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The following Adjusted Trial Balance shows the various items that regularly appear on the financial statements of Great Movies Theatres Corp. The amounts shown for
The following Adjusted Trial Balance shows the various items that regularly appear on the financial statements of Great Movies Theatres Corp. The amounts shown for balance sheet items are balances as of September 30, 2020 (with the exception of retained earnings, which is the balance on September 1, 2020), and the amounts shown for income statement items are balances for the month ended September 30, 2020. Debit Credit Cash and Cash Equivalents 15,230 Accounts receivable 4,410 Prepaid Rent 2,000 Buildings 60,000 Furniture and Fixtures 34,000 Projection equipment 25,000 Land 26,000 Accounts payable 14,600 Wages payable 3,000 Notes Payable (720 day term) 20,000 Common Stock, no par value 50,000 Retained earnings 73,780 Dividends paid during the month 8,400 Ticket sales/revenues 95,100 Concessions sales/revenues 60,300 Rent expense - movies 50,600 Salaries and wages expense 46,490 Concessions food expenses 23,450 Advertising expense 14,500 Utilities expense 6,700 Totals 316,780 316,780 REQUIREMENTS - USING THE EXCEL WORKBOOK "TABS" BELOR 1. Prepare in good form an income statement (service company) for the month ended September 30, 2020 2. Prepare in good form a statement of retained earnings for the month ended September 30, 2020 3. Prepare in good form a classified balance sheet as of September 30, 2020 4. On all statements use proper formatting (e.g. $'s, underlines, double underlines, etc.) 5. On all statements sub-totals and totals (e.g. Total Revenues, Current Assets, etc.) should be excel formulas (e.g. =sum(A1:C1))
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