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Trial Balance As of December 31, 2021 Debit Credit Account 27,400 Cash 4,900 Accounts Receivable Supplies 3,300 Prepaid Insurance 6,000 Land held for Investment 25,000 Land 42,800 Apartment Building 152,000 Furniture 50,000 Accumulated Depreciation 41,100 Accounts Payable 6,500 Unearned Rent Revenues 7.400 Long Term Note Payable - due in one year 8,000 ong Term Note Payable. 72,000 Common Stock 112,700 etained Earnings 35,700 vidends 5,000 unt Revenue 110,700 preciation expense 10,000 pair expense 3,600 aries expense 52,200 ties expense 9,400 olies expense 1,500 ance expense 1,000 394,100 394,100

Trial Balance As of December 31, 2021 Debit Credit Account 27,400 Cash 4,900 Accounts Receivable Supplies 3,300 Prepaid Insurance 6,000 Land held for Investment 25,000 Land 42,800 Apartment Building 152,000 Furniture 50,000 Accumulated Depreciation 41,100 Accounts Payable 6,500 Unearned Rent Revenues 7.400 Long Term Note Payable - due in one year 8,000 ong Term Note Payable. 72,000 Common Stock 112,700 etained Earnings 35,700 vidends 5,000 unt Revenue 110,700 preciation expense 10,000 pair expense 3,600 aries expense 52,200 ties expense 9,400 olies expense 1,500 ance expense 1,000 394,100 394,100

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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Use this trial balance to create
a) Income Statement
b) Retained Earning Statement
c) Balance Sheet
Trial Balance As of December 31, 2021 Debit Credit Account 27,400 Cash 4,900 Accounts Receivable 3,300 Supplies Prepaid Insurance 6,000 Land held for Investment 25,000 Land 42,800 Apartment Building 152,000 Furniture 50,000 Accumulated Depreciation 41,100 Accounts Payable 6,500 Unearned Rent Revenues Long Term Note Payable - due in one year 7,400 8,000 Long Term Note Payable. 72,000 Common Stock 112,700 Retained Earnings 35,700 Dividends 5,000 Rent Revenue 110,700 Depreciation expense 10,000 Repair expense 3,600 Salaries expense 52,200 Utilities expense 9,400 Supplies expense 1,500 Insurance expense Total 1,000 394,100 394,100
Transcribed Image Text:Trial Balance As of December 31, 2021 Debit Credit Account 27,400 Cash 4,900 Accounts Receivable 3,300 Supplies Prepaid Insurance 6,000 Land held for Investment 25,000 Land 42,800 Apartment Building 152,000 Furniture 50,000 Accumulated Depreciation 41,100 Accounts Payable 6,500 Unearned Rent Revenues Long Term Note Payable - due in one year 7,400 8,000 Long Term Note Payable. 72,000 Common Stock 112,700 Retained Earnings 35,700 Dividends 5,000 Rent Revenue 110,700 Depreciation expense 10,000 Repair expense 3,600 Salaries expense 52,200 Utilities expense 9,400 Supplies expense 1,500 Insurance expense Total 1,000 394,100 394,100
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