Click a Pix Photography works weddings and prom-type parties. The balance of retained earnings was..
Click a Pix Photography works weddings and prom-type parties. The balance of retained earnings was $26,000 at December 31, 2015. At December 31, 2016, the business’s accounting records show these balances: Insurance Expense ……. $ 11,000 Cash …………. 40,000 Accounts Payable ……. 6,000 Advertising Expense ……. 3,200 Service Revenue ……. 95,000 Dividends ……….. 10,000 Accounts Receivable ……. $ 12,000 Notes Payable ……….. 9,000 Retained Earnings, Dec. 31, 2016 … ? Salaries Expense ……. 20,000 Equipment ……….. 73,800 Common Stock ……. 34,000 Prepare the following financial statements for Click a Pix Photography for the year ended December 31, 2016: a. Income statement. b. Statement of retained earnings. c. Balance sheet. View Solution:
Click a Pix Photography works weddings and prom type parties The