please take below trial balance information for january 2020,conver it into financial statements.questions1- make an income statement for this month2- make a statement of equity for this month3- make a balance sheet for this month4- how many units and at what cost are in inventory to start the next month (february)? Trial BalanceCashAcct ReceivableAllowanceSuppliesInventoryPrepaid InsurancProperty Plant arLandAccounts PayWages PayableInterest PayableUnearned Rey39,300(46,153)Long Term DebtCapital StockRetained EarningsDividends PaidBad Debt ExpensSupplies Expensi22,000(400)Cost of Goods Sc 33,900Utiltities ExpInsurance ExpWages ExpenseInterest Expense2504004,70081514,950(32,900)2,50013,000)84,00057,89384,00033,90081540,269

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please take below trial balance information for january 2020, conver it into financial statements. questions 1- make an income statement for this month 2- make a statement of equity for this month 3- make a balance sheet for this month

please take below trial balance information for january 2020, conver it into financial statements. questions 1- make an income statement for this month 2- make a statement of equity for this month 3- make a balance sheet for this month

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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Question

please take below trial balance information for january 2020,

conver it into financial statements.

questions

1- make an income statement for this month

2- make a statement of equity for this month

3- make a balance sheet for this month

4- how many units and at what cost are in inventory to start the next month (february)?

Trial Balance
Cash
Acct Receivable
Allowance
Supplies
Inventory
Prepaid Insuranc
Property Plant ar
Land
Accounts Pay
Wages Payable
Interest Payable
Unearned Rey
39,300
(46,153)
Long Term Debt
Capital Stock
Retained Earnings
Dividends Paid
Bad Debt Expens
Supplies Expensi
22,000
(400)
Cost of Goods Sc 33,900
Utiltities Exp
Insurance Exp
Wages Expense
Interest Expense
250
400
4,700
815
14,950
(32,900)
2,500
13,000)
84,000
57,893
84,000
33,900
815
40,269

Definition Definition Statement that shows the ending balance of all the ledger accounts of a firm at the end of the accounting period. The trial balance is prepared after all the entries have been posted to the ledger accounts and assists in preparing the final accounts of a firm.

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