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Question: green garden company made 192000 in net income during september...

Question details

Green Garden Company made $192,000 in net income during September 2017, its first month of business. It sold its services on credit and billed its customers $360,000 for September sales. The company collected $24,000 of these receivables in September. Company employees earned September wages (the company’s only expense), but those are not paid until the first of October.

Complete the following financial statements for the end of September 2017.

Income Statement

Balance Sheet

Sales

$360,000

Cash

$

Wages expense

$336,000

Accounts receivable

Net Income

$192,000

Total assets

$

Wages payable

$

Retained earnings

Total liabilities and equity

$

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