ACC 290 Week 1 Individual Assignment - Marsh Corporation...

Marsh Corporation began operations on January 1, 2014. The following information is available for Marsh Co
Accounts payable 6,400 9,800
Accounts receivable 3,400 11,400
Advertising expense 4,360 ?
Cash 4,500 27,800
Common stock 16,400 Supplies 3,300
Dividends 3,900 1,340
Equipment 28,200
MARSH CORPORATION
Income Statement
For the Year Ended December 31, 2014
Revenues
Service revenue 27,800
Expenses
Rent Expense 11,400
Advertising Expense 4,360
Supplies Expense 1,340
Total Expenses 17,100
Net Income $10,700.00
MARSH CORPORATION
Retained Earnings Statement
For the Year Ended December 31, 2014
Retained earnings, Jan 1 0
Add: Net Income 10,700
10,700
Less: Dividends 3,900
Retained earnings, Dec 31 6,800
MARSH CORPORATION
Balance Sheet
31-Dec-14
Assets
Cash 4,500
Accounts receivable 3,400
Supplies 3,300
Equipment 28,200
Total assets $39,400.00
Liabilities and Stockholders' Equity
Liabilities
Notes
payable
Rent
expense
Retained
earnings
Service
revenue
Supplies
expense

Notes payable 9800
Account payable 6400
Total liabilities 16200
Stockholder's equity
Common stock 16,400
Retained earnings 6,800
Total stockholders' equity 23,200
Total liabilities and equity 39,400

orporation on December 31, 2014.