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asap Question 2 [30 points] Jerry Forrentes started Callaho Inc. on August 1, 2014. The adjusted trial balance shown below has been prepared for Callaho
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Question 2 [30 points] Jerry Forrentes started Callaho Inc. on August 1, 2014. The adjusted trial balance shown below has been prepared for Callaho Inc. as of August 31, 2014. Use this information to prepare the income statement and statement of changes in equity for the month ended August 31 along with the August 31 balance sheet. Callaho Inc. Adjusted Trial Balance August 31, 2014 (select one) Income Statement (select one) (select one) Statement of Changes in Equity (select one) Share Retained Total Capital Earnings Equity Accumulated depreciation, building, Accumulated depreciation, trucks Advertising expense Advertising payable Building Commissions earned Consulting revenue earned Depreciation expense, building Depreciation expense, trucks Dividends Interest earned Interest expense Long-term notes payable Prepaid advertising Prepaid interest Rent expense Rent payable Salaries expense Salaries payable Share capital Supplies Trucks Totals Debit Credit 8,500 7,000 64,000 58,000 143,500 121,000 78,500 8,500 7,000 12,500 32,000 24,000 87,000 38,500 20,500 37,500 36,500 66,000 64,000 164,000 72,500 162,000 656,500 656,500 (select one) Balance Sheet (select one) XXStep by Step Solution
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