Question

From the following Company Y adjusted trial balance, prepare simple financial statements as follows: 1. Income Statement 2. Retained Earnings Statement 3. Balance Sheet Adjusted Trial Balance Debit Credit Cash $ 32,000 Accounts receivable 17,300 Prepaid insurance 6,400 Land 10,000 Accounts payable $ 10,900 Salaries payable 6,000 Common stock 31,000 Retained earnings 4,200 Dividends 8,000 Service revenue 74,000 Insurance expense 5,600 Salaries expense 24,000 Miscellaneous expense 22,800 126,100 126,100

          From the following Company Y adjusted trial balance, prepare simple financial statements as follows:
1. Income Statement
2. Retained Earnings Statement
3. Balance Sheet

Adjusted Trial Balance
Debit Credit
Cash $ 32,000
Accounts receivable 17,300
Prepaid insurance 6,400
Land 10,000
Accounts payable $ 10,900
Salaries payable 6,000
Common stock 31,000
Retained earnings 4,200
Dividends 8,000
Service revenue 74,000
Insurance expense 5,600
Salaries expense 24,000
Miscellaneous expense 22,800
126,100 126,100

From the following Company Y adjusted trial balance, prepare simple financial statements as follows:
1. Income Statement
2. Retained Earnings Statement
3. Balance Sheet

Adjusted Trial Balance
Debit Credit
Cash 32,000
Accounts receivable 17,300
Prepaid insurance 6,400
Land 10,000
Accounts payable 10,900
Salaries payable 6,000
Common stock 31,000
Retained earnings 4,200
Dividends 8,000
Service revenue 74,000
Insurance expense 5,600
Salaries expense 24,000
Miscellaneous expense 22,800
126,100 126,100

Added by Lauryn S.

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