I am trying to build the income statement and statement of stockholders equity from the following information: Prestige Inc. Account balances As at January 31, 2020 Cash - Debit 8,000 Accounts receivable - Debit 6,500 Equipment - Debit 78,000 Accumulated Depreciation - Credit 14,000 Notes Payable - Credit 10,000 Common Stock -Credit 43,000 Retained Earnings - Credit 20,600 Dividends - Debit 8,000 Service Fees Earned - Debit 75,000 Rent Expense - Debit 18,000 Salaries Expense - Debit 37,100 Depreciation Expense - Debit 7,000 Revenue Expenses
I am trying to build the income statement and statement of stockholders equity from the following information: Prestige Inc. Account balances As at January 31, 2020 Cash - Debit 8,000 Accounts receivable - Debit 6,500 Equipment - Debit 78,000 Accumulated Depreciation - Credit 14,000 Notes Payable - Credit 10,000 Common Stock -Credit 43,000 Retained Earnings - Credit 20,600 Dividends - Debit 8,000 Service Fees Earned - Debit 75,000 Rent Expense - Debit 18,000 Salaries Expense - Debit 37,100 Depreciation Expense - Debit 7,000 Revenue Expenses
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter15: Investments And Fair Value Accounting
Section: Chapter Questions
Problem 18E
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Hello,
I am trying to build the income statement and statement of
Prestige Inc. | |
Account balances | |
As at January 31, 2020 | |
Cash - Debit | 8,000 |
Accounts receivable - Debit | 6,500 |
Equipment - Debit | 78,000 |
Accumulated |
14,000 |
Notes Payable - Credit | 10,000 |
Common Stock -Credit | 43,000 |
|
20,600 |
Dividends - Debit | 8,000 |
Service Fees Earned - Debit | 75,000 |
Rent Expense - Debit | 18,000 |
Salaries Expense - Debit | 37,100 |
Depreciation Expense - Debit | 7,000 |
Revenue | |
Expenses |
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