These items are taken from the financial statements of Sheffield Corporation for 2022. ...
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Accounting
These items are taken from the financial statements of Sheffield Corporation for 2022.
| Retained earnings (beginning of year) |
| $34,870 |
| Utilities expense |
| 2,180 |
| Equipment |
| 69,870 |
| Accounts payable |
| 19,960 |
| Cash |
| 11,460 |
| Salaries and wages payable |
| 4,110 |
| Common stock |
| 12,000 |
| Dividends |
| 12,000 |
| Service revenue |
| 70,780 |
| Prepaid insurance |
| 4,610 |
| Maintenance and repairs expense |
| 1,620 |
| Depreciation expense |
| 3,370 |
| Accounts receivable |
| 13,360 |
| Insurance expense |
| 2,430 |
| Salaries and wages expense |
| 39,780 |
| Accumulated depreciationequipment |
| 18,960 |
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Your answer is correct.
Prepare an income statement for the year ended December 31, 2022. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
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For the Year Ended December 31, 2022 Retained Earnings Statement
| ||
| select an opening name for section one
xxxxxxx xxxxxxx xxxxxxxx xxxxxxxxxx xxxxxxxxx xxxxxxxxx xxxxxxxxx xxxxxxxx |
|
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| xxxxxxxxxxxxxxxxx |
| $$$$$$$$$$ |
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