G File | C:/Users/Mpank/Do... e + 1 of 1 Problem 3 Chapter 4 Instructions On the Excel file, you will find two tabs: 1) Adjusted Trial Balance and 2) Financial Statements. The Adjusted Trial Balance is completed and correct. The Financial Statements tab shows an outline for the financial statements with all headings, accounts, columns, and lines correct. Note that this format is almost exactly the same as Problem 2 Chapter 3. The only difference is the inclusion of a couple more accounts. REQUIRED: Complete the financial statements using formulas in Excel. DO NOT just enter the numbers, enter formulas for ALL amounts. Referring back to Problem 2 Chapter 3 will be helpful. 8:07 AM 10/17/2020 XA N G Cumberland City Cycles, Inc. Income Statement For the Year Ended December 31, 2021 M Cumberland City Cycles, Inc. Balance Sheet 31-Dec-21 Revenues Rental Revenue Total Revenues Expenses Salaries Expense Advertising Expense Uits Expense Insurance Expense Rent Expense Supplies Expense Depreciation Expense-Building Depreciation Expense-Equipment Interest Expense Total Expenses Assets Cash Accounts Receivable Supplies Prepaid Rent Prepaid Insurance Equipment Accumulated Depreciation Equipment Building Accumulated Depreciation Building Total Assets Net Income Liabilities Accounts Payable Unearned Revenue Notes Payable Salaries Payable Interest Payable Notes Payable-Long Term Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities & Stockholders' Equity Cumberland City Cycles, Inc. Statement of Retained Earnings For the Year Ended December 31, 2021 Beginning Retained Earnings Add Net Income Less: Dividends Ending Retained Earnings Adjusted Trial Balance Financial Statements 73% Type here to search o i a G File | C:/Users/Mpank/Do... e + 1 of 1 Problem 3 Chapter 4 Instructions On the Excel file, you will find two tabs: 1) Adjusted Trial Balance and 2) Financial Statements. The Adjusted Trial Balance is completed and correct. The Financial Statements tab shows an outline for the financial statements with all headings, accounts, columns, and lines correct. Note that this format is almost exactly the same as Problem 2 Chapter 3. The only difference is the inclusion of a couple more accounts. REQUIRED: Complete the financial statements using formulas in Excel. DO NOT just enter the numbers, enter formulas for ALL amounts. Referring back to Problem 2 Chapter 3 will be helpful. 8:07 AM 10/17/2020 XA N G Cumberland City Cycles, Inc. Income Statement For the Year Ended December 31, 2021 M Cumberland City Cycles, Inc. Balance Sheet 31-Dec-21 Revenues Rental Revenue Total Revenues Expenses Salaries Expense Advertising Expense Uits Expense Insurance Expense Rent Expense Supplies Expense Depreciation Expense-Building Depreciation Expense-Equipment Interest Expense Total Expenses Assets Cash Accounts Receivable Supplies Prepaid Rent Prepaid Insurance Equipment Accumulated Depreciation Equipment Building Accumulated Depreciation Building Total Assets Net Income Liabilities Accounts Payable Unearned Revenue Notes Payable Salaries Payable Interest Payable Notes Payable-Long Term Total Liabilities Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities & Stockholders' Equity Cumberland City Cycles, Inc. Statement of Retained Earnings For the Year Ended December 31, 2021 Beginning Retained Earnings Add Net Income Less: Dividends Ending Retained Earnings Adjusted Trial Balance Financial Statements 73% Type here to search o i a
