipment $38,200; Accounts Payable, $2,300: Common Stock, $20,000; and Retained Earnings. $28,900. a. Signed a long-term note and received a $101,100 loan from a local bank b. Billed a customer $2,400 for repair services just completed. Payment is expected in 45 days. c Wrote a check for $770 of rent for the current month. d. Received $470 cash on account from a customer for work done last month. e. The company incurred $410 in advertising costs for the current month and is planning to pay these costs next month, Required: 1. Prepare journal entries for the above transactions, which occurred during a recent month. 2. Prepare an income statement 3. Prepare a statement of retained earnings 4. Prepare a classified balance sheet Step by Step Solution
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