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The adjusted trial balance for Wildhorse Co. is given below: WILDHORSE CO. Trial Balance August 31, 2017 Before Adjustment After Adjustment Dr. Cr. Dr. Cr.
The adjusted trial balance for Wildhorse Co. is given below:
WILDHORSE CO. Trial Balance August 31, 2017 | ||||||||
Before Adjustment | After Adjustment | |||||||
Dr. | Cr. | Dr. | Cr. | |||||
Cash | $10,720 | $10,720 | ||||||
Accounts Receivable | 8,450 | 9,040 | ||||||
Supplies | 2,520 | 1,310 | ||||||
Prepaid Insurance | 4,430 | 2,970 | ||||||
Equipment | 16,500 | 16,500 | ||||||
Accumulated DepreciationEquipment | $3,713 | $4,913 | ||||||
Accounts Payable | 5,410 | 5,410 | ||||||
Salaries and Wages Payable | 0 | 1,720 | ||||||
Unearned Rent Revenue | 2,160 | 1,270 | ||||||
Common Stock | 18,700 | 18,700 | ||||||
Retained Earnings | 5,700 | 5,700 | ||||||
Dividends | 2,500 | 2,500 | ||||||
Service Revenue | 33,920 | 34,510 | ||||||
Rent Revenue | 13,590 | 14,480 | ||||||
Salaries and Wages Expense | 16,920 | 18,640 | ||||||
Supplies Expense | 0 | 1,210 | ||||||
Rent Expense | 21,153 | 21,153 | ||||||
Insurance Expense | 0 | 1,460 | ||||||
Depreciation Expense | 0 | 1,200 | ||||||
$83,193 | $83,193 | $86,703 | $86,703 |
A-) Prepare the income statement for the year ended August 31.
B-) Prepare the retained earnings statements for the year ended August 31. (List items that increase retained earnings first.)
C-) Prepare the classified balance sheet at August 31. (List Current Assets in order of liquidity.)
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