ASSIGNMENT- FINANCIAL STATEMENTS
The following are the account balances from the Adjusted Trial Balance of SGA Incorporated as of Jan 31, 2010.
|
Cash
|
60,000
|
Rent Expense
|
5,000
|
|
Equipment
|
30,000
|
Supplies Expense
|
9,000
|
|
Accumulated Depreciation :Equip.
|
5,000
|
Salaries Expense
|
4,000
|
|
Unearned Fees
|
6,000
|
Utilities Expense
|
5,000
|
|
Interest Receivable
|
1,000
|
Retained Earnings, Jan 1
|
14,000
|
|
Supplies
|
13,000
|
Insurance Expense
|
1,000
|
|
Accounts Receivable
|
10,000
|
Advertising expense
|
3,000
|
|
Unexpired Insurance
|
3,000
|
Depreciation expense
|
1, 000
|
|
Capital Stock
|
47,000
|
Prepaid Rent
|
60, 000
|
|
Dividends
|
7,000
|
Fees Earned
|
130, 000
|
|
Accounts Payable
|
10,000
|
|
|
Use the account balances and Prepare
1. INCOME STATEMENT for the month of January
2- The STATEMENT of RETAINED EARNINGS as of January 31
3- BALANCE SHEET as of January 31.
Attachment:- Assignment.rar