Module 3:
The following are the accounts and their balances as of May 31, 2010 for Smith Construction.
Prepare the trial balance for Smith Construction as of May 31, 2010 listing the accounts in the proper order.
Prepare the Income Statement, Statement of retained earnings and balance sheet for Smith Construction as of May 31.
These statements are for the period March, April, and May. Assume retained earnings starts at a 0 balance .
Account Balance
Repair expense 1,000
Cash 47,240
Tools 1,200
Accounts Payable 0
Supplies 1,500
Common Stock 41,000
Rent Expense 2,000
Equipment 24,000
Dividends 3,900
Accounts receivable 1,080
Salary Expense 10,780
Service Revenue 51,700
Retained Earnings 0