Kinney Company incorporated on May 1, of this year. Below you will find the company's financial data at May 31. Accounts receivable Accounts payable Advertising expense Cash 200 6,780 Investments by owner 10,000 Dividends to owner 1,500 Equipment 5,000 Rent expense Salaries expense Service revenue $860 250 Supplies Utilities expense 350 500 5,680 600 140 Required: Use this information to complete an income statement, statement of retained earnings and balance sheet.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Ee 121.

Kinney Company incorporated on May 1, of this year. Below you will find the company's financial data at May 31.
Accounts receivable
Accounts payable
Advertising expense
Cash
6,780
Investments by owner 10,000
Dividends to owner
1,500
Equipment
5,000
350
500
5,680
600
140
Rent expense
Salaries expense
Service revenue
$860
250
200
Supplies
Utilities expense
Required: Use this information to complete an income statement, statement of retained earnings and balance
sheet.
Transcribed Image Text:Kinney Company incorporated on May 1, of this year. Below you will find the company's financial data at May 31. Accounts receivable Accounts payable Advertising expense Cash 6,780 Investments by owner 10,000 Dividends to owner 1,500 Equipment 5,000 350 500 5,680 600 140 Rent expense Salaries expense Service revenue $860 250 200 Supplies Utilities expense Required: Use this information to complete an income statement, statement of retained earnings and balance sheet.
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