1 Name: 2 Your score: 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 The trial balance of the Lucas Casel Company as of December 31, 2022 is presented below. Prepare an income statement, statement of retained earnings and a balance sheet for the year ended (date of), December 31, 2022. Every yellow cell requires either an account title or a formula. ALL FORMULAS FOR TOTALS MUST INCLUDE THE =SUM FUNCTION. Use the dropdown list to select the proper account titles. Cash Accounts receivable Inventory Prepaid rent Equipment Accounts payable Unearned consulting revenue Common stock Dividends Consulting revenue Rental revenue Salaries expense Rent expense Insurance expense Totals Revenues Total revenues Expenses Lucas Casel 0% Lucas Casel Company Trial Balance December 31, 2022 Debit Total expenses $5,400 1,300 10,800 3,500 27,100 Instructions 1,300 2,500 2,100 1,400 1) Prepare the income statement for Lucas Casel Company for the year ended December 31, 2022. Lucas Casel Company Income Statement For Year Ended December 31, 2022 Credit $7,300 4,100 35,700 6,900 1,400 2) The Lucas Casel Company began operations on January 1, 2022. Prepare its statement of retained earnings for the year ended December 31, 2022. Lucas Casel Company Prepare Fin Sts +

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Question

Click on the "Prepare Fin Sts" tab and enter your name in Cell C1. If Cell C1 is left blank, you will not be able to see your score.
Each graded cell is highlighted in yellow. Select all account titles/labels using dropdowns. Enter formulas for all dollar amounts.
The formula must only contain cell addresses.
Each correct formula will begin with =, +, or -.

The basic mathematical operators are +, -, * and /
Addition: To add the values in cells A1 and B4, the formula is =A1+B4
Subtraction: To subtract the value in cell B4 from the value in cell A1, the formula is =A1-B4
Multiplication: To multiply the values in cells A1 and B4, the formula is =A1*B4
Division: To divide the value in cell A1 by the value in cell B4, the formula is =A1/B4

THIS FILE REQUIRES THE USE OF =SUM FOR ALL TOTALS AND SUBTOTALS
The =SUM function adds all values within a range of cells.
For example, the formula to calculate total attendees in cell B19 is =SUM(B16:B18).

Men	850
Women	930
Children	1,145
Total	2,925

A
1 Name:
2 Your score:
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
Cash
Accounts receivable
Inventory
Prepaid rent
B
Equipment
Accounts payable
Unearned consulting revenue
Common stock
Dividends
Consulting revenue
Rental revenue
Salaries expense
Rent expense
The trial balance of the Lucas Casel Company as of December 31, 2022 is presented below. Prepare an
income statement, statement of retained earnings and a balance sheet for the year ended (date of), December
31, 2022. Every yellow cell requires either an account title or a formula. ALL FORMULAS FOR TOTALS MUST
INCLUDE THE =SUM FUNCTION. Use the dropdown list to select the proper account titles.
Insurance expense
Totals
Revenues
Total revenues
Expenses
Total expenses
C
Lucas Casel
0%
Lucas Casel Company
Trial Balance
December 31, 2022
Debit
$5,400
1,300
10,800
3,500
27,100
1,300
Instructions
2,500
2,100
1,400
1) Prepare the income statement for Lucas Casel Company for the year
ended December 31, 2022.
Lucas Casel Company
Income Statement
For Year Ended December 31, 2022
D
Credit
Prepare Fin Sts
$7,300
4,100
35,700
6,900
1,400
2) The Lucas Casel Company began operations on January 1, 2022.
Prepare its statement of retained earnings for the year ended December
31, 2022.
Lucas Casel Company
E
+
F

1 Name:
2 Your score:
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
2
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
Lucas Casel
0%
2) The Lucas Caser Company pegan operations on January 1, ZUZZ.
Prepare its statement of retained earnings for the year ended December
31, 2022.
Retained earnings, January 1, 2022
Subtotal
Retained earnings, December 31, 2022
Lucas Casel Company
Statement of Retained Earnings
For Year Ended December 31, 2022
Total assets
3) Prepare a balance sheet for Lucas Casel Company at December 31, 2022.
Lucas Casel Company
Balance Sheet
December 31, 2022
Assets
Liabilities
Total liabilities
Equity
Total liabilities and equity
$0
Liabilities and Equity

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 4 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions