Question
The adjusted trial balance of Charles Cooper Co. as of December 31, 2020, contains the following. CHARLES COOPER CO. ADJUSTED TRIAL BALANCE DECEMBER 31, 2020
The adjusted trial balance of Charles Cooper Co. as of December 31, 2020, contains the following.
CHARLES COOPER CO. ADJUSTED TRIAL BALANCE DECEMBER 31, 2020 | ||||||
---|---|---|---|---|---|---|
Debit | Credit | |||||
Cash | $19,957 | |||||
Accounts Receivable | 7,405 | |||||
Prepaid Rent | 2,765 | |||||
Equipment | 18,535 | |||||
Accumulated Depreciation-Equipment | $5,380 | |||||
Notes Payable | 6,185 | |||||
Accounts Payable | 5,957 | |||||
Common Stock | 20,485 | |||||
Retained Earnings | 11,795 | |||||
Dividends | 3,485 | |||||
Service Revenue | 12,075 | |||||
Salaries and Wages Expense | 7,325 | |||||
Rent Expense | 2,222 | |||||
Depreciation Expense | 183 | |||||
Interest Expense | 121 | |||||
Interest Payable | 121 | |||||
$61,998 | $61,998 |
a) Prepare an income statement. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
b) Prepare a statement of retained earnings
c) Prepare a classified balance sheet
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