Question
Prepare the Income Statement, the Retained Earning Statement , the Classified Balance Sheet, and the Closing Entries using the adjusted trial balance for Stockton Company.
Prepare the Income Statement, the Retained Earning Statement , the Classified Balance Sheet, and the Closing Entries using the adjusted trial balance for Stockton Company.
Stockton Company | ||
Adjusted Trial Balance | ||
For the Year ended December 31, 2018 | ||
|
|
|
Cash | $ 6,030 |
|
Accounts Receivable | 2,100 |
|
Prepaid Expenses | 700 |
|
Land | 10,000 |
|
Equipment | 13,700 |
|
Accumulated Depreciation |
| $ 1,100 |
Accounts Payable |
| 1,900 |
Notes Payable, |
| 4,200 |
Common Stock |
| 10,000 |
Retained Earnings |
| 12,150 |
Fees Earned |
| 8,750 |
Wages Expense | 2,500 |
|
Rent Expense | 1,960 |
|
Utilities Expense | 775 |
|
Depreciation Expense | 250 |
|
Miscellaneous Expense | 85 |
|
Totals | $38,100 | $38,190 |
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