Question

Do It! Review 1-3 (Part Level Submission) Marsh Corporation began operations on January 1, 2014. The following information is available for Marsh Corporation on December 31, 2014. 16,380 14,690 Accounts payable Accounts receivable Advertising expense Cash Common stock Dividends Equipment 9,690 Notes payable 6,690 Rent expense 4,490 7,790 19,690 7,190 31,490 Retained earnings Service revenue Supplies Supplies expense 34,380 6,590 1,210

Answer 1

All amounts in $ Marsh Corporation Balance Sheet December 31, 2014 Assets Cash Accounts Receivable Supplies Equipment Total assets 7,790 6,690 6,590 31,490 $52,560 Liabilities and Stockholders' Equity Liabilities Notes Payable Accounts Payable Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 16,380 9,690 26,070 19,690 6,800 26,490 $52,560

Marsh Corporation Statement of Retained Earnings For the Year ending Dec 31, 2014 Retained Earnings as on Jan 1, 2014 $ Add: Net Income Less: Dividends Declared $ 13,990 S (7,190 Retained Earnings as on Dec 31, 2014 $ 6,800