Prepare a balance sheet as of October 31, 2022. (List assets in order of liquidity.) METLOCK INC. Balance Sheet Assets $ Liabilities and Stockholders' Equity $ %24 24 %24 METLOCK INC. Income Statement For the Month Ended October 31, 2022 Revenues Service Revenue 20500 Expenses Interest Expense -370 Salarles and Wages Expense -2900 Supplles Expense -450 Depreclation Expense -240 Total Expenses 3960 Net Income / (Loss) 16540 eTextbook and Media List of Accounts (a2) Your answer is correct. Prepare a retained eamings statement for the month of October 2022. METLOCK INC. Retained Earnings Statement For the Month Ended October 31, 2022 Retalned Earnings, October 1 Add Net Income / (Loss) 16540 Retalned Earnings, October 31 16540 %24

Prepare a balance sheet as of October 31, 2022. (List assets in order of liquidity.) METLOCK INC. Balance Sheet Assets $ Liabilities and Stockholders' Equity $ %24 24 %24 METLOCK INC. Income Statement For the Month Ended October 31, 2022 Revenues Service Revenue 20500 Expenses Interest Expense -370 Salarles and Wages Expense -2900 Supplles Expense -450 Depreclation Expense -240 Total Expenses 3960 Net Income / (Loss) 16540 eTextbook and Media List of Accounts (a2) Your answer is correct. Prepare a retained eamings statement for the month of October 2022. METLOCK INC. Retained Earnings Statement For the Month Ended October 31, 2022 Retalned Earnings, October 1 Add Net Income / (Loss) 16540 Retalned Earnings, October 31 16540 %24

Name: Metlock Inc., a provider of consulting services, was founded on Octobe
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Description: Metlock Inc., a provider of consulting services, was founded on October 1, 2022. At the end of the first month of operations, the company decided to prepare an income statement, retained earnings statement, and balance sheet using the following infor

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 17BEA: Ernst Companys balance sheet shows total liabilities of 32,500,000, total stockholders equity of...

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Accounts payable	$ 4,200	Supplies	$ 2,560
Interest expense	370	Supplies expense	450
Equipment (net)	49,000	Depreciation expense	240
Salaries and wages expense	2,900	Service revenue	20,500
Bonds payable	21,600	Salaries and wages payable	520
Unearned service revenue	4,110	Common stock	9,600
Accounts receivable	1,200	Interest payable	140
Cash	3,950

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