Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The Adjusted Trial Balance for Planta Company follows. Complete the work sheet by extending the account balances into the appropriate financial statement columns and by
The Adjusted Trial Balance for Planta Company follows. Complete the work sheet by extending the account balances into the appropriate financial statement columns and by entering the amount of net income for the reporting period. PLANTA COMPANY Work Sheet Adjusted Trial Balance Income Statement Dr. Cr. Balance Sheet and Statement of Owner's Equity Dr. Cr. No. cr. $ Dr. 8,600 37,582 43,000 r $ 17,286 30,000 Account Title 101 Cash 106 Accounts receivable 153 Trucks 154 Accumulated depreciation-Trucks 183 Land 201 Accounts payable 209 Salaries payable 233 Unearned fees 301 F. Planta, Capital 302 F. Planta, Withdrawals 401 Plumbing fees earned 611 Depreciation expense Trucks 622 Salaries expense 640 Rent expense 677 Miscellaneous expenses Totals Net income Totals 20,038 4,584 3,984 70,485 16,813 90,000 5,762 42,120 13,680 8,820 $ 206,377 $206,377 0 0 $ 0 $ 0
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