Ex. 208
Use the following accounts and information to prepare, in good form, an income statement and a retained earnings statement, for the month of August and a balance sheet at August 31, 2022 for Pierce Industries.
Accounts payable $ 1,100 Dividends $ 3,000
Accounts receivable 5,400 Insurance expense 1,200
Buildings 63,000 Supplies 1,400
Cash 18,600 Notes payable 3,300
Service revenue 25,700 Rent expense 3,400
Common stock 52,000 Salaries and wages expense 12,000
Retained earnings (beginning) 25,900
PIERCE INDUSTRIES
Income Statement
For the Month Ended August 31, 2022
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Revenues
$