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Problem 2 Complete the financial statements given the following information. Where there are question marks, you either need to fill in a title, dollar amount,
Problem 2 Complete the financial statements given the following information. Where there are question marks, you either need to fill in a title, dollar amount, or formula. The correct dollar signs and commas are already there, if you accidently change them, be sure to fix it!!! Cash $ 22,000 AR 4,000 Supplies 3,000 Equipment 6,000 AP 16,000 Common Stock (Jan. 1 Balance) 10,000 Retained Earnings (Jan. 1, 20XX) 5,000 Travel Expense 3,500 Rent Expense 1,500 Salary Expense 3,000 Misc. Expense 1,000 Fees Earned 15,000 Dividends 4,000 In addition to the above, assume that $2,000 in additional common stock was issued during the year (note that the above commons stock and retained earning balances are for the beginning of the year, January 1). Jones Company Income Statement For year ended December 31, 20X2 7 points ? Fees Earned Expenses: ? ? ? ? ? ? ? ? ? Net Income ? Jones Company Statement of Stockhodlers' Equity For year ended December 31, 20X2 9 points Retained Common Stock Earnings Total ? ? ? Balances, January 1, 20X2 ? ? ? ? ? ? ? ? ? ? 2 ? ? Jones Company Balance Sheet December 31, 20XX 10 points Assets ? ? ? ? ? ? ? ? ? ? Liabilities ? ? Stockholders' Equity
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