Question

Data Link's completed worksheet at November 30, 2018 is as follows: (Click the icon to view the completed worksheet.) Read the requirements. Requirement 1. Complete the income statement for the month ended November 30, 2018. (Use a minus sign or parentheses to show a net loss. If a box is not used in the statement, leave the box empty; do not select a label or enter a zero.) Data Link Income Statement Month Ended November 30, 2018 Net Income (Loss) Requirement 2. Complete the statement of retained earnings for the month ended November 30, 2018. Assume beginning Retained Earnings was $0. Choose from any list or enter any number in the input fields and then continue to the next question.

Answer 1

9.200 9,200 Data Link Income statement Month Ended November 30,2018 Revenue Service Revenue $ Total revenue Expenses : Depreciation Expense - Equipment $ Salaries Expense $ Rent expense $ Utilities Expense $ Supplies Expense Total Expenses Net Income (Loss) 700 2,200 950 1,000 600 | $ $ 5,450 3,750 Data Link Statement of Retained earnings Month Ended November 30,2018 Retained Earnings November 1, 2018 Add: Net Income $ $ $ $ 3,750 3,750 2,000 1,750 Less:Dividends Retained Earnings November 30, 2018

4,200 4,400 650 3,300 $ 12,550 Data Link Balance Sheet November. 30,2018 Assets Current assets Cash $ Accounts Receivables $ Prepaid Rent $ Office supplies $ Total Current Assets Property. Plant and Equipment Equipment $ Less: Accumulated Depreciation - Equipment $ Net Property, Plant and Equipment Total assets Liabilities and Stockholders' Equity Liabilities Accounts Payable $ Salaries payable $ Total Liabilities Stockholders' Equity Common stock $ Retained Earnings $ Total stockholders' Equity Total Liabilities and Stockholders' Equity 30,300 2,500 $ $ 27,800 40,350 5,700 500 $ 6,200 32,400 1,750 $ $ 34,150 40,350