BE 231
Statement of financial position amounts as of December 31, 2014 for Lori’s Tutoring Service are listed below. Prepare a statement of financial position in good form.
Accounts Payable$ 1,600
Accounts Receivable1,300
Cash800
Share Capital-Ordinary?
BE 232
Identify whether the following items would be reported on the income statement (IS) or statement of financial position (FP).
1.Cash
2.Service Revenue
3.Notes Payable
4.Interest Expense
5.Accounts Receivable
BE 233
Use the following information to calculate for the year ended December 31, 2014 (a) net income (net loss), (b) ending retained earnings, and (c) total assets.
Supplies¥ 1,000Revenues¥21,000
Operating expenses12,000Cash13,000
Accounts payable9,000Dividends1,000
Accounts receivable3,000Notes payable1,000
Beginning retained earnings5,000Equipment6,000