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Camino Visions Company Financial Statement Preparation Camino Visions Company reported the following adjusted trial balance as of March 31: Acct # Account Name Debits Credits

Camino Visions Company Financial Statement Preparation

Camino Visions Company reported the following adjusted trial balance as of March 31:

Acct # Account Name Debits Credits
101 Cash $ 25,250
106 Accounts receivable 11,000
124 Office supplies 2,000
128 Prepaid insurance 4,000
131 Prepaid rent 12,000
163 Office equipment 50,000
165 Accumulated depreciation $ 10,000
201 Accounts payable 5,000
210 Salaries payable 2,500
220 Unearned revenue 14,000
307 Common stock 50,000
310 Retained earnings 7,500
319 Dividends 1,000
401 Services revenue 34,000
680 Salaries expense 10,000
685 Supplies expense 4,000
687 Rent expense 1,000
688 Insurance expense 1,250
690 Utilities expense 500
695 Depreciation expense 1,000
Totals $ 123,000 $ 123,000

Required:

Using the information from the adjusted trial balance, fill in the appropriate amounts in the financial statements below.

Enter amounts only. DO NOT USE $ (dollar signs) or COMMAS in your answers.

Income Statement:

Services revenue
Salaries expense
Supplies expense
Rent expense
Insurance expense
Utilities expense
Depreciation expense
Total Expenses
Net income

Statement of Retained Earnings:

Beginning retained earnings 7,500
Add: net income
Less: dividends
Ending retained earnings

Balance Sheet:

Assets:
Cash
Accounts receivable
Office supplies
Prepaid insurance
Prepaid rent
Office equipment
Accumulated depreciation
Total Assets
Liabilities:
Accounts payable
Salaries payable
Unearned revenue
Total Liabilities
Equity:
Common stock
Retained earnings (ending)
Total Equity
Total Liabilities and Equity

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