Answered step by step
Verified Expert Solution
Question
1 Approved Answer
152,000 Apartment Building Furniture 50,000 41,100 Accumulated Depreciation Accounts Payable Unearned Rent Revenues 6,500 7,400 Long Term Note Payable due in one year 8,000
152,000 Apartment Building Furniture 50,000 41,100 Accumulated Depreciation Accounts Payable Unearned Rent Revenues 6,500 7,400 Long Term Note Payable due in one year 8,000 72,000 Long Term Note Payable Common Stock 112,700 Retained Earnings 35,700 Dividends 5,000 Rent Revenue 110,700 Depreciation expense 10,000 Repair expense 3,600 Salaries expense 52,200 Utilities expense 9,400 Supplies expense Insurance expense Total 1,500 1,000 394,100 394,100 REQUIRED: Use this trial balance to create a) Income Statement b) Retained Earning Statement c) Balance Sheet
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started