Question
Financial statements. The adjusted trial balance of Ryan Financial Planners appears below. Using the information from the adjusted trial balance, you are to prepare for
Financial statements.
The adjusted trial balance of Ryan Financial Planners appears below.
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Using the information from the adjusted trial balance, you are to prepare for the month ending December 31, 2020:
1. an income statement.
2. a retained earnings statement.
3. a balance sheet.
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Use Module 2 Part 5 - Slides 5 and 6
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Remember, Assets = Liabilities + Stockholders Equity
RYAN FINANCIAL PLANNERS
Adjusted Trial Balance
December 31, 2020
Debit Credit
Cash $ 4,900
Accounts Receivable 2,200
Supplies 1,800
Equipment 20,000
Accumulated DepreciationEquipment $ 5,000
Accounts Payable 3,800
Unearned Service Revenue 5,000
Common Stock 11,000
Retained Earnings 4,400
Dividends 2,000
Service Revenue 8,700
Supplies Expense 600
Depreciation Expense 3,500
Rent Expense 2,900 ______
$37,900 $37,900
Prepare the financial statements requested (you dont have to give me the financial statements but just enter the following answers above:
From the income statement:
From the Retained Earnings Statement:
From the Balance Sheet
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