Chapter 1: Introduction to Financial Statements Exercise: CSU Corporation CSU Corporation began operations on January 1, 2010. The following information is available for CSU Corporation on December 31, 2010: Service revenue Common stock Accounts receivable Accounts payable Retained earnings Building rental expense Equipment Notes payable Insurance expense Supplies Supplies expense Cash Dividends $ 17,000 $ 10,000 $ 1,800 $2000 ? $ 9,000 $ 16,000 $ 5,000 $ 1,000 $ 4,000 $ 200 $ 1,400 $ 600 (a) Report the revenues and expenses for a period of time in an income statement. (b) Show the amounts and causes (net income and dividends) of changes in retained earnings during the period in the retained earnings statement. (c) Present the assets and claims to those assts at a specific point in time in the balance sheet. Fachbereich Elektrische Energietechnik Prof. Dr. Valerie Wulfhorst Betriebswirtschaftslehre, insb. Controlling Telefon 02921 378-451 Telefax 02921 378-409 E-Mail v.wulfhorst@fh-swf.de Standort Soest Lübecker Ring 2 59494 Soest Fachhochschule Südwestfalen Sitz: Iserlohn Hagen Iserlohn Meschede Soest www.fh-swf.de Page 1