Plevin Company ended its fiscal year on July 31, 2017. The company's adjusted trial balance as of
Question:
Plevin Company ended its fiscal year on July 31, 2017. The company's adjusted trial balance as of the end of its fiscal year is shown below.
No. Account Titles Debit Credit
101 Cash $9,840
112 Accounts Receivable 8,780
157 Equipment 15,900
158 Accumulated DepreciationEquip. $7,400
201 Accounts Payable 4,220
208 Unearned Rent Revenue 1,800
311 Common Stock 20,000
320 Retained Earnings 25,2003
32 Dividends 16,000
400 Service Revenue 64,000
429
Rent Revenue 6,500
711 Depreciation Expense 8,000
726 Salaries and Wages Expense 55,700
732 Utilities Expense 14,900
$129,120 $129,120
Prepare an income statement for the year.(Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Prepare an retained earnings statement for the year.
Prepare a classified balance sheet at July 31.(List Current Assets in order of liquidity.)
Assets Liabilities and Stockholders' Equity
Financial Accounting
ISBN: 978-1119305736
10th edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel