Question 2 [50 points] United Corporation began operations 2 years ago. Its adjusted account balances at March 31, 2014 are shown below. United Corporation issued shares worth $13,000 during March, 2014. Use this information to prepare the following: a. Income statement for the month ended March 31. b. Statement of changes in equity for the month ended March 31. c. Classified balance sheet at March 31. (select one) Income Statement (select one) Account Accounts receivable Accumulated depreciation, automobiles Accumulated depreciation, boats Automobiles Boats Bonds Payable (due March, 2022) Cash Commissions earned Depreciation expense, automobiles Depreciation expense, boats Dividends Interest earned Interest expense Land Long-term investment in shares Balance 7,430 1,630 6,940 9,930 17,510 10.090 3,360 16.740 990 1,430 1,060 3,440 3,430 9,190 10,900 (select one) Income Statement (select one) x Account Accounts receivable Accumulated depreciation, automobiles Accumulated depreciation, boats Automobiles Boats Bonds Payable (due March, 2022) Cash Commissions earned Depreciation expense, automobiles Depreciation expense, boats Dividends Interest earned Interest expense Land Long-term investment in shares Mortgage Payable (due March, 2022) Patents Prepaid interest Prepaid rent Property taxes expense Property taxes payable Rent earned Rent expense Rent payable Retained earnings Balance 7,430 1,630 6,940 9,930 17,510 10,090 3,360 16.740 990 1,430 1,060 3,440 3,430 9,190 10,900 12.680 5,420 1,260 4,140 3,640 3,470 11,230 12,550 5,130 10 920 (select one) Statement of Changes in Equity (select one) Share Retained Total Capital Earnings Equity Y L Mortgage Payable (due March, 2022). Patents Prepaid interest Prepaid rent Property taxes expense Property taxes payable. Rent earned Rent expense. Rent payable Retained earnings Salaries expense Salaries payable Share capital Trademark 12.680 5,420 1,260 4,140 3,640 3,470 11.230 12.550 5,130 10,920 7,860 3,510 19,600 5,280 (select one) Statement of Changes in Equity (select one) Share Retained Total Capital Earnings Equity (select one) Balance Sheet (select one)
