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Please help, Below is the trial balance for Money Accounting Services Inc. Use the trial balance to prepare the following financial statement: Income Statement, Statement
Please help,
Below is the trial balance for Money Accounting Services Inc. Use the trial balance to prepare the following financial statement: Income Statement, Statement of Retained Earnings, and Balance Sheet.
Money Accounting Services, Inc
Trial Balance
For the year ended December 31, 2019
No | Account Name | Debit | Credit |
101 | Cash | 29,063.50 | |
111 | Accounts Receivable | 16,475.00 | |
121 | Supplies | 4,145.00 | |
122 | Prepaid Insurance | 1,450.00 | |
132 | Equipment | 64,375.00 | |
201 | Accounts Payable | 5,875.00 | |
213 | Notes Payable | 15,40000 | |
301 | Capital Stock | 28,000.00 | |
302 | Retained Earnings | 30,000.00 | |
303 | Dividends | 2,000.00 | |
401 | Income from Services | 124,800.00 | |
500 | Rent Expense | 31,000.00 | |
501 | Salaries and Wages Expense | 36,371.50 | |
506 | Utility Expense | 10,450.00 | |
507 | Selling Expense | 8,745.00 | |
204,075.00 | 204,075.00 |
Use the following for Income Statement, Statement of Owner's Equity, and Balance Sheet.
Thank you
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