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can you please show how you got all the entries Using the adjusted trial balance below, prepare the following financial statements for Custom Cupcakes, Inc.
can you please show how you got all the entries
Using the adjusted trial balance below, prepare the following financial statements for Custom Cupcakes, Inc. for the year ended December 31, 2021: a) multiple-step income statement, b) statement of retained earnings, and c) classified balance sheet. Custom Cupcakes, Inc Adjusted Trial Balance For the Year Ended December 31, 2021 Credit Debit $73,600 66,300 $2,000 19,700 4,000 6,500 201,600 204,600 72,750 17,500 12,000 Cash Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Supplies Prepaid Insurance Land Office Equipment Accumulated Depreciation - Office Equipment Patents Trademarks Notes Payable (Current Portion) Accounts Payable Unearned Rent Salaries Payable Interest Payable Notes Payable, Due 2026 Bonds Payable Discount on Bonds Payable Common Stock Paid in capital in excess of par - Common Stock Treasury Stock Retained Earnings 1/1/21 Dividends Sales Sales Returns and Allowances Cost of Goods Sold Administration Expenses Selling Expenses Bad Debt Expense Depreciation Expense Interest Expense Loss on Sale of Equipment 1,500 55,000 4,500 28,700 6,000 166,000 100,000 Check Figures Income from Operations $170,600 Retained Earnings 12/31/21 598,350 Total Assets: $531,050 4,000 70,000 30,000 25,000 11,750 52,000 365,000 20,000 55,000 56,500 41,500 3,500 17,900 12,000 20.000 TOTAL $ 913,200 $913,200 Step by Step Solution
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