Question

Problem 1-04A Skysong Inc., a provider of consulting services, was founded on October 1, 2022. At the end of the first month of operations, the company decided to prepare an income statement, retained earnings statement, and balance sheet using the following information. Accounts payable $ 3,700 Supplies $ 2,650 Interest expense 350 Supplies expense 360 Equipment (net) 48,000 Depreciation expense 260 Salaries and wages expense 2,800 Service revenue 19,540 Bonds payable 21,800 Salaries and wages payable 590 Unearned service revenue 4,190 Common stock 9,900 Accounts receivable 1,450 Interest payable 150 Cash 4,000 Using the information, answer the following questions. Prepare an income statement for the month of October 2022. SKYSONG INC. Income Statement choose the accounting period select an opening name for section one enter an income statement item $ enter a dollar amount select an opening name for section two enter an income statement item $ enter a dollar amount enter an income statement item enter a dollar amount enter an income statement item enter a dollar amount enter an income statement item enter a dollar amount select a closing name for section two enter a subtotal amount for section two select a closing name for this statement $ enter a total net income or loss amount Show List of Accounts Link to Text Prepare a retained earnings statement for the month of October 2022. SKYSONG INC. Retained Earnings Statement choose the accounting period select an opening name $ enter a dollar amount select between addition and deduction : select an item enter a dollar amount select a closing name $ enter a total amount Show List of Accounts Link to Text Prepare a balance sheet as of October 31, 2022. (List assets in order of liquidity.) SKYSONG INC. Balance Sheet enter an accounting period Assets enter a balance sheet item $ enter a dollar amount enter a balance sheet item enter a dollar amount enter a balance sheet item enter a dollar amount enter a balance sheet item enter a dollar amount select a closing name for the first part of the balance sheet $ enter a total amount for the first part of the balance sheet Liabilities and Stockholders' Equity select an opening name for section one enter a balance sheet item $ enter a dollar amount enter a balance sheet item enter a dollar amount enter a balance sheet item enter a dollar amount enter a balance sheet item enter a dollar amount enter a balance sheet item enter a dollar amount select a closing name for section one $ enter a subtotal of the two previous amounts select an opening name for section two enter a balance sheet item enter a dollar amount enter a balance sheet item enter a dollar amount select a closing name for section two enter a subtotal of the two previous amounts select a closing name for the second part of the balance sheet $ enter a total amount for the second part of balance sheet Click if you would like to Show Work for this question: Open Show Work Show List of Accounts Link to Text

Answer 1