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The adjusted trial balance of Summer Rentals Limited as of December 31, 2022 is shown below: Summer Rentals Limited Adjusted Trial Balance December 31, 2022

The adjusted trial balance of Summer Rentals Limited as of December 31, 2022 is shown below:

Summer Rentals Limited

Adjusted Trial Balance

December 31, 2022

Cash

$5,820

Accounts Receivable

20,745

Prepaid Rent

675

Equipment

37,845

Accumulated Amortization

$11,120

Accounts Payable

6,800

Interest payable

1,065

Salary Payable

465

Income tax payable

4,400

Unearned service revenue

2,260

Note payable

18,100

Capital Stock

6,000

Retained earnings

10,190

Dividends

24,000

Sales

93,835

Selling, General and Administrative Expenses

31,120

Depreciation expense

5,650

Salary Expense

15,880

Rent expense

6,000

Interest expense

2,100

Income tax expense

4,400

Total

$154,235

$154,235

Required:

Prepare Summer Rentals Limiteds Income Statement, Statement of Retained Earnings and Balance Sheet.


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