ACC290_WileyPlus_Week1 - Do It Review 1-3 Marsh Corporation...

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Do It! Review 1-3Marsh Corporation began operations on January 1, 2014. The following information is available for Marsh Corporation on December 31, 2014.Accounts payable$ 7,670Notes payable$ 12,340Accounts receivable4,670Rent expense12,670Advertising expense4,180Retained earnings?Cash5,770Service revenue30,340Common stock17,670Supplies4,570Dividends5,170Supplies expense1,520Equipment29,470Your answer is correct.Prepare an income statement for Marsh Corporation.(List items that increase List assets in order of liquidity.)MARSH CORPORATIONDecember 31, 2014MARSH CORPORATIONIncome StatementFor the Year Ended December 31, 2014$$$RevenuesService Revenue30340ExpensesSupplies Expense15201837011970MARSH CORPORATIONRetained Earnings StatementFor the Year Ended December 31, 2014$: : $Retained Earnings, January 10AddNet Income / (Loss)1197011970LessDividends5170Retained Earnings, December 316800

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