Cash Accounts receivable Interest receivable Notes receivable (due in 90 days) Office supplies Automobiles Accumulated depreciation- Automobiles Equipment Accumulated depreciation- Equipment Land Accounts payable Interest payable Salaries payable Unearned revenue Long-term notes payable Common stock Retained earnings Dividends Services revenue Interest revenue Depreciation expense- Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense Office supplies expense Advertising expense Repairs expense-Automobiles Totals Required Required Required A B C Debit $ 217,700 55,500 22,600 169,500 16,000 166,000 138,000 CHIARA COMPANY Statement of Retained Earnings For Year Ended December 31 Retained earnings, December 31 prior year end Retained earnings, December 31 current year end 77,000 55,000 27,500 21,000 186,000 40,000 33,200 33,800 59,000 26,000 $ Credit < Required A $ 60,000 17,000 90,000 40,000 25,000 32,000 148,000 33,580 302,220 Required: Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended December 31; b) the statement of retained earnings for the year ended December 31 [Note: Retained Earnings at December 31 of the rior year was $302,220.); and (c) the balance sheet as of December 31. 574,000 22,000 Complete this question by entering your answers in the tabs below. $ 1,343,800 1,343,800 Prepare the statement of retained earnings for the year ended December 31. [Note: Retained Earnings at December 31 of the prior year was $302,220.] Required C >
Cash Accounts receivable Interest receivable Notes receivable (due in 90 days) Office supplies Automobiles Accumulated depreciation- Automobiles Equipment Accumulated depreciation- Equipment Land Accounts payable Interest payable Salaries payable Unearned revenue Long-term notes payable Common stock Retained earnings Dividends Services revenue Interest revenue Depreciation expense- Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense Office supplies expense Advertising expense Repairs expense-Automobiles Totals Required Required Required A B C Debit $ 217,700 55,500 22,600 169,500 16,000 166,000 138,000 CHIARA COMPANY Statement of Retained Earnings For Year Ended December 31 Retained earnings, December 31 prior year end Retained earnings, December 31 current year end 77,000 55,000 27,500 21,000 186,000 40,000 33,200 33,800 59,000 26,000 $ Credit < Required A $ 60,000 17,000 90,000 40,000 25,000 32,000 148,000 33,580 302,220 Required: Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended December 31; b) the statement of retained earnings for the year ended December 31 [Note: Retained Earnings at December 31 of the rior year was $302,220.); and (c) the balance sheet as of December 31. 574,000 22,000 Complete this question by entering your answers in the tabs below. $ 1,343,800 1,343,800 Prepare the statement of retained earnings for the year ended December 31. [Note: Retained Earnings at December 31 of the prior year was $302,220.] Required C >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Cash
Accounts receivable
Interest receivable
Notes receivable (due in 90
days)
Office supplies
Automobiles
Accumulated depreciation-
Automobiles
Equipment
Accumulated depreciation-
Equipment
Land
Accounts payable
Interest payable
Salaries payable
Unearned revenue
Long-term notes payable
Common stock
Retained earnings
Dividends
Services revenue
Interest revenue
Depreciation expense-
Automobiles
Depreciation expense-Equipment
Salaries expense
Wages expense
Interest expense
Office supplies expense
Advertising expense
Repairs expense-Automobiles
Totals
Required Required Required
A
B
C
Debit
$ 217,700
55,500
22,600
169,500
16,000
166,000
CHIARA COMPANY
Statement of Retained Earnings
For Year Ended December 31
Retained earnings, December 31 prior
year end
138,000
Retained earnings, December 31
current year end
77,000
55,000
27,500
21,000
186,000
40,000
33,200
33,800
59,000
26,000
$
Credit
$ 60,000
< Required A
17,000
90,000
40,000
25,000
32,000
148,000
33,580
302, 220
Required:
Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended December 31;
(b) the statement of retained earnings for the year ended December 31 [Note: Retained Earnings at December 31 of the
prior year was $302,220.]; and (c) the balance sheet as of December 31.
574,000
22,000
Complete this question by entering your answers in the tabs below.
$
1,343,800 1,343,800
Prepare the statement of retained earnings for the year ended December 31. [Note:
Retained Earnings at December 31 of the prior year was $302,220.]
Required C >](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F159077d8-34ab-4f67-9338-8f89413d1f1b%2Fa450f1c2-db33-42dd-a00e-2cd120ab5872%2F271rjb4_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Cash
Accounts receivable
Interest receivable
Notes receivable (due in 90
days)
Office supplies
Automobiles
Accumulated depreciation-
Automobiles
Equipment
Accumulated depreciation-
Equipment
Land
Accounts payable
Interest payable
Salaries payable
Unearned revenue
Long-term notes payable
Common stock
Retained earnings
Dividends
Services revenue
Interest revenue
Depreciation expense-
Automobiles
Depreciation expense-Equipment
Salaries expense
Wages expense
Interest expense
Office supplies expense
Advertising expense
Repairs expense-Automobiles
Totals
Required Required Required
A
B
C
Debit
$ 217,700
55,500
22,600
169,500
16,000
166,000
CHIARA COMPANY
Statement of Retained Earnings
For Year Ended December 31
Retained earnings, December 31 prior
year end
138,000
Retained earnings, December 31
current year end
77,000
55,000
27,500
21,000
186,000
40,000
33,200
33,800
59,000
26,000
$
Credit
$ 60,000
< Required A
17,000
90,000
40,000
25,000
32,000
148,000
33,580
302, 220
Required:
Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended December 31;
(b) the statement of retained earnings for the year ended December 31 [Note: Retained Earnings at December 31 of the
prior year was $302,220.]; and (c) the balance sheet as of December 31.
574,000
22,000
Complete this question by entering your answers in the tabs below.
$
1,343,800 1,343,800
Prepare the statement of retained earnings for the year ended December 31. [Note:
Retained Earnings at December 31 of the prior year was $302,220.]
Required C >
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