Question
Using the information presented below, prepare an income statement and the balance sheet from the adjusted trial balance of McTangy Spices. McTangy Spices. Adjusted Trial
Using the information presented below, prepare an income statement and the balance sheet from the adjusted trial balance of McTangy Spices. McTangy Spices. Adjusted Trial Balance December 31 Cash %bodyamp;nbsp; 3,050 Accounts receivable 400 Prepaid insurance 830 Office supplies 80 Office equipment 4,200 Accumulated depreciationoffice equipment $ 1,100 Buildings 98,000 Accumulated depreciationbuildings 28,000 Land 115,000 Wages Payable 880 Property taxes payable 1,400 Interest payable 2,200 Unearned rent 460 Notes payable 150,000 McTangy Spices, Capital Stock 40,340 McTangy Spices, Dividends 21,000 Rent earned 57,500 Wages expense 25,000 Utilities expense 1,900 Property taxes expense 2,400 Insurance expense 800 Office supplies expense 250 Depreciation expenseoffice equipment 400 Depreciation expensebuildings 5,570 Interest expense 3,000 Totals $281,880 $281,880 Required: Use a spreadsheet to prepare the Income Statement Balance Sheet
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