INTRODUCTION TO ACCOUNTING EXTRA CREDIT Questions 3.28 through 3.32 that follow are based on the following December 31, 20X6 year-end account balances for XYZ Co, after adjusting entries had been prepared but before the books were closed for the year Cash 382,000 Accounts receivable.. 207,000 Prepaid insurance ...3,200 Prepaid rent. 16,000 Office supplies.. ..11.000 Equipment 200,000 Accumulated depreciation equipment... 155.000 Land. 190,000 Accounts payable.. 34.000 Dividends payable 30.000 Interest payable. .8.000 Income tax payable 15.000 Unearned client service revenue. 51.000 Notes payable. 227.000 Common stock 250,000 Retained earnings 224,000 Dividends 45,000 Client service revenue 509,000 Travel expense 24,500 Office supplies expense 17.000 Advertising expense 17.500 Salary expense... 305,000 Utility expense. 11.900 Depreciation expenses equipment 5.000 Interest expense 9.100 Insurance expense 4.500 Rent expense 35.000 Income tax expense 19.300 3.28 Prepare the adjusted trial balance on December 31, 20X6. 3.29 Prepare the income statement for the year ended December 31, 20X6. 3.30 Prepare the statement of retained earnings for the year ended December 31, 20x6. 3:31 Prepare the statement of financial position as of December 31, 20X6. 3.32 Prepare closing coiries for the year ended December 31, 20X6 INTRODUCTION TO ACCOUNTING EXTRA CREDIT Questions 3.28 through 3.32 that follow are based on the following December 31, 20X6 year-end account balances for XYZ Co, after adjusting entries had been prepared but before the books were closed for the year. Cash....... .382.000 Accounts receivable. ..207,000 Prepaid insurance ...3,200 Prepaid rent.. .16,000 Office supplies. 11.000 Equipment... .200.000 Accumulated depreciation: equipment. .155.000 Land... .190.000 Accounts payable. 34,000 Dividends payable 30,000 Interest payable. .8,000 Income tax payable. 15,000 Unearned client service revenue. .51,000 Notes payable. .227,000 Common stock.. .250,000 Retained earnings .224,000 Dividends... .45,000 1 Client service revenue 509,000 Travel expense. 24,500 Office supplies expense. .17.000 Advertising expense. .17.500 Salary expense.. .305,000 Utility expense.. .11.900 Depreciation expense: equipment. .5.000 Interest expense 9,100 Insurance expense. 4,500 Rent expense 35.000 Income tax expense. 19.300_ 3.28 Prepare the adjusted trial balance on December 31, 20X6. 3.29 Prepare the income statement for the year ended December 31, 20X6. 3.30 Prepare the statement of retained camnings for the year ended December 31, 20X6. 3.31 Prepare the statement of financial position as of December 31, 20X6