Denver Broncos Wannabees

Adjusted Trial Balance

December $31,2024$

DR

CR

Cash

$

$19,500$

Accounts Receivable

$6,500$

Prepaid Rent

$10,000$

Office Supplies

$5,000$

Equipment

$24,000$

Accumulated Depreciation$-$ Equipment

S

$4,800$

Accounts Payable

$3,950$

Unearned Revenue

$7,500$

Long$-$term note payable

$9,000$

Common Stock

$14,750$

Retained Earnings

$13,205$

Dividends

$1,900$

Service Revenue

$23,995$

Salaries Expense

$2,500$

Supplies Expense

$1,000$

Depreciation Expense

$4,800$

Rent Expense

$2,000$

$

$77,200$

S $77,200$You are the accountant for the Denver Broncos Wannabees and they have reached the end of their calendar year. They use accrual based accounting and need you to prepare the Income Statement for the end of their calendar year.

Be sure to use good form, you are graded on formatting. Use your spacebar to demonstrate that form.