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ESSAY. Write your answer in the space provided or on a separate sheet of paper. 19) The adjusted trial balance of Alicante Company is shown
ESSAY. Write your answer in the space provided or on a separate sheet of paper. 19) The adjusted trial balance of Alicante Company is shown below: Alicante Company Adjusted Trial Balance December 31, 2020 $6,000 15,500 6,500 5,000 3,500 15,000 2,000 110,000 Accounts payable Retained earnings Depreciation expense Dividends Cost of goods sold 40,000 Salary payable Cash 15,500 Common stock Miscellaneous expense 2,500 Unearned revenue (3 month advance) Supplies expense 1,800 Sales Salary expense 40,000 Prepaid rent (6 months) 3,000 Bank loan - long term Equipment, net 32,000 Rent expense 10,000 Account receivable 14,500 Note payable - long term Supplies 2,500 Utilities expense 4.700 Total $178,000 20,000 6,000 $178,000 Prepare Alicante Company's multi-step income statement, statement of retai sheet for the year ended December 31, 2020. (10 marks)
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