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Use the ending balances from the T-accounts as mentioned to prepare the following financial statements for Tabor Hill as of and for the month ended
Use the ending balances from the T-accounts as mentioned to prepare the following financial statements for Tabor Hill as of and for the month ended February 28, 2011. (Ignore income tax expense.)
Income Statement??
Statement of Stockholders Equity??
Balance Sheet??
Assets*- Liabilities-' Stockholders' Equity-^ + Cash -J -Accounts Payable ++' - Contributed Capital ++ BegBal 3,100 (a)+' 40,000-1 16,000e (f)+' +' +' +' | 250. (i)+' +'+' (c)18,0003,000 (g)250 Endbal- 10,000 BegBal 10,000 ndal 1,000- 9,000 (h)e 500) -Notes Payable ++' - Retained Earnings + 33,600 15,000 EndBal- + Accounts Receivable- - Unearned Revenue ++ Design Revenue +* 20,000- 18,000* (c)^ 40,000* (a)-' 0 EndBal-20,000* (b)*' 1,000- (e)-' EndBa 2,000 (e)- 1,000-1 1,000 (d)^ + Supplies -+J 900 EndBal900 Wage Expense- Prepaid Expenses-J 16.000-1 EndBal 16,000- ^
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