Question
: Rawlings guide services perform adjusting entries every month. The company's yearend adjusted trial balance dated December 31, 2019 follows. RawlingsGuide Services Inc. Adjusted Trial
: Rawlings guide services perform adjusting entries every month. The company's yearend adjusted trial balance dated December 31, 2019 follows.
RawlingsGuide Services Inc.
Adjusted Trial Balance
December 31, 2019
Cash $ 12200
Account receivable 31000
Camping supplies 7900
Unexpired insurance 2400
Equipment70,000
Accumulated depreciation: equipment $ 60000
Notes payable 18000
Accounts payable 9500
Capital stock 25000
Retained earnings 15000
Dividends1000
Guide revenue earned 102000
Salary expense 87500
Camping supplies expense1200
Insurance expense9600
Depreciation expense: equipment 5000
Interest expense 1700
Total$ 229,500$ 229,500
REQUIRED: Prepare income statement and statement of retained earnings for the year ended December 31, 2019. Also prepare balance sheet dated December 31, 2019
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