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The trial balance of Cohen Construction Co. at June 30, 20X3, follows. COHEN CONSTRUCTION CO. Trial Balance June 30, 20X3 Cash 21,200 Accounts receivable 37,820
The trial balance of Cohen Construction Co. at June 30, 20X3, follows.
COHEN CONSTRUCTION CO. | ||
Trial Balance | ||
June 30, 20X3 | ||
Cash | 21,200 | |
Accounts receivable | 37,820 | |
Supplies | 17,660 | |
Prepaid insurance | 2,300 | |
Equipment | 32,690 | |
Accumulated depreciationequipment | 26,240 | |
Building | 42,890 | |
Accumulated depreciationbuilding | 10,500 | |
Land | 28,300 | |
Accounts payable | 22,690 | |
Interest payable | ||
Wage payable | ||
Unearned service revenue | 10,560 | |
Note payable, long-term | 22,400 | |
Lynn Cohen, capital | 79,130 | |
Lynn Cohen, withdrawals | 4,200 | |
Service revenue | 20,190 | |
Depreciation expenseequipment | ||
Depreciation expensebuilding | ||
Wage expense | 3,200 | |
Insurance expense | ||
Interest expense | ||
Utilities expense | 1,110 | |
Advertising expense | 340 | |
Supplies expense | ||
Total | Rs.191,710 | Rs.191,710 |
Additional data at June 30, 20X3: | ||
i. Depreciation: equipment, Rs.630; building, Rs.370. | ||
j. Accrued wage expense, Rs.240. | ||
k. Supplies on hand, Rs.14,370 | ||
l. Prepaid insurance expired during June, Rs.500. | ||
m. Accrued interest expense, Rs.180. | ||
n. Unearned service revenue earned during June, Rs.4,970. | ||
o. Accrued advertising expense, Rs.100 (credit Accounts Payable). | ||
p. Accrued service revenue, Rs.1,100. | ||
Required | ||
a) Income Statement | ||
b) Balance Sheet. | ||
1) Find out the following ratios | ||
a. Liquidity | ||
b. Profitability | ||
c. Leverage | ||
d. Efficiency ratio/Asset Activity |
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