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Presented below is the adjusted trial balance of CarryIT Inc. Prepare the following: a. Income Statement (multiple-step format) b. Retained Earnings Statement c. Balance Sheet
Presented below is the adjusted trial balance of CarryIT Inc. Prepare the following: a. Income Statement (multiple-step format) b. Retained Earnings Statement c. Balance Sheet (classified format) Carry IT Inc. Trial Balance 12/31/2018 Debit Credit Cash 5 300,000 Accounts Receivable 600,000 Allowance for Doubtful Accounts 30,000 Inventory 830,000 Supplies 60,000 Equipment 1,550,000 Accumulated Deperciation - Equipment 220,000 Building 900,000 Accumulated Deperciation - Building 450,000 Land 210,000 Patent 1,500,000 Long-Term Investments 1,290,000 Accounts Payable 540,000 Salaries and Wages Payable 20,000 Mortgage Payable 700,000 Bonds Payable 2,000,000 Common Stock 50.20 150,000 APIC 840,000 Retained Earnings 2,250,000 Dividends 240,000 Sales Revenue 2,680,000 Sales Discounts 150,000 COGS 1,590,000 Selling Expenses 210,000 Administrative Expenses 310,000 Rent Revenue 50,000 Gain on Sale of Equipment 10,000 Income Tax Expense 200,000 S 9,940,000 9,940,000
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