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Please Prepare Income Satement, Satement of Retained Earnings and Balance Sheet. begin{tabular}{lrr} & multicolumn{1}{c}{ Debit } & multicolumn{1}{c}{ redit } Cash & 82,450 &
Please Prepare Income Satement, Satement of Retained Earnings and Balance Sheet.
\begin{tabular}{lrr} & \multicolumn{1}{c}{ Debit } & \multicolumn{1}{c}{ redit } \\ Cash & 82,450 & \\ Account receivables & 12,750 & \\ Supplies & 1,700 & \\ Prepaid lease & 25,712 & \\ Equipment & 93,500 & \\ Accumulated depreciation - equipment & & 4,420 \\ Note payable & & 7,650 \\ Account payable & & 29,750 \\ Salaries and wages Payable & & 6,545 \\ Interest payable & & 64 \\ Share Capital - Ordinary & 1,700 & \\ Dividends & & 6,800 \\ Rent payable & & 86,700 \\ Service Revenue & 5,950 & \\ Supplies expense & 4,420 & \\ Depreciation expense & 2,338 & \\ Lease expense & 6,545 & \\ Salaries and wages expense & 6,800 & \\ Rent expense & 2,550 & \\ Miscellaneous Expense & 64 & \\ Interest expense & 10,200 & \\ Advertising expenses & 256,679 & 256,679 \\ \hline \end{tabular}Step by Step Solution
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