Problem 1:I will be giving you a list of accounts.

Income Statement, Statement of Retained Earnings and Balance Sheet in good format, labeling the headings and the accounts.For this problem, we won't use numbers but each account should be included in the correct financial statement.

Becky's Deep Sea Fishing Excursions, Inc.

December 31, 2017

Dividends Cash

Accumulated Depreciation - Boats Supplies Expense

Wages Payable

Unearned Revenue

Preferred Stock Net Income, for the year ended December 31, 2017

Boats

Bad Debt Expense

Inventory

Accounts Payable

Rent Expense - Trailers

Common Stock

Fishing Boat

Tours Revenue

Gasoline and oil expense

Accounts Receivable

Prepaid Rent Expense

Retained Earnings, January 1, 2017

Allowance for Doubtful Accounts

Miscellaneous Expense

Cost of Goods Sold

Insurance Expense

Retained Earnings, December 31, 2017

Sales - Bait, rod and reels Wages Expense

How would a balance sheet be drafted?