**DECIMAL COMPANY****Adjusted Trial Balance****December 31, 2014**| Account | Debit | Credit ||------------------------------------|--------|---------|| Cash | 6,590 | || Accounts Receivable | 15,618 | || Prepaid Rent | 1,200 | || Equipment | 31,800 | || Accumulated Depreciation - Equipment| | 9,680 || Notes Payable | | 12,500 || Accounts Payable | | 11,601 || Common Stock | | 20,000 || Retained Earnings | | 3,619 || Dividends | 6,000 | || Service Revenue | | 27,600 || Salaries & Wages Expense | 15,600 | || Rent Expense | 7,800 | || Depreciation Expense | 392 | || Interest Expense | 211 | || Interest Payable | | 211 || |--------|---------|| **Totals** | 85,211 | 85,211 |**Instructions:**- Prepare an income statement.- Prepare a statement of retained earnings.- Prepare a classified balance sheet.(Note: There are no graphs or diagrams to explain in this image.)

Income Statement represents the Net Income by deducting all the expenses incurred during the period…

Answered: Instructions Prepare an income…

Instructions Prepare an income statement Prepare a statement of retained earnings Prepare a classified balance sheet

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

Similar questions

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