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Please show any work if its not just addition and subtraction. 2. Comparative Classified Income Statement (for the years ended December 31, 2019 and 2020)
Please show any work if its not just addition and subtraction.
2. Comparative Classified Income Statement (for the years ended December 31, 2019 and 2020) Royal Rental, Inc. Adjusted Trial Balance For the year ended December 31, 2020 Adjustments Debit Credit Unadjusted Debit Credit 245,811 15,050 16,000 5,000 500 450,000 39,000 1,015 16,800 5,000 2,700 320 44,000 16,800 6,750 8 Cash 9 Accounts Receivable 10 Prepaid Rent 11 Prepaid Insurance 12 Prepaid Supplies 13 Equipment 14 Accumulated Depreciation 15 Accounts Payable 16 Accrued Interest 17 Accrued Salaries 18 Unearned Rental Revenue 19 Note Payable - Long-term 20 Capital Stock - Mike 21 Capital Stock - Julie 22 Dividends 23 Retained Earnings 24 Rental Revenue 25 Salary Expense 26 Rent Expense 27 Repairs Expense Adjusted Debit Credit 245,811 15,050 11,000 2,300 180 450,000 83,000 1,015 33,600 6,750 5,450 350,000 80,000 80,000 4,000 32,142 171,950 26,400 5,000 7,800 13,250 350,000 80,000 80,000 4,000 32,142 164,150 800 19,650 6,750 5,000 28 Utilities Expense 29 Interest Expense 30 Depreciation Expense 31 Supplies Expense 32 Insurance Expense 33 Income Tax Expense 16,800 44,000 320 2,700 535 16,800 44,000 320 2,700 19,811 19,811 34 35 Total 776,357 776,357 83,370 83,370 843,907 843,907 Royal Rental, Inc. Adjusted Trial Balance For the year ended December 31, 2019 Adjustments Debit Credit Adjusted Debit Credit 193,892 18,000 Unadjusted Debit Credit 193,892 18,000 30,000 2,700 6,000 400,000 30,000 2,700 3,480 2,520 400,000 39,000 16,800 6,600 Cash Accounts Receivable Prepaid Rent Prepaid Insurance 1 Prepaid Supplies 2 Equipment 3 Accumulated Depreciation 4 Accounts Payable 5 Accrued Interest Accrued Salaries 7 Unearned Rental Revenue 3 Note Payable - Long-term Capital Stock - Mike Capital Stock - Julie 1 Dividends 2 Retained Earnings 3 Rental Revenue 4 Salary Expense 5 Rent Expense 5 Repairs Expense 7 Utilities Expense 39,000 970 16,800 6,600 8,900 350,000 80,000 80,000 8,600 17,500 350,000 80,000 80,000 4,000 4,000 159,300 8,600 167,900 19,400 6,600 30,000 26,000 30,000 520 560 520 560 28 Interest Expense 29 Depreciation Expense 30 Supplies Expense 31 Insurance Expense 32 Income Tax Expense 16,800 39,000 3,480 2,700 16,800 39,000 3,480 2,700 12,698 12,698 33 687,770 687,770 107,180 107,180 750,170 750,170 34 Total 35
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