Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The adjusted trial balance for Tybalt Construction on December 31 of the current year follows. TYBALT CONSTRUCTION Adjusted Trial Balance December 31 Number Account

image text in transcribedimage text in transcribed

The adjusted trial balance for Tybalt Construction on December 31 of the current year follows. TYBALT CONSTRUCTION Adjusted Trial Balance December 31 Number Account Title Debit Credit 101 Cash 104 Short-term investments $ 5,500 23,500 126 Supplies 9,600 128 Prepaid insurance 8,300 167 168 173 174 183 201 Equipment Accumulated depreciation-Equipment Building Accumulated depreciation-Building Land Accounts payable 60,000 $ 30,000 162,000 54,000 50,220 16,500 203 Interest payable 2,500 208 Rent payable 3,200 210 Wages payable 2,700 213 Property taxes payable 1,100 236 Unearned revenue 7,200 244 Current portion of long-term note payable 7,000 251 Long-term notes payable 58,000 307 Common stock 5,500 318 Retained earnings 123,900 319 Dividends 11,400 404 Services revenue 101,000 406 Rent revenue 16,000 407 Dividends revenue 2,300 409 Interest revenue 2,300 606 Depreciation expense-Building 11,880 612 Depreciation expense-Equipment 9,000 623 Wages expense 29,000 633 Interest expense 4,100 637 Insurance expense 7,800 640 Rent expense 11,700 652 Supplies expense 7,200 682 683 684 Postage expense Property taxes expense Repairs expense 4,100 3,700 8,800 688 Telephone expense 2,300 690 Utilities expense 3,100 Totals $ 433,200 $ 433,200 Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 1C Required 2 Prepare the statement of retained earnings for the current year ended December 31. TYBALT CONSTRUCTION Statement of Retained Earnings For Year Ended December 31 Retained earnings, December 31 prior year end Retained earnings, December 31 current year end < Required 1A Required 1C >

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

Step: 3

blur-text-image

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

Cost management a strategic approach

Authors: Edward J. Blocher, David E. Stout, Gary Cokins

5th edition

73526940, 978-0073526942

More Books

Students also viewed these Accounting questions

Question

b. Who is the program director?

Answered: 1 week ago

Question

Problem 4: Graph the Quadratic Fur 5 -5 4-3 -2 -1 O 2 3 3 4

Answered: 1 week ago