Please use the above figures for creating an income statement, a retained earnin
ID: 2333955 • Letter: P
Question
Please use the above figures for creating an income statement, a retained earnings statement, and a balance sheet.
On June 1, 2014, Fingers Corporation was started when common stock was issued in exchange for 26,200 of cash. During June, Fingers Corporation paid dividends of $2,000. Below are the corporation's assets and liablities on June 30, 2014 and its revenues and expesnes for the month of June Cash Accounts Receivable Service Revenue Supplies Advertising Expense Equipment Notes Payable Accounts Payable Supplies Expense Gas & Oil Expense Utilities Expense Wage Expense 4,600 4,000 7,000 2,400 400 29,000 12,000 500 1,000 600 300 1,400Explanation / Answer
Income statement :
Retained earnings statement :
Balance sheet :
Revenue Service revenue 7000 Expenses Advertising expense 400 Supplies expense 1000 Gas & oil expense 600 Utilities expense 300 Wages expense 1400 Total expense 3700 Net income 3300