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Accounting 2 Pages

Homework Problems

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Title: Homework Problems
Length: 2 pages (550 Words)
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P1-3B, Prepare an income statement, retained earnings statement, and balance sheet; discuss results.

Instructions:
(a)Prepare an income statement and a retained earnings statement for the month of May and a balance sheet at May 31, 2014.

SHAW’S GARDEN

Income Statement

For the Month Ended May 31, 2014

Revenues $ $
Service Revenue

10,400

Expenses
Advertising expenses

1,800


Salaries and wages expense

1,900


Maintenance and repairs expense

2,100


Insurance expense

400


Total expenses

(6,200)

Net income

4,200


$5.00

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