Presented here are the accounts of Town and Country

Realty #334
Presented here are the accounts of Town and Country Realty for the year ended December 31,
2016: Land ............ $ 5,000Notes Payable ......... 36,000Property Tax Expense ......
3,400Dividends ......... 32,000Rent Expense .......... 10,000Salaries Expense .......
69,000Salaries Payable ....... 1,500Service Revenue ....... 180,000Office Supplies .......
12,000Retained Earnings, 12/31/15 .... 57,000Common Stock ....... $ 28,000Accounts Payable
....... 14,000Accounts Receivable ....... 1,000Advertising Expense ....... 14,000Building ............
144,600Cash .............. 3,800Equipment ........... 13,000Insurance Expense ....... 2,200Interest
Expense ....... 6,500Requirements 1. Prepare Town and Country Realty's income statement.2.
Prepare the statement of retained earnings.3. Prepare the balance sheet.View Solution:
Presented here are the accounts of Town and Country Realty

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