Question - The following are the account balances from the Adjusted Trial Balance of SGA Incorporated as of Jan 31, 2010. Use the account balances and Prepare
1. INCOME STATEMENT for the month of January
2- The STATEMENT of RETAINED EARNINGS as of January 31
3- BALANCE SHEET as of January 31.
Cash 60,000
Rent Expense 5,000
Equipment 30,000
Supplies Expense 9,000
Accumulated Depreciation :Equip. 5,000
Salaries Expense 4,000
Unearned Fees 6,000
Utilities Expense 5,000
Interest Receivable 1,000
Retained Earnings, Jan 1 14,000
Supplies 13,000
Insurance Expense 1,000
Accounts Receivable 10,000
Advertising expense 3,000
Unexpired Insurance 3,000
Depreciation expense 1,000
Capital Stock 47,000
Prepaid Rent 60, 000
Dividends 7,000
Fees Earned 130, 000
Accounts Payable 10,000