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The following accounts are taken from Equilibrium Riding, Inc., a company that specializes in occupational therapy and horseback riding lessons, as of December 31. EQUILIBRIUM
The following accounts are taken from Equilibrium Riding, Inc., a company that specializes in occupational therapy and horseback riding lessons, as of December 31. EQUILIBRIUM RIDING, INC Unadjusted Trial Balance At December 31 Account Name Debits Credits 68,100 5,600 7,750 78,600 35,250 Cash Accounts Receivable Prepaid Insurance Equipment Land Accounts Payable Unearned Revenue Notes Payable (long-term) Common stock Retained Earnings Dividends Service Revenue Wages Expense Repairs and Maintenance Expense Office Expenses $ 30,600 2,650 78,000 5,000 59,020 26,000 4,500 905 565 Totals $201,270 $201,270 Required 1. Using the unadjusted trial balance provided, create an Income Statement for Equilibrium Riding, Inc., for the year ended December 31. EQUILIBRIUM RIDING, INC Income Statement 0
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