Industrial Cost Control Assignment | College Homework Help

IET 350: Industrial Cost Control Assignment 2 1. The following data, expressed as $104, are the closed ledger accounts showing assets, liabilities, income, and expenses of Blue River Fabricators, Inc., a family owned firm that does not declare dividends. Prepare an income statement and balance sheet for the year. (Hint: some items belong to balance sheet and some are part of income statement) (3 points) Account Title $104 Cash in bank 1560 Project income 3000 Interest income, owned securities 100 Rental income 600 Salary and wage expense 2400 Bank loan 2000 Capital stock 8300 Retained earnings, January 1 1700 Securities owned 4000 Account Title Office expense Manufacturing fixture owned Account payable Interest expense on bank loan Receivable from contracts Equipment owned Materials expense Buildings owned Taxes, all kind $10* 200 1000 1400 50 1800 800 150 5000 140 Get Accounting homework help today