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Income statement for marsh corporation

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Reference no: EM13841061

Problem 1:

Marsh Corporation began operations on January 1, 2014. The following information is available for Marsh Corporation on December 31, 2014.

Accounts payable

$ 9,120

Notes payable

$ 15,240

Accounts receivable

6,120

Rent expense

14,120

Advertising expense

4,270

Retained earnings

?

Cash

7,220

Service revenue

33,240

Common stock

19,120

Supplies

6,020

Dividends

6,620

Supplies expense

1,430

Equipment

30,920



1. Prepare an income statement for Marsh Corporation.

2. Prepare a retained earnings statement for Marsh Corporation.

3. Prepare a balance sheet for Marsh Corporation.

Problem 2:

The statement of financial position for Ruiz Company includes the following accounts (in British pounds): Accounts Receivable £12,500; Prepaid Insurance £3,600; Cash £15,400; Supplies £5,200; and Debt Investments (short-term) £6,700. Prepare the current assets section of the statement of financial position, listing the accounts in proper sequence.

Reference no: EM13841061

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