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From the Adjusted Trial Balance, find the entry for the: Income Statement, Statement of Retained Earnings, and the Balance Sheet. (I have done the income
From the Adjusted Trial Balance, find the entry for the: Income Statement, Statement of Retained Earnings, and the Balance Sheet. (I have done the income statement, but couldn't get the answer for statement of retained earnings and balance sheet). Please let me know if you need more information and thank you so much for the help.
Sharpe Incorporated | ||
Adjusted Trial Balance | ||
December 31, 2020 | ||
Account Name | Debit | Credit |
Cash | 947,725 | |
Accounts Receivable | 1,475,000 | |
Prepaid Insurance | 22,875 | |
Land | 352,000 | |
Equipment | 195,000 | |
Accumulated Depreciation | 19,580 | |
Vacation Pay Payable | 11,880 | |
Interest Payable | 5,833 | |
Notes Payable | 38,840 | |
Common Dividends Payable | ||
Preferred Dividends Payable | ||
Bonds Payable | 1,000,000 | |
Bond Discount | 67,774 | |
Common Stock | 115,208 | |
PIC in Excess of Par - Common Stock | 664,392 | |
Preferred Stock | 189,000 | |
PIC in Excess of Par - Preferred Stock | 337,000 | |
PIC - Treasury Stock | ||
Stock Dividend Distributable | ||
Retained Earnings | 26,589 | |
Treasury Stock | 20,900 | |
Fees Earned | 1,975,000 | |
Advertising Expense | 140,000 | |
Commissions Expense | 63,000 | |
Depreciation Expense | 19,580 | |
Insurance Expense | 13,725 | |
Legal & Accounting Expense | 18,000 | |
Medical Insurance Expense | 32,000 | |
Miscellaneous Expense | 8,400 | |
Rent Expense | 170,000 | |
Salary Expense | 760,000 | |
Utilities Expense | 13,200 | |
Vacation Pay Expense | 11,880 | |
Interest Expense | 52,264 | |
4,383,322 | 4,383,322 |
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