Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Presented here are the accounts of Pembroke Bookkeeping Company Pembroke Bookkeeping Company for the year ended December 31, 2018 Land $5,000 Common Stock $28,000 Notes

Presented here are the accounts of Pembroke Bookkeeping Company Pembroke Bookkeeping Company for the year ended December 31, 2018

Land

$5,000


Common Stock

$28,000

Notes Payable

37,000


Accounts Payable

15,000

Property Tax Expense

3,400


Accounts Receivable

1,100

Dividends

36,000


Advertising Expense

19,000

Rent Expense

11,000


Building

173,100

Salaries Expense

62,000


Cash

4,000

Salaries Payable

1,600


Equipment

16,000

Service Revenue

215,000


Insurance Expense

2,700

Office Supplies

11,000


Interest Expense

7,300

Retained Earnings, Dec. 31, 2017

55,000



Requirements

1.

Prepare Pembroke Bookkeeping Company's income statement.

2.

Prepare the statement of retained earnings.

3.

Prepare the balance sheet.

Step by Step Solution

3.30 Rating (159 Votes )

There are 3 Steps involved in it

Step: 1

1income statement Pembroke Bookkeeping Companys INCOME STATEMENT for the year ended December 2018 se... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Horngrens Financial And Managerial Accounting The Financial Chapters

Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura

6th Edition

978-0134486840, 134486838, 134486854, 134486846, 9780134486833, 978-0134486857

More Books

Students also viewed these Accounting questions

Question

What applied experiences do you have? (For Applied Programs Only)

Answered: 1 week ago

Question

What is the closing process?

Answered: 1 week ago