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From the following Company A adjusted trial balance, prepare simple financial statements, as follows: Income Statement Retained Earnings Statement Balance Sheet   Debit Credit Cash $ 42,000   Accounts receivable 11,300   Prepaid insurance 14,800   Accounts payable   $ 10,900 salaries payable   14,000 common stock   25,000 service revenue   61,000 adminstrative expense 42,800     110,900 110,900

From the following Company A adjusted trial balance, prepare simple financial statements, as follows: Income Statement Retained Earnings Statement Balance Sheet   Debit Credit Cash $ 42,000   Accounts receivable 11,300   Prepaid insurance 14,800   Accounts payable   $ 10,900 salaries payable   14,000 common stock   25,000 service revenue   61,000 adminstrative expense 42,800     110,900 110,900

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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From the following Company A adjusted trial balance, prepare simple financial statements, as follows:

  1. Income Statement
  2. Retained Earnings Statement
  3. Balance Sheet
  4.   Debit Credit
    Cash $ 42,000  
    Accounts receivable 11,300  
    Prepaid insurance 14,800  
    Accounts payable   $ 10,900
    salaries payable   14,000
    common stock   25,000
    service revenue   61,000
    adminstrative expense 42,800  
      110,900 110,900
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