ExxonMobil Corporation

Adjusted Trial Balance as at 31 December 2024

	Debit ($)	Credit ($)
Cash	30,000
Accounts Receivable	40,000
Prepaid Insurance	15,000
Equipment	300,000
Accumulated Depreciation - Equipment		70,000
Accounts Payable		25,000
Unearned Revenue		20,000
Common Stock		200,000
Retained Earnings		90,000
Service Revenue		250,000
Salaries Expense	70,000
Rent Expense	25,000
Depreciation Expense	20,000
Total	820,000	820,000

Required:

1. Prepare the Ledger Accounts for the above adjusted trial balance.
2. Calculate the Income Statement for the year ended 31 December 2024.
3. Prepare the Balance Sheet as at 31 December 2024.