29 Jun Question Exercise 4-17
Question
Exercise 4-17
These financial statement items are for Emjay Company at year-end, July 31, 2014.
Salaries and wages
payable $1,963 Notes payable (long-term) $1,659
Salaries and wages
expense 51,129 Cash 14,292
Utilities expense 22,944 Accounts receivable 9,644
Equipment 31,457 Accumulated depreciationequip.
5,606
Accounts payable 4,775 Dividends 3,500
Service revenue 62,759 Depreciation expense 4,480
Rent revenue 8,404 Retained earnings
(beginning of the year) 22,980
Common stock 29,300
1. Prepare an income statement for the year.
2. Prepare a Retained Earnings statement for the year.
3. Prepare a classified balance sheet at July 31
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