1. Prepare an income statement, a retained earnings statement, and a balance sheet.
Finders Investigative Services
For the Year Ended June 30, 2016
Fees Earned. $730,000
Salaries Expense $522,100
Rent Expense. $4
1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar
to the one illustrated in Exhibit 4, using the first-in, first-out method.
DATE QUANTITY COST
PE 7-4A Petty cash fund ObJ. 6
Prepare journal entries for each of the following:
a. Issued a check to establish a petty cash fund of $750.
b. The amount of cash in the petty cash fund is $115. Issued a check to replenish the fund, based on the
1. Prepare a multiple-step income statement.
For the Year Ended May 31, 2016
Cost of Merchandise Sold
Sales Salaries Expense