Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Following is the adjusted trial balance of Post Company. Based on this information prepare a Balance Sheet, Income Statement and Statement of Retained Earnings. POST

Following is the adjusted trial balance of Post Company. Based on this information prepare a Balance Sheet, Income Statement and Statement of Retained Earnings.

POST COMPANY
ADJUSTED TRIAL BALANCE
Debit Credit
Cash 80,000
Accounts Receivable 11,100
Prepaid Insurance

1,500

Equipment 4,000
Accumulated Depreciation 200
Supplies 500
Accounts Payable 700
Wages Payable 300
Unearned Revenue 1,500
Contributed Capital 80,000
Retained Earnings 0
Sales 17,000
Gas Expense 400
Supply Expense 300
Insurance Expense 200
Depreciation Expense 200
Wage Expense 500
Dividends 1,000
99,700 99,700

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Clinical Audit For Doctors And Healthcare Professionals

Authors: Bhoresh Dhamija, Chen Low, Geri Keane

2nd Edition

1445384043, 978-1445384047

More Books

Students also viewed these Accounting questions