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Balance Sheet 3. I Aetaned Eamings had instead docreased $33,000 aser the closing entries nove pested, and the dividends remained the same, what would have been the anount of net income or net hoss? 1A. Prepare an income statement for the year ended November 30,20Y8. Income Statement Instructions Required: 1. A. Prepare an income statement for the year ended November 30,20Yr. B. Prepare a statement of stockholders' equity for the yoar ended November 30,20V8. C. Prepare a balance sheet as of November 30,20Y8. 2. Journalize the entries that were required to close the accounts at November 30,20Yz. No additional combinon stock was issued during the year ended November 30,20re. 3. IH Rotained Earnings had instead decreased $33,000 after the closing entries were posted, and the dividends remained the same, what would have beon the amount of net income or not loss? Foxy Investigative Services is an imvestigative services firm that is owned and operated by Shirley Vickers. On November 30 , zova, the end of the fiscal voar, the accourtant for Foxy Investigative Services prepared an end-d-petiod spreadsheet, a part of which follows: Financial statements and closing entries Balance Sheet 1C. Prepare a balance sheet as of November 30,20Y8. Balance Sheet Instructions Financial statements and closing entries Financial statements and closing entries Instructions Chart of Accounts Labels and Amount Descriptions Income statement Instructions \begin{tabular}{|c|c|c|c|} \hline Salaries Payable & & & 3,300 \\ \hline Unearned Rent & - & & 1,700 \\ \hline Common Stock & - & & 80,000 \\ \hline Retained Earnings & - & & 293,400 \\ \hline Dividends & - & 11,400 & \\ \hline Service Fees & & & 707,150 \\ \hline Rent Revenue & - & & 11,400 \\ \hline Salaries Expense & & 522,100 & \\ \hline Rent Expense & - & 45,600 & \\ \hline Supplies Expense & - & 10,800 & \\ \hline Depreciation Expense-Building & & 7,200 & \\ \hline Utilites Expense & - & 7,150 & \\ \hline Repairs Expense & & 2,700 & . \\ \hline Insurance Expense & - & 2,500 & \\ \hline \multirow[t]{2}{*}{ Miscellaneous Expense } & - & 5,600 & \\ \hline & - & 1,151,450 & 1,151,450 \\ \hline \end{tabular} 2. Joumalize the entries that were required to close the accounts af November 30,20Va. No addilional common stock was issued during the year ended November 30,20r8. General Joumal instructions Financial statements and closing entries Financial statements and closing entries 18. Prepare a statement of stockholders' equity for the year ended November 30, 20Y8. Statement of Stockhalders' Equity instructions Financial statements and closing entries Instructions Chart of Accounts Labels and Amount Descriptions Income Statement Chart of Accounts CHART OF ACCOUNTS Foxy Investigative Services General Ledger ASSETS 11 Cash 12 Accounts Receivable 13 Supplies 14 Prepaid Insurance 17 Building 18 Accumulated Depreciation-Building LIABILITIES 21 Accounts Payable 22 Salaries Payable 23 Unearned Rent EQUITY 31 Common Stock 32 Retained Earnings REVENUE 41 Service Fees 42 Rent Revenue EXPENSES 51 Salaries Expense 52 Rent Expense 53 Supplies Expense 54 Depreciation Expense-Building 55 Utilities Expense 56 Repairs Expense 57 Insurance Expense 59 Miscellaneous Expense Instructions Chart of Accounts Labels and Amount Descriptions Income Statement Chart of Accounts ASSETS 11 Cash 12 Accounts Receivable 13 Supplies 14 Prepaid Insurance 17 Building 18 Accumulated Depreciation-Building LIABILITIES 21 Accounts Payable 22 Salaries Payable 23 Uneamed Rent EQUITY 31 Common Stock 32 Retained Earnings 33 Dividends REVENUE 41 Service Fees 42. Rent Revenue EXPENSES 51 Salaries Expense 52 Rent Expense 53 Supplies Expense 54 Depreciation Expense-Bullding 55 Utilities Expenso 56 Repairs Expense 57 Insurance Expense 59 Miscellaneous Expense x)
