Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Income statement, statement of cash flows, statement of stockholders equity and balance sheet Part II: Prepare 4 financial statements using the following trial balance and

image text in transcribed
image text in transcribed Income statement, statement of cash flows, statement of stockholders equity and balance sheet
Part II: Prepare 4 financial statements using the following trial balance and information of Prudential Security Service Ine Prudential Security Service, Inc TRIAL BALANCE December 31, 2018 Cash Petty Cash S 229.710 100 Accounts Receivable Allowance for Doubtful Accounts S 2,985 190 8,680 9,000 Merchandise Inventory Equipment Van Building Accumulated Depreciation Land 25,000 Employee Income Tax Payable 960 240 FICA - Social Security Tax Payable FICA - Medicare Tax Payable Sales Tax Payable Warranty Payable Unemployment Tax Payable Note Payable 1.050 1,813 945 85,017 50,000 Bonds Payable Preferred Stock Retained Earnings 600 Discount on Bonds Payable 52,000 90,000 124,816 Common Stock 17,500 Dividends Alarms Sales Monitoring Service Revenue 126,000 125,000 64,620 Cost of Goods Sold Advertising Expense Credit Card Expense Depreciation Expense Maintenance Expense Payroll Tax Expense 18,500 2,320 4,275 75 8,145 15 96,000 520 1,993 6,100 Office Supplies Expense Salaries Expense Supplies Expense Uncollectible Accounts Expense Utilities Expense Warranty Expense Interest Expense Total 2,520 9.693 i s694,576 | 694576 Other Information: Cash Beginning Balance Cash payment for expenses Cash payments for dividends Cash Receipts from customers213,980 Outflow to purchase equipment $68,598 141,368 17,500 9,000 27,000 90,000 52,000 Outflow to purchase van Common Stock Issued Preferred Stock Issued

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Best Practices

Authors: Steven M. Bragg

3rd Edition

0471444286, 978-0471444282

More Books

Students also viewed these Accounting questions

Question

=+a) What kind of study was this?

Answered: 1 week ago

Question

Items that you own that have a monetary value are referred to as

Answered: 1 week ago