Reference no: EM131584832

Question - The following are the account balances from the Adjusted Trial Balance of SGA Incorporated as of Jan 31, 2010. Use the account balances and Prepare

1. INCOME STATEMENT for the month of January

2- The STATEMENT of RETAINED EARNINGS as of January 31

3- BALANCE SHEET as of January 31.

Cash 60,000

Rent Expense 5,000

Equipment 30,000

Supplies Expense 9,000

Accumulated Depreciation :Equip. 5,000

Salaries Expense 4,000

Unearned Fees 6,000

Utilities Expense 5,000

Interest Receivable 1,000

Retained Earnings, Jan 1 14,000

Supplies 13,000

Insurance Expense 1,000

Accounts Receivable 10,000

Advertising expense 3,000

Unexpired Insurance 3,000

Depreciation expense 1,000

Capital Stock 47,000

Prepaid Rent 60, 000

Dividends 7,000

Fees Earned 130, 000

Accounts Payable 10,000