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Question # 1: (10 points) At December 31, 2019, Omran Co. financial records shows the following accounts and amounts. Cash $10,000 Accounts receivable 9,000 Supplies
Question # 1: (10 points) At December 31, 2019, Omran Co. financial records shows the following accounts and amounts. Cash $10,000 Accounts receivable 9,000 Supplies 6,000 Equipment 5,000 Accounts payable 7,000 Unearned consulting revenue 4,000 Share capital - ordinary 13,000 Retained earnings, Dec. 31, 2018 4,000 Retained earnings, Dec. 31, 2019 6,000 Dividends 13,000 Consulting revenue 33,000 Rental revenue 22,000 Supplies expense 8,000 Salaries expense 12,000 Rent expense 10,000 Supplies expense 2,000 Selling and administrative expenses 8,000 Required: Prepare the income statement, retained earnings statement and a St. financial position
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