Question
1. Presented below is the adjusted trial balance for Cooper Company on December 31, 2019. COOPER COMPANY Adjusted Trial Balance December 31, 2019 Dr. Cr.
1. Presented below is the adjusted trial balance for Cooper Company on December 31, 2019.
COOPER COMPANY
Adjusted Trial Balance
December 31, 2019
Dr. Cr.
Cash $ 1,500
Accounts Receivable 4,300
Prepaid Rent 2,100
Supplies 400
Automobile equipment 18,500
Accumulated depreciation
Automobile equipment $ 1,300
Accounts Payable 2,700
Unearned Revenue 3,660
Notes Payable 10,000
Common Stock 5,000
Retained Earnings 2,200
Dividends 1,200
Service Revenue 8,800
Salaries Expense 2,160
Utilities Expense 1,400
Rent Expense 500
Supplies Expense 600
Depreciation Expense
Automobile Equipment 650
Interest Expense 350
Totals $33,660 $33,660
a) Using this information, prepare for the month ending December 31: (2 points)
1. an income statement.
2. a retained earnings statement.
3. a balance sheet.
b) Using the above information, prepare December 31 closing entries for Cooper Company. Use
the Income Summary T account to assist in your analysis.
(3 points)
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