Home / Questions / Riley Incorporated reports the following amounts at the end of the year
Riley Incorporated reports the following amounts at the end of the year:
|
Cash |
$ 3,200 |
|
Service Revenue |
$ 92,500 |
|
Buildings |
60,000 |
|
Salaries Expense |
72,800 |
|
Accounts Payable |
8,500 |
|
Equipment |
72,000 |
|
Interest Expense |
4,000 |
|
Supplies |
6,400 |
|
Advertising Expense |
11,300 |
|
Notes payable |
40,000 |
In addition, the company had common stock of $65,000 at the beginning of the year and issued an additional $5,000 during the year. The company also had retained earnings of $20,700 at the beginning of the year and paid dividends of $2,000 during the year. Prepare the income statement, statement of stockholders’ equity, and balance sheet.
Jan 25 2020 View more View Less
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