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Accrual Basis Prepare JKL's Income Statement from the data above. (Accrual Method) ...

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Accounting

Accrual Basis
Prepare JKL's Income Statement from the data above. (Accrual Method)
Prepare the Statement of Retained Earnings from the data above. (Accrual Method)
Prepare the Balance Sheet for JKL Co. from the above data. (Accrual Method)
JKL Co. had the following transactions during the month:
a. shareholder deposits $125,000 into JKL Co.'s bank account in exchange for common stock
b. JKL Co. receives a loan from the bank for $75,000
c. JKL Co. bought land for $100,000
d. JKL Co received cash of $10,000 from customers; all services have been provided
e. JKL Co. has $2,000 of sales on account; services have been provided but no cash was paid and the customer will be billed
f. JKL Co. received cash of $5,000 from customers, however no services have been provided yet
g. JKL Co. paid cash dividends of $1,000
Adjustments
a1. the customer from transaction (e) paid $500 towards their bil
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