В.???????Retained Earnings Statement??????????????Balance Sheet?????? 2. LO 4.5 From the following Company Z adjusted trial balance, prepare simple financialstatements for the month of Dec 2019, as follows:А.Income StatementВ.Retained Earnings StatementBalance SheetС.Adjusted Trial BalanceDebitCredit$ 54,65028,7508,00022,000CashAccounts receivablePrepaid insuranceLandAccounts payableSalaries payable$ 14,3004,250Common stock50,000Retained earnings38,900Dividends36,000Service revenue257,350Insurance expense32,000Salaries expenseMiscellaneous expense126,50056,900364,800364,800SolutionA.222222?22?Income Statement?????????

Income Statement: The Income Statement is one of a company’s core financial statements that show…

2. LO 4.5 From the following Company Z adjusted trial balance, prepare simple financial statements for the month of Dec 2019, as follows: Income Statement Retained Earnings Statement Balance Sheet A. В. С. Adjusted Trial Balance Debit Credit Cash $ 54,650 Accounts receivable 28,750 8,000 Prepaid insurance Land 22,000 $ 14,300 4,250 50,000 38,900 Accounts payable Salaries payable Common stock Retained earnings Dividends 36,000 Service revenue 257,350 Insurance expense Salaries expense Miscellaneous expense 32,000 126,500 56,900 364,800 364,800

2. LO 4.5 From the following Company Z adjusted trial balance, prepare simple financial statements for the month of Dec 2019, as follows: Income Statement Retained Earnings Statement Balance Sheet A. В. С. Adjusted Trial Balance Debit Credit Cash $ 54,650 Accounts receivable 28,750 8,000 Prepaid insurance Land 22,000 $ 14,300 4,250 50,000 38,900 Accounts payable Salaries payable Common stock Retained earnings Dividends 36,000 Service revenue 257,350 Insurance expense Salaries expense Miscellaneous expense 32,000 126,500 56,900 364,800 364,800

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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