Question
The adjusted Trial balance of GaLochka Co as of December 31, 2018, is presented below. GaLochka Co Adjusted Trial Balance December 31, 2018 Cash 37,944
The adjusted Trial balance of GaLochka Co as of December 31, 2018, is presented below.
GaLochka Co Adjusted Trial Balance December 31, 2018 | ||
Cash | 37,944 |
|
Accounts Receivable | 13,840 |
|
Prepaid Rent | 4,560 |
|
Equipment | 36,100 |
|
Accumulated Depreciation Equipment |
| 9,790 |
Notes Payable |
| 11,400 |
Accounts Payable |
| 8,944 |
Interest Payable |
| 166 |
Share Capital Ordinary |
| 40,000 |
Retained Earnings |
| 22,620 |
Dividends | 6,000 |
|
Service Revenue |
| 25,180 |
Salaries and Wages Expense | 13,680 |
|
Rent Expense | 5,520 |
|
Depreciation Expense | 290 |
|
Interest Expense | 166 |
|
|
|
|
TOTAL | 118,100 | 118,100 |
Instructions:
1. Prepare income statement
2. Prepare a retained earnings statement
3. Prepare a classified balance sheet
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