Question
The following balance sheet items listed below are available from the records of Yahoo Compnay at December 31, 2021: Yahoo, Inc. List of Accounts December
The following balance sheet items listed below are available from the records of Yahoo Compnay at December 31, 2021: Yahoo, Inc. List of Accounts December 31, 2021
Accounts receivable 300
Prepaid insurance 2,000
Prepaid rent 1,500
Supplies 200
Furniture and fixtures 8,400
Accumulated depreciation: furniture & fixtures 5,200
Accounts payable 6,540
Notes payable 24,000
Salaries payable 1,700
Interest payable 360
Unearned revenue 200
Common stock 4,000
Retained earnings 2,600
Sales revenue 52,000
Insurance expense 6,000
Office rent expense 9,000
Supplies expense 440
Salary expense 48,000
Depreciation expense: furniture and fixtures 1,400
Office and telephone expense 3,000
Internet service expense 4,900
Legal expense 1,500
Interest expense 4,000
Income tax expense 5,000
total 193,200
REQUIRED: Using the information above, complete the following financial statements for the year ended, December 31, 2021 in good form. Points will be deducted if not in good form and proper format.
A. Income statement
B. Statement of Retained Earnings
C. Balance Sheet
D. Computer the Current Ratio (Show work)
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