The adjusted trial balance for Renfro Company is given in E3.17.

Instructions
Prepare the income and owner€™s equity statements for the year and the balance sheet at August 31.

E3.17

The trial balances before and after adjustment for Renfro Company at the end of its fiscal year are presented below.

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Renfro Company Trial Balance August 31, 2020 Before After Adjustment Adjustment Cr. Dr. Cr. Dr. Cash $10,400 $10,400 Accounts Receivable 8,800 11,200 Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equipment Accounts Payable Salaries and Wages Payable 2,300 700 4,000 2,500 14,000 14,000 $ 3,600 $ 4,500 5,800 5,800 1,100 -0- Unearned Rent Revenue 1,500 400 Owner's Capital 15,600 15,600 34,000 Service Revenue 36,400 Rent Revenue 11,000 12,100 Salaries and Wages Expense 17,000 18,100 Supplies Expense Rent Expense Insurance Expense -0- 1,600 15,000 15,000 1,500 -0- 900 Depreciation Expense -0- $75,900 $71,500 $71,500 $75,900