Cash Basis
Prepare GHI's Income Statement from the data above. Cash Method
Prepare a Statement of Retained Earnings from the data above. Cash Method
Prepare a Balance Sheet for GHI Co from the above data. Cash Method
GHI Co had the following transactions during the month:
a shareholder deposits $ into GHI Cos bank account in exchange for common stock
b GHI Co received $ from customers for sales; services have been provided
c GHI Co received $ from customers for sales; services have not been provided
d GHI Co paid monthly expenses; $ for rent and $ for wages
e GHI Co paid dividends of $
f GHI Co had sales to customers on account credt $; no cash was paid and customers will be billed
g customers from transaction f received their bill and paid GHI $
