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Global Filter Corp. began operations 2 years ago. Its adjusted account balances at May 31, 2014 are shown below. Global Filter Corp. issued shares worth
Global Filter Corp. began operations 2 years ago. Its adjusted account balances at May 31, 2014 are shown below. Global Filter Corp. issued shares worth $2,500 during May, 2014. Use this information to prepare the following: a. Income statement for the month ended May 31. b. Statement of changes in equity for the month ended May 31. c. Classified balance sheet at May 31. (select one) Income Statement (select one) Account Accounts receivable Accumulated depreciation, boats Accumulated depreciation, building Boats Building. Cash Commissions earned Consulting revenue earned. Copyright Depreciation expense, boats, Depreciation expense, building Dividends Interest earned Interest expense Interest receivable. Land Balance 11,660 2,850 7,470 16,010 12,960 5,400 13,390 13,650 7,810 590 1,540 2,170 1,460 1,750 830 19,300 Interest earned Interest expense Interest receivable Land Long-term notes payable. Long-term investment in shares Mortgage Payable (due February, 2021). Patents Rent earned Rent receivable. Retained earnings Share capital Short-term notes payable. Unearned consulting revenue Unearned rent 1,460 1,750 830 19,300 15,710 8,280 9,680 7,670 4,930 2,550 7,470 9,600 5,990 2,830 3,490 (select one) Statement of Changes in Equity (select one) Share Retained Total Capital Earnings Equity (select one) Balance Sheet (select one)
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