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Question & Answer: Anchor House Realtors, Inc. prepared the following random list of assets, liabilities, revenues, and expenses from its…..

15. (40 points) Anchor House Realtors, Inc. prepared the following random list of assets, liabilities, revenues, and expenses from its December 31, 2014 year end accounting records. Prepare the Income Statement, Statement of Retained Earnings and the CLASSIFIED Balance Sheet for Anchor House Realtors, Inc., as of December 31, 2014. Each of your statements should have the 3-line heading, and your Balance Sheet should be a classified Balance Sheet. Please use the blank paper to provide your answer. Account Debit Credit Cash $800 Common Stock Unearned Revenue Inventory Supplies Expense Supplies Prepaid Rent Goodwill Building Depreciation Expense Notes Payable, due 2020 Accounts Receivable aid in Excess of Par Retained Earnings Income Tax Expense Service Revenue Rent Expense Accounts Payable Salaries Expense 11,640 4,100 2,00 1,20 1,90 500 6,000 40,00 1,40 2,300 1,000 3,000 8,040 2,300 6,400 2,000 5,100 33,000 7500 $8,500 Accumulated Depreciation Dividends ost of Goods Sold 1,600 Totals $75,140 $75,140

Anchor House Realtors, Inc. prepared the following random list of assets, liabilities, revenues, and expenses from its December 31, 2014 year end accounting records. Prepare the Income Statement, Statement of Retained Earnings and the CLASSIFIED Balance Sheet for Anchor House Realtors, Inc., as of December 31, 2014. Each of your statements should have the 3-line heading, and your Balance Sheet should be a classified Balance Sheet. Please use the blank paper to provide your answer.

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