Number
Adjusted Trial Balance
December 31
Account Title
Debit
Credit
101
Cash
$ 5,100
106
Accounts receivable
26,657
153
Trucks
45,000
154
Accumulated depreciation-Trucks
$ 18,090
183
Land
30,000
201
Accounts payable
14,213
209
Salaries payable
3,251
233
Unearned revenue
2,651
307
Common stock
15,000
318
Retained earnings
51,447
319
Dividends
10,605
401
Plumbing revenue
73,000
611
Depreciation expense-Trucks
6,030
622
Salaries expense
34,164
648
Rent expense
11,096
Totals
$ 177,652
$ 177,652
a. Use the adjusted trial balance to prepare the December 31 year-end income statement.
b. Use the adjusted trial balance to prepare the December 31 year-end statement of retained earnings. The Retained earnings
account balance was $51,447 on December 31 of the prior year
c. Use the adjusted trial balance to prepare the December 31 year-end balance sheet
Complete this question by entering your answers in the tabs below.
Required A
Required B
Required C
Use the adjusted trial balance to prepare the December 31 year-end statement of retained earnings. The Retained earnings
account balance was $51,447 on December 31 of the prior year
HAPP COMPANY
Statement of Retained Earnings
For Year Ended December 31
Retained earnings, December 31 prior year
$ 51,447
Add: Net income
26,657
78,104
Less Dividends
(18,605)
Retained earnings, December 31 current year
$ 137,603
< Required A
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