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Create an income statement, statement of retained earnings, and balance sheet from the following trail balance; Trial Balance EDG Company For the year ended 12/31/21
Create an income statement, statement of retained earnings, and balance sheet from the following trail balance;
Trial Balance
EDG Company
For the year ended 12/31/21
ACCOUNT | DEBIT | CREDIT |
Cash | 75,640 | |
Prepaid Rent | 1,000 | |
Equipment | 350,000 | |
Accum. Depre. Equip. | 125,000 | |
Unearned Service Revenue | 5,000 | |
Accounts Payable | 12,000 | |
Common Stock | 100,000 | |
Retained Earnings | 76,000 | |
Dividends | 10,000 | |
Service Revenue | 256,000 | |
Advertising Expense | 800 | |
Depreciation Expense | 2,000 | |
Rent Expense | 12,000 | |
Supplies Expense | 560 | |
Utilities Expense | 42,000 | |
Wages Expense | 80,000 | |
TOTALS | 574,000 | 574,000 |
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