PA18. LO 4.5 From the following Company Y adjusted trial balance, prepare simple financial statements, asfollows:A. Income StatementB. Retained Earnings StatementC. Balance SheetAdjusted Trial BalanceDebitCredit$ 32,000CashAccounts receivable17,300Prepaid insuranceLandAccounts payableSalaries payableCommon stock6,40010,000$ 10,9006,00031,000Retained earnings4,200Dividends8,000Service revenue74,000Insurance expense5,60024,000Salaries expenseMiscellaneous expense22,800126,100126,100

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PA18. LO 4.5 From the following Company Y adjusted trial balance, prepare simple financial statements, as follows: A. Income Statement B. Retained Earnings Statement c. Balance Sheet Adjusted Trial Balance Debit Credit $ 32,000 17,300 Cash Accounts receivable Prepaid insurance 6,400 Land 10,000 $ 10,900 6,000 Accounts payable Salaries payable Common stock Retained earnings 31,000 4,200 Dividends 8,000 Service revenue 74,000 5,600 Insurance expense Salaries expense Miscellaneous expense 24,000 22,800 126,100 126,100

PA18. LO 4.5 From the following Company Y adjusted trial balance, prepare simple financial statements, as follows: A. Income Statement B. Retained Earnings Statement c. Balance Sheet Adjusted Trial Balance Debit Credit $ 32,000 17,300 Cash Accounts receivable Prepaid insurance 6,400 Land 10,000 $ 10,900 6,000 Accounts payable Salaries payable Common stock Retained earnings 31,000 4,200 Dividends 8,000 Service revenue 74,000 5,600 Insurance expense Salaries expense Miscellaneous expense 24,000 22,800 126,100 126,100

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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