Question
Given the adjusted trial balance below, prepare (in good form) an income statement, statement of retained earnings, and balance sheet. The name of the business
Given the adjusted trial balance below, prepare (in good form) an income statement, statement of retained earnings, and balance sheet. The name of the business is HAPPYLAND Cleaning Service and the accounting period coincides with the calendar year. HAPPYLAND Cleaning Service Adjusted Trial Balance December 31, 2020 Cash $530 Accounts Receivable 1,200 Supplies 20 Prepaid Insurance 20 Office Equipment 2,000 Accumulated Depreciation-Office Equipment $ 300 Accounts Payable 1,200 Salaries Payable 70 1,000 Common Stock Retained Earnings, 1,000 Dec. 31, 2019 400 Service Revenue Earned 2,200 Salaries Expense 1,120 Supplies Expense 80 Insurance Expense 100 Depreciation Expense-Office Equipment 100
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started