ACC_290 Week one Homework - Do It Review 1-3 Marsh...

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Do It! Review 1-3 Marsh Corporation began operations on January 1, 2014. The following information is available for Marsh Corporation on December 31, 2014. Accounts payable $ 8,520 Notes payable $ 14,040 Accounts receivable 5,520 Rent expense 13,520 Advertising expense 4,300 Retained earnings ? Cash 6,620 Service revenue 32,040 Common stock 18,520 Supplies 5,420 Dividends 6,020 Supplies expense 1,400 Equipment 30,320 Your answer is correct. Prepare an income statement for Marsh Corporation. (List items that increase retained earnings first.) Do It! Review 1-3 Prepare a balance sheet for Marsh Corporation. List assets in order of liquidity.) MARSH CORPORATION Income Statement For the Year Ended December 31, 2014 $ $ Revenues Service Reve 32,040 Expenses Supplies Expe 1,400 Advertising E 4,300 Rent Expense 13,520 MARSH CORPORATION Retained Earnings Statement For the Year Ended December 31, 2014 $ Retained Earnings, January 1 0
Liabilities and Stockholders' Equity $ $ $ $

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