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CAN AN ACCOUNTANT TUTOR HELP ME WITH THE INCOME STATEMENT AND RETAINED EARNINGS STATEMENTS. Lamp Light Company maintains and repairs warning lights, such as those
CAN AN ACCOUNTANT TUTOR HELP ME WITH THE INCOME STATEMENT AND RETAINED EARNINGS STATEMENTS.
Lamp Light Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Lamp Light Company prepared the following end-of-period spreadsheet at December 31, 2016, the end of the fiscal year: Lamp Light Company End-of-Period Spreadsheet For the Year Ended December 31, 2016 Unadjusted Trial Balance Account Title Dr. Cash 10,800.00 Accounts Receivable 38,900.00 Cr. Adjustments Dr. Cr. Adjusted Trial Balance Dr. 10,800.00 (a) 11,300.00 50,200.00 Prepaid Insurance 4,200.00 (b) 3,000.00 1,200.00 Supplies 2,730.00 (c) 2,250.00 480.00 Land Building 98,000.00 98,000.00 400,000.00 400,000.00 Accumulated 205,300.00 Depreciation-Building Equipment Accumulated Depreciation- Cr. (d) 10,100.00 101,000.00 215,400.00 101,000.00 85,100.00 (e) 6,680.00 91,780.00 Equipment Accounts Payable 15,700.00 15,700.00 Salaries and Wages (f) 4,900.00 Payable 4,900.00 Unearned Rent 2,100.00 Common Stock 75,000.00 75,000.00 128,100.00 128,100.00 Retained Earnings Dividends (g) 1,300.00 10,000.00 Fees Earned 10,000.00 363,700.00 Rent Revenue Salaries and Wages Expense 800.00 163,100.00 (f) 4,900.00 (a) 11,300.00 375,000.00 (g) 1,300.00 1,300.00 168,000.00 Advertising Expense 21,700.00 21,700.00 Utilities Expense 11,400.00 11,400.00 Depreciation Expense- (d) 10,100.00 Building Repairs Expense Depreciation ExpenseEquipment 8,850.00 10,100.00 8,850.00 (e) 6,680.00 6,680.00 Insurance Expense (b) 3,000.00 3,000.00 Supplies Expense (c) 2,250.00 2,250.00 Miscellaneous Expense 4,320.00 875,000.00 875,000.00 4,320.00 39,530.00 39,530.00 907,980.00 907,980.00Step by Step Solution
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