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(Solved): The Following Are The Accounts Of Global Inc., Accounts Payable $ 5,600 Accounts Receivable 7,500 C...
The following are the accounts of Global Inc., |
Accounts Payable $ 5,600 |
Accounts Receivable 7,500 |
Cash 55,700 |
Commissions Expense 215,000 |
Commissions Payable 21,700 |
Commission Sales Revenue 400,000 |
Common Stock 29,000 |
Dividends 33,000 |
Equipment 59,900 |
Income Taxes Expense 27,000 |
Income Taxes Payable 13,000 |
Marketing Expense 20,100 |
Office Rent Expense 36,000 |
Retained Earnings, Dec. 31, 2010 35,300 |
Supplies 700 |
Supplies Expense 2,600 |
Telephone and Computer Expenses 5,100 |
Wages Expense 42,000 |
Question A |
Prepare the income statement, statement of retained earnings, and balance sheet forGlobal, Inc. |
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Expert Answer
INCOME STATEMENT Commission Sales Revenue $400,000 Expenses: Commissions Expense $215,000 Marketing Expense $20,100
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