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The adjusted trial balance for McDaniel's Tailor Shop, Inc. a corporation, as of January 31, 2023 appears on the page marked Problem 1 -
The adjusted trial balance for McDaniel's Tailor Shop, Inc. a corporation, as of January 31, 2023 appears on the page marked "Problem 1 - Adjusted Trial Balance." A. Prepare the Income Statement for McDaniel's Shop for January 2023 on the template marked "Problem 1 - Income Statement." B. Prepare the Statement of Retained Earnings for McDaniel's Tailor Shop, Inc. for January 2023 on the template marked "Problem 1- Statement of Retained Earnings. C. Prepare the Balance Sheet for McDaniel's Tailor Shop, Inc. as of January 31, 2023 in the report format on the template marked "Problem 1-Balance Sheet." D. Journal the closing entries for McDaniel's Tailor Shop, Inc. for the month of January 2023 on the template marked "Problem 1-Journal." Problem 1 - Adjusted Trial Balance McDaniel's Tailor Shop, Inc. Adjusted Trial Balance January 31, 2023 Cash Accounts Receivable Supplies Equipment Building Accumulated Depreciation-Equipment Accounts Payable Notes Payable Stockholders' Equity Retained Earnings Dividends Service Revenue Supplies Expense Utilities Expense Salaries Expense Totals Debits Credits $5,000 1,000 7,000 3,000 55,000 $1,000 4,000 25,000 30,000 5,000 3,000 10,000 500 300 200 $75,000 $75,000
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