Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The adjusted trial balance for Carla Vista Co. is given below Trial Balance August 31, 2017 Before Adjustment After Adjustment Dr. Cr. Dr. Cr. Cash

The adjusted trial balance for Carla Vista Co. is given below

Trial Balance

August 31, 2017

Before Adjustment After Adjustment

Dr. Cr. Dr. Cr.

Cash $11,000 $11,000

Accounts Receivable 8,040 8,690

Supplies 2,870 1,100

Prepaid Insurance 4,000 2,550

Equipment 16,480 16,480

Accumulated Depreciation-Equipment 3,708 4,908

Accounts Payable 5,210 5,210

Salaries and Wages Payable 0 1,380

Unearned Revenue 2,200 1,250

Common Stock 18,120 18,120

Retained Earnings 5,080 5,080

Dividends 2,640 2,640

Service Revenue 34,080 34,730

Rent Revenue 12,500 13,450

Salaries and Wages Expense 16,580 17,960

Supplies Expense 0 1,770

Rent Expense 19,288 19,288

Insurance Expense 0 1,450

Depreciation Expense 0 1,200

$80,898 $80,898 $84,128 $84,128

(a) Prepare the income statement for the year ended August 31.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Basel III, The Devil And Global Banking

Authors: D. Chorafas

2nd Edition

0230353770, 9780230353770

More Books

Students also viewed these Accounting questions