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Foxy investigative services is an investigative services firm that is owned and operated by Shirley Vickers on November 30th 20Y8 the end of the fiscal year the accountant for fast C investigative services prepare an end of period spreadsheet a part of which follows.
Foxy investigative services
End of period spreadsheet
For year ended November 30, 20y8
~ Adjusted
Account tittle ~ Dr. Cr.
Cash. ~ 28,000
Supplies. ~ 4,500
Prepaid insurance. ~ 2,500
Building. ~ 432,000
Accounts payable ~ 11,100
Salaries payable. ~ 3,300
Unearned rent. ~ 1700
Common stock. ~ 80,000
Dividends. ~ 11,400
Service fees. ~ 707,150
Rent revenue. ~ 11,400
Salaries expense. ~522,100
Rent expense. ~ 45,600
Supplies expense. ~ 10,800
Depreciation expense Building~ 7,200
Utilities expense. ~ 7,150
Repairs expense. ~ 2,700
Insurance expense. ~ 2,500
Miscellaneous expense.~ 5,600
~ 1,151,450. 1,151,450
Required
A. prepare an income statement for the year ended 30, 20y8. If a net loss husband inquired answered that amount as a negative number using a minus sign be sure to complete the statement heading.
B. Prepare a statement of
C. Prepare a
2. Based upon the end of period spreadsheet journalist the closing entries refer to the chart of accounts are exact wording of account titles
3. If retain earnings hat instead decrease $33000 after the closing entries were posted and the dividends remain the same what would have been the amount of net income or net loss if require use of minus sign to indicate a net loss
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