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Prepare an adjusted trial balance from the adjusted account balances; solve for the one missing account balance: Cash (assume accounts have normal balances). Prepare income statement, statement of owner’s equity, and balance sheet (simple - unclassified) using the adjusted trial balance you just prepared. Accounts payable          19,000 Accounts receivable          23,760 Cash ? Common stock          38,000 Dividends            9,000 Equipment          20,000 Prepaid insurance          21,466 Land          45,000 Notes payable           61,000 Retained earnings          18,815 Insurance expense          19,689 Service revenue          90,550 Supplies            5,250 Salaries expense          51,000

Prepare an adjusted trial balance from the adjusted account balances; solve for the one missing account balance: Cash (assume accounts have normal balances). Prepare income statement, statement of owner’s equity, and balance sheet (simple - unclassified) using the adjusted trial balance you just prepared. Accounts payable          19,000 Accounts receivable          23,760 Cash ? Common stock          38,000 Dividends            9,000 Equipment          20,000 Prepaid insurance          21,466 Land          45,000 Notes payable           61,000 Retained earnings          18,815 Insurance expense          19,689 Service revenue          90,550 Supplies            5,250 Salaries expense          51,000

FINANCIAL ACCOUNTING
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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Prepare an adjusted trial balance from the adjusted account balances; solve for the one missing account balance: Cash (assume accounts have normal balances).

Prepare income statement, statement of owner’s equity, and balance sheet (simple - unclassified) using the adjusted trial balance you just prepared.

Accounts payable          19,000
Accounts receivable          23,760
Cash ?
Common stock          38,000
Dividends            9,000
Equipment          20,000
Prepaid insurance          21,466
Land          45,000
Notes payable           61,000
Retained earnings          18,815
Insurance expense          19,689
Service revenue          90,550
Supplies            5,250
Salaries expense          51,000
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