Please answer question C.
Problem 4-02A a-e (Part Level Submission) The adjusted trial balance columns of the worksheet for Ayayai Company are as follows. . 130 157 Ayayai Company Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Account No. Account Titles Dr. Cr. 101 Cash 5,000 112 Accounts Receivable 10,500 126 Supplies 1,200 Prepaid Insurance 1,800 Equipment 26,500 158 Accumulated Depreciation-Equipment 5,000 200 Notes Payable 12,000 201 Accounts Payable 5,800 212 Salaries and Wages Payable 2,100 Interest Payable 500 311 Common Stock 9,500 320 Retained Earnings 3,000 Dividends 6,300 400 Service Revenue 61,100 610 Advertising Expense 8,000 631 Supplies Expense 3,700 Depreciation Expense 5,000 Insurance Expense 3,000 726 Salaries and Wages Expense 27,500 Interest Expense 500 Totals 99,000 99,000 230 332 711 722 Your answer is correct. Complete the worksheet by extending the balances to the financial statement columns Ayayal Company Worksheet For the Year Ended December 31, 2019 Adjusted Trial Income Statement Balance Balance Sheet Account No. Account Titles Dr. CE 101 Cash $5,000 5,000 Accounts Receivable 10,500 1 Supplies 1,200 Prepaid Insurance 1,800 Equipment 26,500 JUDDDDDDT: 26,500 Accumulated Depreciation Equipment 5,000 Notes Payable 12,000 12,000 Accounts Payable 5.800 Salaries and Wages Payable 2.100 1 230 Interest Payable Weygandt, Financial and Managerial, 3e Help System Announcements Common Stock 9,500 9,500 Retained Earings 3,000 Dividends 6,300 Service Revenue 61.100 Advertising Expense 8.000 Supplies Expense 3,700 Depreciation Expense 5,000 HDVIDULTEUIL Insurance Expense 3,000 Salaries and Wages Expense 27,500 905 Interest Expense 500 Totals 99,000 90.000 Net Income Totals 61,100 T 51,300 51,300 Your answer is partially correct. Prepare an income statement. (Enter negative amounts using either a negative sign preceding the number ... 45 or parentheses e.g. (45).) Ayayai Company Income Statement For the Year Ended December 31, 2019 Revenues T service revenue Texpenses T advertising expense | supplies expense salaries and wages 27,500 expense 5,000 depreciation expense insurance expense 500 Expenses Net Income / (Loss) Part (62) Your answer is partially correct. tudy. Prepare a retained earnings statement. (List items that increase retained earnings first.) Ayayai Company Retained Earnings Statement For the Year Ended December 31, 2019 TRetained Earnings, January 1 3,000 Less 1 Net Income / (Loss) 13,400 Add Dividends 6,300 Retained Earnings, January 1 16,700 Click if you would like to Show Work for this question: Open Show Work (13) Your answer is partially correct Prepare a classified balance sheet. (Note: $4,000 of the notes payable become due in 2020.) (List Current Assets in order of liquidity. Ayayai Company Balance Sheet December 31, 2019 Assets Current Assets | Cash 1 5,000 10,500 Accounts Receivable Supplies 1,200 1,800 Prepaid Insurance Total Current Assets 18,500 Total Intangible Assets Equipment 26,500 Accumulated Depreciation 1 5,000 21,500 Total Assets 40,000 Liabilities and Stockholders' Equity Current Liabilities | Accounts Payable 5,800 Unpaid Dividend -6,300 | Salaries and Wages Payable 21,00 Interest Payable 500 T Total Current Liabilities 2,100 | Total Long-term Liabilities Notes Payable 12,000 T Total Liabilities 14,100 stockholders' Equity Common Stock T Retained Earnings 9,500 16,400 Total Stockholders' Equity 25,900 Total Liabilities and Stockholders' Equity 40,000 (c) Prepare the closing entries. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Dec. 31 (To close revenue account.) Dec 31 (Todose expense accounts.) Dec 31 (To cose net income / (loss).) Dec. 31 (To dose dividends.)
