Ex. 215
These financial statement items (in thousands) are for Chen Company at year-end, July 31, 2014.
Salaries and wages payable ¥ 4,580Note payable (Non-Current)¥ 3,300
Salaries and wages expense 45,700Cash22,200
Utilities expense 19,100Accounts receivable9,780
Equipment 24,000Accumulated depreciation?equip.6,000
Accounts payable 4,100Dividends4,000
Service revenue 58,100Depreciation expense4,000
Rent revenue 6,500Retained earnings (8/1/2013) 30,000
Share capital-ordinary 16,200
Instructions
(a)Prepare an income statement and a retained earnings statement for the year.
(b)Prepare a classified statement of financial position at July 31, 2014.