accounting 200

financial statement homework #1

Jung Company Adjusted Trial Balance December 31, 2018 115 115,000 21,000 3,000 36,000 110,000 15,000 65,000 Cash Accounts Receivable Supplies Prepaid Insurance Inventory Vehicle Equipment Accumulated Depreciation Accounts Payable Unearned Revenue Wages Payable Long-Term Notes Payable Common Stock Retained Earnings (1/1/2018) Dividends Service Revenue Repair Expense Delivery Expense Depreciation Expense Rent Expense Insurance Expense Wages Expense Supplies Expense Interest Expense Income Tax Expense Total 35,000 8,000 15,900 1,000 47,000 35,000 55,100 4,000 480,000 8,000 42,000 6,000 55.000 10.000 10.000 140,000 13,000 2,000 32,000 677,000 677,000 (Company Name) Income Statement (Date) (Company Name) Statement of Retained Earnings (Date) Page 6 of 8 (Be sure to include all the necessary subtotals and totals as outlined in Chapter 2 for a Classified Balance Sheet. You may not need to use all the lines provided. Note: The two columns below do not represent debit and credit balances like they do on a trial balance. On the Balance Sheet, use the right column for subtotals and totals.) (Company Name) Balance Sheet (Date) Page 7 of 8 Part 5: Answer the following questions using the above completed financial statements: What is the dollar amount for Net Income or Net Loss? What is the dollar amount for Ending Retained Earning? What is the dollar amount for Total Current Assets? What is the dollar amount for Total Current Liabilities? What is the dollar amount for Total Stockholders Equity? What is the dollar amount for Total Assets? Page 8 of 8