The following items were taken

The following items were taken from the accounting records of Talecom, Incorporated. The income statement and balance sheet at December 31, 2009 except for the retained earnings balance which is the balance at 1/1/2009:

Accounts Payable $ 52,000

Accounts Receivable $ 7,000

Land 121,000

Advertising Expense 11,000

Cash 108,000

Common Stock 15,000

Rent Expense 20,000

Dividends 1,000

Insurance Expense 5,000

Notes Payable (long‐term) 62,000

Retained Earnings (beg) 52,300

Salaries Expense 22,000

Service Revenue 121,000

Inventory 3,000

Accumulated Depreciation 20,000

Supplies Expense 1,000

Salaries Payable 1,500

Additional Paid In Capital 100,000

Building 100,000

Income tax rate 40%

Prepare an income statement, statement of retained earnings, and balance sheet. Also calculate and interpret Liquidity ratios; solvency ratios.

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more