Question

create a balace sheet and income statement acc1	accounts recieveable	6,100
acc2	supplies	1,600
acc3	Unearned Catering Fees		5,250
acc4	accounts payable		3,400
acc5	Common Stock		18,000
acc6	Catering Fees Earned		10,550
acc7	Wages Expenses	4,025
acc8	Delivery van Expense	850
acc9	acc. Dep. Equipment		45
acc10	dep. Expense Equipment	45
acc11	Dividends	2,000
acc12	dep. Expense delivery van	105
acc13	insurance expense	180
acc14	equipment	3,240
acc15	prepaid insurance	1,980
acc16	rent expense	780
acc17	Delivery van	3,780
acc18	prepaid rent	1,560
acc19	wages payable		525
acc20	acc. Dep. Delivery van		105
acc21	supplies expense	3,500
acc22	Cash	8,130
acc23	Totals	37,875	37,875

Answer 1

Income Statement
Revenue
Catering Fees Earned		10,550.00
Expenses
Wages Expenses	4,025.00
Delivery Van Expenses	850.00
Depreciation Expense - Equip.	45.00
Depreciation Expense - Delivery Van	105.00
Insurance Expense	180.00
Rent Expense	780.00
Supplies Expense	3,500.00	9,485.00
Net Income		1,065.00
Balance Sheet
Assets
Current Assets
Cash		8,130.00
Accounts Receivable		6,100.00
Supplies		1,600.00
Prepaid Insurance		1,980.00
Prepaid Rent		1,560.00	19,370.00
Property, Plant & Equipment
Equipment	3,240.00
Acc. Dep. - Equip.	(45.00)	3,195.00
Delivery Van	3,780.00
Acc. Dep. -Delivery Van	(105.00)	3,675.00	6,870.00
Total Assets			26,240.00
Liabilities & Stockholders' Equity
Liabilities
Current Laibilities
Accounts Payable		3,400.00
Unearned Catering Fees		5,250.00
Wages Payable		525.00	9,175.00
Other Liabilities			-
Total Liabilities			9,175.00
Stockholders' Equity
Common Stock		18,000.00
Retained Earnings		(935.00)
Total Stockholders' Equity			17,065.00
Total Liabilities & Stockholders' Equity			26,240.00
Statement of Retained Earnings
Beg. Balance	-
Add: Net Income	1,065.00
Sub-total	1,065.00
Less: Dividend	(2,000.00)
Ending Balance	(935.00)