Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

4. FINANCIAL STATEMENTS Prepare financial statements from trial balance. E3.16 (LO 4) AP The adjusted trial balance for Haer Design Company at December 31,

image text in transcribed

4. FINANCIAL STATEMENTS Prepare financial statements from trial balance. E3.16 (LO 4) AP The adjusted trial balance for Haer Design Company at December 31, 2024, which is the end of its fiscal year, is as follows: HAER DESIGN COMPANY Adjusted Trial Balance December 31, 2024 Debit Credit Cash Accounts receivable Supplies Prepaid insurance Equipment $ 10,400 12,100 2,300 4,000 18,000 Accumulated depreciation-equipment $6,000 Accounts payable 6,900 Salaries payable 2,200 Unearned revenue 1,400 H. Haer, capital 16,000 H. Haer, drawings 6,800 Service revenue 57,500 Salaries expense 17,500 Supplies expense 1,500 Rent expense 12,000 Insurance expense 2,400 Depreciation expense 3,000 $90,000 $90,000 Instructions Prepare Haer Design Company's income statement, statement of owner's equity, and balance sheet.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting

Authors: Carl s. warren, James m. reeve, Philip e. fess

21st Edition

978-0324400205, 324225016, 324188005, 324400209, 9780324225013, 978-0324188004

More Books

Students also viewed these Accounting questions

Question

Do you have little trouble staying up past midnight? Yes No

Answered: 1 week ago