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Question
Use the following partial work sheet from Matthews Lanes to prepare its income statement, statement of changes in retained earnings, and a balance sheet
| MATTHEWS LANES Work Sheet For Year Ended June 30 | ||||
| Account | Income Statement | Balance Sheet | ||
| Dr | Cr | Dr | Cr | |
| Cash | 11,275 | |||
| Accounts receivable | 1,750 | |||
| Office supplies | 800 | |||
| Prepaid insurance | 3,400 | |||
| Scoring equipment | 130,000 | |||
| Accumulated depreciation scoring equipment | 21,700 | |||
| Salaries payable | 200 | |||
| Common stock | 20,000 | |||
| Retained earnings | 30,000 | |||
| Dividends | 46,425 | |||
| Bowling revenue | 137,675 | |||
| Depreciation expense scoring equipment | 10,825 | |||
| Salaries expense | 1,800 | |||
| Insurance expense | 200 | |||
| Rent expense | 1,600 | |||
| Office supplies expense | 400 | |||
| Repairs expense | 350 | |||
| Telephone expense | 750 | |||
| Totals | 15,925 | 137,675 | 193,650 | 71,900 |
| Net income | 121,750 | 121,750 | ||
| Totals | 137,675 | 137,675 | 193,650 | 193,650 |
Answer
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Related questions
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Periods
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