After analyzing the data prepare an income statement and a, Ask an Expert

Accounting

The following information relates to Linda Stanley Co. for the year 2008.

Retained earnings, January 1, 2008 $ 48,000 Advertising expense $ 1,800
Dividends during 2008 6,000 Rent expense 10,400
Service revenue 62,500 Utilities expense 3,100
Salaries expense 30,000

Instructions:

After analyzing the data, prepare an income statement and a retained earnings statement for the year ending December 31, 2008.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M992095

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