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Q4. On May 31, 2020, Earth and Moon LLP had account balances as provided below. Present in good form, (a) an income statement (b)
Q4. On May 31, 2020, Earth and Moon LLP had account balances as provided below. Present in good form, (a) an income statement (b) a statement of stockholder's equity and (c) a classified balance sheet. Accounts payable Accounts receivable Cash Fees earned Insurance expense Building $ 8,800 16,950 81,390 95,800 1,475 155,000 Accumulated depreciation 75,000 Land 130,000 Miscellaneous expense 2,110 Prepaid insurance 5,000 Short-term mortgage payable 20,000 Long-term mortgage payable 150,000 Rent expense 7,000 Salary expense 30,000 Dividends Supplies Supplies expense Utilities expense 15,100 1,950 1,825 2,800 Capital stock 81,000 Retained earnings (beginning balance on May 1, 2012) 20,000
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