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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Use this trial balance to create
a) Income Statement
b) Retained Earning Statement
c) Balance Sheet
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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