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Prepare a Statement of Cash Flows KEYSTONE HOME & BUSINESS SECURITY INC. TRIAL BALANCE YEAR ENDED DECEMBER 31, 2019 & 2018 2019 2018 DR CR
Prepare a Statement of Cash Flows
KEYSTONE HOME & BUSINESS SECURITY INC. TRIAL BALANCE YEAR ENDED DECEMBER 31, 2019 & 2018 2019 2018 DR CR DR CR SALES $ 430,000 SALES DISCOUNTS $ 15,000 COST OF SALES 125,000 SALARIES & WAGES 150,000 RENT 24,000 PAYROLL TAXES 10,000 UTILITIES 9,500 DEPRECIATION 7.000 REPAIRS 13,000 MISCELLANOUS 5.100 INTEREST EXPENSE 20,000 RENT INCOME 40,000 INCOME FROM DISPOSITION 40,000 DIVIDENDS 50,000 CASH 30,000 $ 10,000 ACCOUNTS RECEIVABLE 150.000 70,000 MERCHANDISE 77,000 55,000 PATENT 20,000 15,000 PREPAID INSURANCE 8,000 10,000 BUILDING 150,000 150,000 PREPAID TAXES 10,000 600 OFFICE EQUIPMENT 20.000 20,000 ACCUMULATED DEPRECIATION OFFICE 8,000 5.000 ACCUMULATED DEPRECIATION-BLDG 33,000 30,000 ACCOUNTS PAYABLE 17,000 40,000 NOTES PAYABLE 15,000 20,000 MORTGAGE PAYABLE 150,000 75,000 CAPITAL STOCK 50,000 50,000 RETAINED EARNINGS 1-1-2016 110,600 110,600 $ 893,600 $ 893,600 $ 330,600 $ 330,600 $ $ PREPARE BALANCE SHEET, RETAINED EARNINGS, INCOME STATEMENT & CASH FLOWS Step by Step Solution
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