Andy's Autobody Shop has the following balances at the beginning of September: Cash, $; Accounts Receivable, $; Equipment, $; Accounts Payable, $; Common Stock, $; and Retained Earnings, $
a Signed a longterm note and received a $ loan from a local bank.
b Billed a customer $ for repair services just completed. Payment is expected in days.
c Wrote a check for $ of rent for the current month.
d Received $ cash on account from a customer for work done last month.
e The company incurred $ in advertising costs for the current month and is planning to pay these costs next month.
Required:
Prepare journal entries for the above transactions, which occurred during a recent month.
Prepare an income statement.
Prepare a statement of retained earnings.
Prepare a classified balance sheet.
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Prepare a statement of retained earnings. If there are no dividends, include a line that reports Dividends of zero.
tableANDYS AUTOBODY SHOP,Statement of Retained Earnings,For the month ended September Retained Earnings, September $
