Question
The following trial balance has been adjusted as of December 31, 20XX Debits Credits Cash $25,000 $- Accounts Receivable 6,000 - Supplies Inventory 4,500 -
The following trial balance has been adjusted as of December 31, 20XX Debits Credits Cash $25,000 $- Accounts Receivable 6,000 - Supplies Inventory 4,500 - Prepaid Rent 18,000 - Equipment 90,000 - Accumulated Depreciation - 2,500 Accounts Payable - 6,000 Utilities Payable - 4,000 Unearned Revenue - 1,500 Interest Payable - 150 Notes Payable - 24,000 Common Stock - 100,000 Service Revenue - 90,000 Wages Expense 35,000 - Supplies Expense 20,000 - Rent Expense 15,000 - Miscellaneous Expense 2,000 - Electricity Expense 2,400 - Telephone Expense 1,500 - Depreciation Expense 1,000 - Interest Expense 250 - Dividend 7,500 - Total $228,150 $228,150 Required: Points (1) Prepare an Income Statement 5 (2) Prepare a Statement of Retained Earnings 5 (3) Prepare a Balance Sheet 5
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