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  • May 30, 2012, 04:37 PM
    raymond5496
    Income statements
    With the info provided please provide an income statement, a retained earnings statement for the mont of June and a balance sheet at June 30, 2012
    On June 1, beardsley service co was started with an initial investment of $22,100 here are the assets and liabilities of the co. at June 30, and the revenues and expenses for the month of June, the first month of operation.

    Cash $4,600
    Acct recievble 4,000
    Service revenue 7,500
    Supplies 2,400
    Advertising expense 400
    Equipment 26,000
    Notes payable $12,000
    Accts payable 500
    Supplies expense 1,000
    Maintenance and repairs expense 600
    Utilites expense 300
    Salaries and wages expense 1,400
  • May 30, 2012, 04:58 PM
    pready
    Your income statement will only contain your revenues and expenses.

    Your retained earnings statement will only contain your capital investments, net income, and dividends.

    Your balance sheet will contain assets, liabilities and owners equity.
  • May 30, 2012, 06:54 PM
    paraclete
    Looks fairly simple what is your answer?

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