Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please prepare an income statement, retained earnings, and balance sheet. CALCULATOR STANDARD VIEW PRINTER VERSION BACK NEXT The adjusted trial balance of Nicks Financial Planners
please prepare an income statement, retained earnings, and balance sheet. CALCULATOR STANDARD VIEW PRINTER VERSION BACK NEXT The adjusted trial balance of Nicks Financial Planners appears below. Credit NICKS FINANCIAL PLANNERS Adjusted Trial Balance December 31, 2017 Debit Cash $15,400 Accounts Receivable 2,200 Supplies 1,800 Equipment 15,500 Accumulated Depreciation Equipment Accounts Payable Unearned Service Revenue Common Stock Retained Earnings Dividends 3,500 Service Revenue Supplies Expense 1,100 Depreciation Expense 2,500 Rent Expense 1,900 $43,900 $4,000 3,000 5,000 15,000 7,400 9,500 $43,900 Using the information from the adjusted trial balance, you are to prepare for the month ending December 31: An income statement. A retained earnings statement. (List items that increase retained earnings first.) NICKS FINANCIAL PLANNERS Retained Earnings Statement For the Month Ended December 31, 2017 A balance sheet. (List Current assets in order of liquidity.) NICKS FINANCIAL PLANNERS Balance Sheet December 31, 2017 Assets
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started