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 Hampden Cleaning Service and the accounting period coincides with the calendar year.
Hampden Cleaning Service | ||
Adjusted Trial Balance | ||
December 31, 2020 | ||
Cash | $ 530 |
|
Accounts Receivable | 1,200 |
|
Supplies | 20 |
|
Prepaid Insurance | 20 |
|
Office Equipment | 2,000 |
|
Accumulated DepreciationOffice Equipment |
| $ 300 |
Accounts Payable |
| 1,200 |
Salaries Payable |
| 70 |
Common Stock |
| 1,000 |
Retained Earnings, Dec. 31, 2019 |
| 400 |
Service Revenue Earned |
| 2,200 |
Salaries Expense | 1,120 |
|
Supplies Expense | 80 |
|
Insurance Expense | 100 |
|
Depreciation ExpenseOffice Equipment | 100 | ______ |
| $5,170 | $5,170 |
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