Use the Following Information to Prepare 1)an Income Statement,2)a Statement

question 61

Essay

Use the following information to prepare 1)an income statement,2)a statement of owner's equity,and 3)a balance sheet for the month ended March 31,200x for Bolthouse Company.
$$\begin{array} { l r } \text { J. Bolthouse, Capital (beg.) } & \$ 2,000 \\\text { Revenue } & 1000 \\\text { Expenses } & 300 \\\text { Withdrawals } & 150 \\\text { Cash } & 3,000 \\\text { Equipment } & 1,000 \\\text { Accounts Receivable } & 150 \\\text { Accounts Payable } & 2,000\end{array}$$

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Definitions:

Marginal Cost

The cost of producing one additional unit of a good or service.

Marginal Benefit

Marginal benefit is the additional satisfaction or utility that a person receives from consuming an additional unit of a good or service.

Sushi Bar

A restaurant specializing in sushi, offering a variety of raw fish and seafood dishes, often served on a conveyer belt or prepared to order.

Additional Piece

A supplementary item or unit added to those already present or available.