Question
Pina Colada Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is
Pina Colada Company ended its fiscal year on July 31, 2019. The company's adjusted trial balance as of the end of its fiscal year is shown below.
Pina Colada Company
Adjusted Trial Balance
July 31, 2019
No.
Account Titles
Debit
Credit
101Cash$10,700
112Accounts Receivable9,200
157Equipment16,300
158Accumulated DepreciationEquip.$7,200
201Accounts Payable4,000
208Unearned Rent Revenue1,700
311Common Stock18,900
320Retained Earnings30,100332Dividends16,200
400Service Revenue64,700
429
Rent Revenue6,000
711Depreciation Expense9,200
726Salaries and Wages Expense56,200
732Utilities Expense14,800
$132,600
$132,600
Write income statement for the year.(Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Pina Colada Company
Income Statement
For the Year Ended July 31, 2019
July 31, 2019
For the Month Ended July 31, 2019
Dividends
Expenses
Net Income / (Loss)
Retained Earnings, August 1, 2016
Retained Earnings, July 31, 2017
Revenues
Total Expenses
Total Revenues
$
Dividends
Expenses
Net Income / (Loss)
Retained Earnings, August 1, 2016
Retained Earnings, July 31, 2017
Revenues
Total Expenses
Total Revenues
$
Dividends
Expenses
Net Income / (Loss)
Retained Earnings, August 1, 2016
Retained Earnings, July 31, 2017
Revenues
Total Expenses
Total Revenues
$
Dividends
Expenses
Net Income / (Loss)
Retained Earnings, August 1, 2016
Retained Earnings, July 31, 2017
Revenues
Total Expenses
Total Revenues
Dividends
Expenses
Net Income / (Loss)
Retained Earnings, August 1, 2016
Retained Earnings, July 31, 2017
Revenues
Total Expenses
Total Revenues
$
Prepare an retained earnings statement for the year.
Pina Colada Company
Retained Earnings Statement
For the Month Ended July 31, 2019
For the Year Ended July 31, 2019
July 31, 2019
Dividends
Expenses
Net Income / (Loss)
Retained Earnings, August 1, 2018
Retained Earnings, July 31, 2019
Revenues
Total Expenses
Total Revenues
$
Less
Add
:
Dividends
Expenses
Net Income / (Loss)
Retained Earnings, August 1, 2018
Retained Earnings, July 31, 2019
Revenues
Total Expenses
Total Revenues
$
Less
Add
:
Dividends
Expenses
Net Income / (Loss)
Retained Earnings, August 1, 2018
Retained Earnings, July 31, 2019
Revenues
Total Expenses
Total Revenues
Dividends
Expenses
Net Income / (Loss)
Retained Earnings, August 1, 2017
Retained Earnings, July 31, 2018
Revenues
Total Expenses
Total Revenues
$
Prepare a classified balance sheet at July 31.(List Current Assets in order of liquidity.)
Pina Colada Company
Balance Sheet
For the Year Ended July 31, 2019
July 31, 2019
For the Month Ended July 31, 2019
Assets
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-Term Liabilities
Total Property, Plant and Equipment
Total Stockholders' Equity
$
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-Term Liabilities
Total Property, Plant and Equipment
Total Stockholders' Equity
$
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-Term Liabilities
Total Property, Plant and Equipment
Total Stockholders' Equity
Add
Less
:
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-Term Liabilities
Total Property, Plant and Equipment
Total Stockholders' Equity
$
Liabilities and Stockholders' Equity
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-Term Liabilities
Total Property, Plant and Equipment
Total Stockholders' Equity
$
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-Term Liabilities
Total Property, Plant and Equipment
Total Stockholders' Equity
$
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-Term Liabilities
Total Property, Plant and Equipment
Total Stockholders' Equity
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-Term Liabilities
Total Property, Plant and Equipment
Total Stockholders' Equity
Current Assets
Current Liabilities
Intangible Assets
Long-term Investments
Long-term Liabilities
Property, Plant and Equipment
Stockholders' Equity
Total Assets
Total Current Assets
Total Current Liabilities
Total Intangible Assets
Total Liabilities
Total Liabilities and Stockholders' Equity
Total Long-term Investments
Total Long-Term Liabilities
Total Property, Plant and Equipment
Total Stockholders' Equity
$
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Accounting Theory Conceptual Issues in a Political and Economic Environment
Authors: Harry I. Wolk, James L. Dodd, John J. Rozycki
9th edition
9781483375014, 1483375013, 9781506300108, 1506300103, 978-1483375021
