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The following items are taken from the monthly adjusted trial balance prepared as of December 31, 2021 for Donkey, Inc. All accounts have normal balances.
The following items are taken from the monthly adjusted trial balance prepared as of December 31, 2021 for Donkey, Inc. All accounts have normal balances. Prepare a detailed Income Statement, Statement of Retained Earnings and Balance Sheet in proper order and properly labeled using the below tables for Donkey Corp.
2222 Cash Expenses Common Stock Unearned Revenue Dividends Beginning Retained Earnings | Prepaid Rent $20,000 $10,000 $10,000 $5,000 $50,000 $5,000 Cost of Goods Sold Accounts Payable Sales Revenue Accumulated Depreciation Sales Returns and Allowances Accounts Receivable Property, Plant and Equipment $60,000 $20,000 $120,000 $10,000 $20,000 $15,000 $30,000Step by Step Solution
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