Prepare Financial Statements for Company Y

Question 1 (10 points) Prepare Financial Statements for Company Y. Adjusted Trial Balance Cash Accounts receivable Prepaid insurance Land Accounts payable Salaries payable Common stock Retained earnings Dividends Service revenue Insurance expense Salaries expense Miscellaneous expense Debit $ 32,000 17,300 6,400 10,000 8,000 5,600 24,000 22,800 126,100 Credit $ 10,900 6,000 31 ,ooo 4,200 74,000 126,100