Question: Prepare income statement and balance sheet. Cash 426500 Rent expense 2000 Accumulated depreciation 500 Depreciation 500 Insurance expense 10000 Dividend account 2000 Office supplies 1000...

Question: Prepare income statement and balance sheet.

Cash			426500
Rent expense		2000
Accumulated depreciation			500
Depreciation		500
Insurance expense		10000
Dividend account			2000
Office supplies		1000
Preferred share capital			2500
Drawings		2000
Machinery			2000
Interest payable			3000
Interest expense		3000
Outstanding salary		-	-
Equity share capital			1000
Sales			1500
Utility expense		1000
Telephone expense		500
Furniture		2000
Salaries expense		1500
Accounts receivables		2000
Service revenue			15000
Advertising expense		7000
Office equipment		5000
Unearned revenue			2500
Wages expense		20000
Purchases account		400000
Account payables			1000
Prepaid rent		-	-
Prepaid insurance		-	-


Total		457500	457500

Jun 09, 2022

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