18) Mandy's Web Design Company has the following account balances on December 31, 2013.
Salary Expense
$500
Cash
$400
Supplies Expense
$300
Insurance Expense
$100
Accounts Payable
$200
Other Expenses
Consulting Revenue
$6,000
Prepare the Income Statement for Mandy's Web Design Company for the month of December.
19) Barry's Bird House Supplies has the following Balance Sheet items:
Wood Supplies
Accounts Receivable
Woodwork Equipment
Common Shares
Identify the classification of each item.
Assets
Liabilities
Shareholders’ Equity
20) The Flower Company's beginning retained earnings are $31,000; sales are $46,800; expenses are $43,500 and dividends paid are $2,800. Calculate the ending retained earnings.
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