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In: Finance

Debit Credit Cash $157,100 accounts receivable 52,000    interest receivable 21,400 notes receivable (due in 90...

Debit Credit

Cash $157,100
accounts receivable 52,000   
interest receivable 21,400
notes receivable (due in 90 days) 171,500
office supplies 16,000
automobiles 173,000
accumulated depreciation-automobile $85,000
equipment 138,000
accumulated depreciation-equipment 25,000
land 85,000
accounts payable 96,000
interest payable 40,000
salaries payable 17,000
unearned fees 30,000
long term notes payable 154,000
common stock 25,580
retained earnings 230,220
dividends 45,000
fees earned 554,000
interest earned 36,000
interest earned 27,000
depreciation expense-automobiles 18,500
depreciation expense-equipment 183,000
salaries expense 45,000
wages expense 34,000
interest expense 35,600
office supplies expense 64,500
advertising expense 26,200
repairs expense-automobiles
totals    $1,292,800 $1,292,800

Requried

1 A_ prepare the income statement for the year ended December 31,2017?

2.B- prepare the statement of retained earnings for the year ended December 31,2017?

3. C- prepare Chiara company's balance sheet as of December 31,2017?

Solutions

Expert Solution

jeff jeffy answered 4 months ago
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