Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver

تمرين 45

Preparing financial statements
Photo Gallery, Inc., works weddings and prom-type parties. The balance of Retained earnings was $1.7,000 at December 31, 2011. At December 31, 2012, the business's accounting records show these balances:

Requirements
1. Prepare the following financial statements for Photo Gallery, Inc., for the year ended December 31, 2012:
a. Income statement
b. Statement of retained earnings
c. Balance sheet