Exercise 4-2 Extending accounts to financial statement columns P1 The Adjusted Trial Balance columns of a...

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Exercise 4-2 Extending accounts to financial statement columns P1 The Adjusted Trial Balance columns of a work sheet for Planta Company follow. Complete the work sheet by extending the account balances into the appropriate financial statement columns and by entering the amount of net income for the reporting period. Check Net income, $17,800 Balance Sheet and No. Account Title Adjusted Trial Balance Dr. Income Statement Q Cr. Dr. Cr. 101 Cash $ 7,000 106 Accounts receivable 27,200 153 Trucks 42,000 154 Accumulated depreciation-Trucks $17,500 183 Land 32,000 201 Accounts payable 15,000 209 Salaries payable 4,200 236 Unearned revenue 3,600 301 B. Planta, Capital 65,500 302 B. Planta, Withdrawals 15,400 403 Plumbing revenue 84,000 611 Depreciation expense-Trucks 6,500 622 Salaries expense 38,000 640 Rent expense 13,000 677 Miscellaneous expenses 8,700 Totals $189,800 $189,800 Net income Totals Exercise 4-2 Extending accounts to financial statement columns P1 The Adjusted Trial Balance columns of a work sheet for Planta Company follow. Complete the work sheet by extending the account balances into the appropriate financial statement columns and by entering the amount of net income for the reporting period. Check Net income, $17,800 Balance Sheet and No. Account Title Adjusted Trial Balance Dr. Income Statement Q Cr. Dr. Cr. 101 Cash $ 7,000 106 Accounts receivable 27,200 153 Trucks 42,000 154 Accumulated depreciation-Trucks $17,500 183 Land 32,000 201 Accounts payable 15,000 209 Salaries payable 4,200 236 Unearned revenue 3,600 301 B. Planta, Capital 65,500 302 B. Planta, Withdrawals 15,400 403 Plumbing revenue 84,000 611 Depreciation expense-Trucks 6,500 622 Salaries expense 38,000 640 Rent expense 13,000 677 Miscellaneous expenses 8,700 Totals $189,800 $189,800 Net income Totals