CH 3 #4 i 1 10 points eBook References The adjusted trial balance of Karise Repairs on December 31 follows. Number Account Title 101 124 128 167 168 Accumulated depreciation-Equipment 201 Accounts payable 210 Wages payable 307 Common stock 318 319 403 612 623 637 640 650 690 Cash office supplies Prepaid insurance. Equipment KARISE REPAIRS Adjusted Trial Balance December 31 Retained earnings Dividends Services revenue Depreciation expense-Equipment Wages expense Insurance expense Rent expense office supplies expense Utilities expense Totals Debit $ 54,000 1,400 2,300 59,000 Required 1A Required 1B Required 1C Required 2 16,500 Complete this question by entering your answers in the tabs below. Credit $ 5,900 13,500 1,400 18,000 39,000 120,800 5,900 41,000 1,200 11,000 3,100 3,200 $ 198,600 $ 198,600 Note: Retained Earnings account balance was $39,000 on December 31 of the prior year. Required: 1a. Prepare an income statement for the year. 1b. Prepare a statement of retained earnings for the year. 1c. Prepare a classified balance sheet at December 31. 2. Prepare the December 31 closing entries. Saved CH 3 #4 i 1 10 points eBook References The adjusted trial balance of Karise Repairs on December 31 follows. Number Account Title 101 124 128 167 168 Accumulated depreciation-Equipment 201 Accounts payable 210 Wages payable 307 Common stock 318 319 403 612 623 637 640 650 690 Cash office supplies Prepaid insurance. Equipment KARISE REPAIRS Adjusted Trial Balance December 31 Retained earnings Dividends Services revenue Depreciation expense-Equipment Wages expense Insurance expense Rent expense office supplies expense Utilities expense Totals Debit $ 54,000 1,400 2,300 59,000 Required 1A Required 1B Required 1C Required 2 16,500 Complete this question by entering your answers in the tabs below. Credit $ 5,900 13,500 1,400 18,000 39,000 120,800 5,900 41,000 1,200 11,000 3,100 3,200 $ 198,600 $ 198,600 Note: Retained Earnings account balance was $39,000 on December 31 of the prior year. Required: 1a. Prepare an income statement for the year. 1b. Prepare a statement of retained earnings for the year. 1c. Prepare a classified balance sheet at December 31. 2. Prepare the December 31 closing entries. Saved