hi!! so, im sending you a file for you to see what im talking about ..

My teacher gave me the template for the unadjusted trial balance but i have 3 expenses total but she only put space for one. Does that mean that i can put '' total expenses'' ?

Dec 1 Cash Common Stock 60000 2 Office Equipment Cash 17500 2 Prepaid Rent Cash 18000 3 Office Supplies Accounts Payable 10 Prepaid Insurance Cash 60000 17500 18000 1500 1500 3600 3600 14 Salary Expenses Cash 10750 24 Cash Commission Revenue 54000 28 Salary Expense Cash 12125 29 Repair Expense Cash 350 30 Utilities Expense Cash 450 30 Dividends Cash 10750 54000 12125 350 450 3000 3000 Trap Adventures, Inc. Unadjusted Trial Balance December 31, 2015 Cash Office Equipmeny Prepaid Rent Office Supplies Prepaid Insurance Common Stock Accounts Payable Dividends Commission Revenue Total Expenses $ 48,225 17,500 18,000 1,500 3,600 $ 60,000 1,500 3,000 54,000 Totals $ 23,675 115,500 $ 115,500 Dec 31 Insurance Expense Prepaid Insurance 31 Rent Expense Prepaid Rent 300 300 3,000 3,000 31 Office Supplies Expense Office Supplies 900 31 Depreciation Expense Accumulated Depreciation 325 31 Salary Expenses SalaryPayable 525 900 325 525 Trap Adventures, Inc. Adjusted Trial Balance December 31, 2015 Cash Prepaid Rent Prepaid Insurance Office Supplies Office Equipment Accumulated Depreciation Accounts Payable Salary Payable Common Stock Dividends Commission Revenue Salary Expense Repair Expense Telephone Expense Insurance Expense Rent Expense Office Supplies Expense Depreciation Expense $ 48,225 18,000 3,600 1,500 17,500 $ 325 1,500 525 60,000 3,000 54,000 Totals $ 525 350 450 300 3,000 900 325 97,675 $ 116,350 Trap Adventures, Inc. Income Statement For the year ended December 31, 2015 Revenues: $ - Expenses: Total Expenses - Net Income $ - Trap Adventures, Inc. Statement of Stockholder's Equity For the year ended December 31, 2015 Common Stock Beginning Balance, December 1, 2015 $ - Totral Stockholder's Equity Retained Earnings $ - $ - Ending Balance, December 31, 2015 $ Trap Adventures, Inc. - $ - $ - Balance Sheet December 31, 2015 Assets Liabilities Current Assets: Current Liabilities: $ Total Current Liabilities Total Current Assets $ - $ - $ - Long-term Assets: Stockholder's Equity Total Long-term Assets Total Assets $ $ - $ - Total Stockholder's Equity - Total Liabilities and Stockholder's - Equity $ - NOTE that there are THREE Statements i Statements included on this sheet. Dec 31 Retained Earnings Salary Expense Repair Expense Telephone Expense Insurance Expense Rent Expense Office Supplies Expense Depreciation Expense 525 350 450 300 3000 9000 325 31 Commission Revenue Retained Earnings 31 Retained Earnings Dividends 3000 Trap Adventures, Inc. Post-Closing Trial Balance December 31, 2015 Totals $ - $ - NOTE that this tab should be used for the wr Answer two of the questions below in 1-2 fully developed paragraphs. A fully developed paragraph should two sentences is not acceptable or does not discuss the question. Be sure to show what you know!!! 1. Trap Adventures, Inc. is looking for an accountant. In your own words, explain to Trap's hiring team the role of Provide examples of the expectations of the accountant. 2. Discuss the fnancial position of Trap Adventures, Inc using the following ratios: Current ratio Return on equity For each ratio, provide the calculation and an explanation of the meaning. Is this a positive or negative result for the Trap Adventures, Inc.? 3. Using Trap Adventures, Inc.'s income statement, evaluate the operations for the month of December. Complete a commo What is the largest percentage? What is the smallest percentage? What recommendations could be made to increase Trap's net income? 4. Currently, Trap Adventures, Inc. does not own any loans or bank notes (long-term liabilities). What would happen if Trap decides to obtain a bank loan for $25,000 to fund daily operations? How would this transaction impact the fnancial statements - which accounts would be afected? What is the debt to equity ratio? What does the debt to equity ratio represent? be used for the writing portion of the Unit 5 IP Assignment. ly developed paragraph should have a major point with 3 to 5 support sentences. One or at you know!!! Trap's hiring team the role of accountant and accounting within business. December. Complete a common-size income statement using sales as the base number