please answer only part e Listed below, in alphabetical order, are the account balances (after adjustments) from the generalledger of KS Services Limited for the year ended December 31, 2018. All accounts have normalbalances.Accounts payableAccounts receivableAccumulated depreciation-equipmentBank loan payable$ 4,6609,6005,2001,0001,100CashCommon shares5,000Depreciation expenseDividends declaredEquipmentIncome tax expenseInterest expenseOther expensesRent expenseRetained earningsSalaries expenseSalaries payableService revenue2,6001,00020,8003,500501,67516,8003,70030,70071067,200SuppliesSupplies expenseUnearned revenue1804751,010(a) Prepare an adjusted trial balance.(c) Calculate net income for the year.(d) Calculate total assets, liabilities, and shareholders' equity at December 31.(e) Present your answer in part (d) in the form of the basic accounting equation.

As per accounting equation, assets equal to sum of liabilities and equity. Assets = Liabilities +…

Accounts payable Accounts receivable Accumulated depreciation-equipment Bank loan payable Cash $ 4,660 9,600 5,200 1,000 1,100 Common shares 5,000 Depreciation expense Dividends declared 2,600 1,000 Equipment Income tax expense 20,800 3,500 50 Interest expense Other expenses Rent expense Retained earnings Salaries expense Salaries payable Service revenue Supplies Supplies expense Unearned revenue 1,675 16,800 3,700 30,700 710 67,200 180 475 1,010

Accounts payable Accounts receivable Accumulated depreciation-equipment Bank loan payable Cash $ 4,660 9,600 5,200 1,000 1,100 Common shares 5,000 Depreciation expense Dividends declared 2,600 1,000 Equipment Income tax expense 20,800 3,500 50 Interest expense Other expenses Rent expense Retained earnings Salaries expense Salaries payable Service revenue Supplies Supplies expense Unearned revenue 1,675 16,800 3,700 30,700 710 67,200 180 475 1,010

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

What is a double-entry? Give an example?
For what purpose Form 2553 is required?
What Is Section 1031? A brief explanation on this?
Please answer G part with explanation. Answer was incoorect in previous solution
What does the IAS 2 explains?
Please provide the introductory part and answer for question D.
please answer this which is part C
*Question:- r what is anticulation of the Pinarcial statement meons Elaborate.
where is the correcting entry of the following?
What do the letter FIFO Stand for?
Briefly discuss the nature of Single entry and double entry system.
hrl.3 answer must be in proper format or i will give down vote