presented here are the accounts of golden city barbershop for the year ended decembe 4372978

Presented here are the accounts of Golden City Barbershop for the year ended December 31, 2016. Land ………. $ 5,000 Notes Payable ……. 37,000 Property Tax Expense …. 2,700 Dividends …….. 32,000 Rent Expense ……. 11,000 Salaries Expense …. 61,000 Salaries Payable …. 900 Service Revenue …. 195,000 Office Supplies …. 9,000 Retained Earnings, 12/31/15 .. 49,000 Common Stock …. $ 25,000 Accounts Payable …. 17,000 Accounts Receivable …. 900 Advertising Expense …. 13,000 Building …….. 157,000 Cash ……….. 3,800 Equipment …….. 19,000 Insurance Expense …. 2,500 Interest Expense …. 7,000 Requirements 1. Prepare Golden City Barbershop’s income statement. 2. Prepare the statement of retained earnings. 3. Prepare the balance sheet. View Solution:
Presented here are the accounts of Golden City Barbershop for

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