Accrual Basis
Prepare JKLs Income Statement from the data above. Accrual Method
Prepare the Statement of Retained Earnings from the data above. Accrual Method
Prepare the Balance Sheet for JKL Co from the above data. Accrual Method
JKL Co had the following transactions during the month:
a shareholder deposits $ into JKL Cos bank account in exchange for common stock
b JKL Co receives a loan from the bank for $
c JKL Co bought land for $
d JKL Co received cash of $ from customers; all services have been provided
e JKL Co has $ of sales on account; services have been provided but no cash was paid and the customer will be billed
f JKL Co received cash of $ from customers, however no services have been provided yet
g JKL Co paid cash dividends of $
Adjustments
a the customer from transaction e paid $ towards their bil
