Account No. 101 112 126 130 6,100 200 201 212 230 311 320 332 400 610 631 Alshwer Company Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Account Titles Dr. Cr. Cash 5,300 Accounts Receivable 10,800 Supplies 1,500 Prepaid Insurance 2,000 Equipment 27,000 Accumulated Depreciation-Equipment 5,600 Notes Payable 15,000 Accounts Payable Salaries and Wages Payable 2,400 Interest Payable 600 Common Stock 10,000 Retained Earnings 3,000 Dividends 7,000 Service Revenue 61,000 Advertising Expense 8,400 Supplies Expense 4,000 Depreciation Expense 5,600 Insurance Expense 3,500 Salaries and Wages Expense 28,000 Interest Expense 600 Totals 103,700 103,700 711 726 Complete the worksheet by extending the balances to the financial statement columns. Alshwer Company Worksheet Income Statement Balance Sheet Adjusted Trial Balance Dr. Cr. Account No. Account Titles Dr. 101 Cash $5,300 Accounts Receivable 10,800 Supplies 1,500 Prepaid Insurance 2,000 157 Equipment 27,000 158 Accumulated Depreciation - Equipment 5,600 Notes Payable 15,000 201 Accounts Payable 6,100 Salaries and Wages Payable 2,400 212 230 Interest Payable 600 311 Common Stock 10,000 320 Retained Earnings 3,000 332 Dividends 7,000 400 Service Revenue 61,000 Advertising Expense 8,400 Supplies Expense 4,000 Depreciation Expense 5,600 711 722 Insurance Expense 3,500 726 Salaries and Wages Expense 28,000 905 Interest Expense 600 Totals 103,700 103,700 Net Income Totals Prepare an income statement. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Alshwer Company Income Statement Prepare a retained earnings statement. (List items that increase retained earnings first.) Alshwer Company Retained Earnings Statement Prepare a classified balance sheet. (Note: $4,000 of the notes payable become due in 2020.) (List Current Assets in order of liquidity.) Alshwer Company Balance Sheet Assets Liabilities and Stockholders' Equity Prepare the closing entries. (Credit account titles are automatically indented when amount is entered. Do not inde Date Account Titles and Explanation Debit Credit Dec. 31 (To close revenue account.) Dec. 31 (To close expense accounts.) Dec. 31 (To close net income / (loss).) Dec. 31 (To close dividends.) Post the closing entries. (Post entries in the order of journal entries presented in the previous part.) Retained Earnings Date Explanation Ref Debit No.301 Balance Credit Jan. 31 Balance Dec. 31 Closing entry J14 Dec. 31 Closing entry J14 Dividends Date Explanation Ref Debit Dec. 31 Balance No.306 Balance Credit Dec. 31 Closing entry J14 Income Summary Date Explanation Ref Debit Dec. 31 Closing entry J14 No.350 Balance Credit Dec. 31 Closing entry J14 Dec. 31 Closing entry J14 Service Revenue Date Explanation Ref Debit Dec. 31 Balance No.400 Balance Credit Dec. 31 Closing entry J14 Advertising Expense Date Explanation Ref Debit Dec. 31 Balance No.610 Balance Credit Dec. 31 Closing entry J14 Supplies Expense Date Explanation Ref Debit Dec. 31 Balance No.631 Balance Credit Dec. 31 Closing entry J14 Depreciation Expense Date Explanation Ref Debit Dec. 31 Balance No.711 Balance Credit Dec. 31 Closing entry J14 Insurance Expense Date Explanation Ref Debit Dec. 31 Balance No.722 Balance Credit Dec. 31 Closing entry J14 Salaries and Wages Expense Explanation Ref Debit No.726 Balance Date Credit Dec. 31 Balance Dec. 31 Closing entry J14 Interest Expense Date Explanation Ref Debit Dec. 31 Balance No.905 Balance Credit Dec. 31 Closing entry J14 Prepare a post-closing trial balance. Alshwer Company Post-Closing Trial Balance Debit Credit Totals