Question
Question four: the following balances of ledger accounts on December 31, 2018 after preparing the adjustments: Property, plant and equipment 80,000 Supplies 6,000 accounts receivable
Question four: the following balances of ledger accounts on December 31, 2018 after preparing the adjustments: Property, plant and equipment 80,000 Supplies 6,000 accounts receivable 30,000 cash 20,000 insurance expense 6000 salaries expense 7000 rent expense 4000 - accounts payable 15,000 notes payable 20,000 - service revenue 40,000 share capital 57,000 retained earnings 20,000 dividends 15,000 salaries payable 4000 prepaid insurance 3000 depreciation expense 5000 accumulated depreciation 20,000 Then prepare: -
Prepare the income statement. -
Prepare the retained earnings statement. -
prepare the balance sheet (statement of financial position).
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started