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QS 3-19 (Algo) Preparing financial statements LO P5 The adjusted trial balance for Happ Company follows. Adjusted Trial Balance December 31 Number Account Title
QS 3-19 (Algo) Preparing financial statements LO P5 The adjusted trial balance for Happ Company follows. Adjusted Trial Balance December 31 Number Account Title 101 Cash 106 Accounts receivable 153 154 183 Land 201 209 233 Trucks Accumulated depreciation-Trucks Accounts payable Salaries payable Unearned revenue 307 Common stock 318 Retained earnings 319 Dividends 401 Plumbing revenue 611 Depreciation expense-Trucks 622 Salaries expense 640 Debit $ 8,800 38,456 42,500 Credit $ 17,085 30,000 20,504 4,690 4,090 20,000 50,832 15,310 62,000 5,695 29,016 9,424 Rent expense Totals $ 179,201 $ 179,201 a. Use the adjusted trial balance to prepare the December 31 year-end income statement. b. Use the adjusted trial balance to prepare the December 31 year-end statement of retained earnings. The Retained earnings account balance was $50,832 on December 31 of the prior year. c. Use the adjusted trial balance to prepare the December 31 year-end balance sheet. Complete this question by entering your answers in the tabs below.
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