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Please help me to finish the question 1a, 1b and 1c! I need to fill out the table The adjusted trial balance for Chiara Company
Please help me to finish the question 1a, 1b and 1c! I need to fill out the table
The adjusted trial balance for Chiara Company as of December 31, 2015, follows. |
Debit | Credit | |||||
Cash | $ | 30,000 | ||||
Accounts receivable | 52,000 | |||||
Interest receivable | 18,000 | |||||
Notes receivable (due in 90 days) | 168,000 | |||||
Office supplies | 16,000 | |||||
Automobiles | 168,000 | |||||
Accumulated depreciationAutomobiles | $ | 50,000 | ||||
Equipment | 138,000 | |||||
Accumulated depreciationEquipment | 18,000 | |||||
Land | 78,000 | |||||
Accounts payable | 96,000 | |||||
Interest payable | 20,000 | |||||
Salaries payable | 19,000 | |||||
Unearned fees | 30,000 | |||||
Long-term notes payable | 138,000 | |||||
Common stock | 20,000 | |||||
Retained earnings | 235,800 | |||||
Dividends | 46,000 | |||||
Fees earned | 484,000 | |||||
Interest earned | 24,000 | |||||
Depreciation expenseAutomobiles | 26,000 | |||||
Depreciation expenseEquipment | 18,000 | |||||
Salaries expense | 188,000 | |||||
Wages expense | 40,000 | |||||
Interest expense | 32,000 | |||||
Office supplies expense | 34,000 | |||||
Advertising expense | 58,000 | |||||
Repairs expenseAutomobiles | 24,800 | |||||
Totals | $ | 1,134,800 | $ | 1,134,800 | ||
References Section BreakProblem 3-5A Preparing financial statements from the adjusted trial balance and calculating profit margin LO P3, A1
11. value:
5.00 points Required information
Problem 3-5A Part 1
Required: |
1(a) | Prepare the income statement for the year ended December 31, 2015. |
1(b) | Prepare the statement of retained earnings for the year ended December 31, 2015. |
1(c) | Prepare Chiara Company's balance sheet as of December 31, 2015. |
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