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prepare an Income Statement and Balance Sheet. Balance Account Name Db Cr Accounts Payable 3,000 Accounts Receivable 5,000 Accrued Expenses 15,000 Accumulated Depr. Equipment 5,000
prepare an Income Statement and Balance Sheet.
Balance | |||
Account Name | Db | Cr | |
Accounts Payable | 3,000 | ||
Accounts Receivable | 5,000 | ||
Accrued Expenses | 15,000 | ||
Accumulated Depr. Equipment | 5,000 | ||
Building | 100,000 | ||
Capital Stock | ####### | ||
Cash | 50,000 | ||
Cost of Goods Sold | 10,000 | ||
Equipment | 50,000 | ||
Income Tax Payable | 1,000 | ||
Land | 50,000 | ||
Long Term Debt | 75,000 | ||
Long Term Investments | 100,000 | ||
Marketing Expenses | 8,000 | ||
Merchandise Inventory | 2,500 | ||
PrePaid Expenses | 3,000 | ||
Rent Expenses | 1,500 | ||
Research & Development Expense | 2,000 | ||
Retained Earnings | 18,500 | ||
Salary Expenses | 5,000 | ||
Sales | 25,000 | ||
Sales Expenses | 5,000 | ||
Travel Expenses | 500 | ||
$392,500 | ####### |
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