Please help experts Monty Corp.Income Statement2$%242$ Monty Corp. was organized on July 1, 2020. Quarterly financial statements are prepared. The unadjusted and adjusted trial balancesas of September 30 are shown as follows.Monty Corp.Trial BalanceSeptember 30, 2020UnadjustedAdjustedDr.Cr.Dr.Cr.Cash$8,800$8,800Accounts Receivable10,30011,400Supplies1,450600Prepaid Rent2,1501,250Equipment18,00018,000Accumulated Depreciation-Equipment$ 0$ 650Notes Payable9,3009,300Accounts Payable2,5502,550Salaries and Wages Payable730Interest Payable93Unearned Rent Revenue1,9001,100Common Stock22,00022,000Dividends1,6501,650Service Revenue16,89017,990Rent Revenue1,3802,180Salaries and Wages Expense8,2008,930Rent Expense1,9502,850Depreciation Expense650Supplies Expense850Utilities Expense1,5201,520Interest Expense93$ 54,020$ 54,020$ 56,593$ 56,593

The financial statements of the business includes the income statement and balance sheet. The income…

Trial Balance September 30, 2020 Unadjusted Adjusted Dr. Cr. Dr. Cr. sh $8,800 $8,800 counts Receivable oplies 10,300 11,400 1,450 600 spaid Rent uipment 2,150 1,250 18,000 18,000 cumulated Depreciation-Equipment $ 0 $ 650 tes Payable counts Payable 9,300 9,300 2,550 2,550 aries and Wages Payable 730 erest Payable 93 earned Rent Revenue mmon Stock 1,900 1,100 22,000 22,000 -idends 1,650 1,650 vice Revenue 16,890 17,990 nt Revenue 1,380 2,180 aries and Wages Expense 8,200 8,930

Trial Balance September 30, 2020 Unadjusted Adjusted Dr. Cr. Dr. Cr. sh $8,800 $8,800 counts Receivable oplies 10,300 11,400 1,450 600 spaid Rent uipment 2,150 1,250 18,000 18,000 cumulated Depreciation-Equipment $ 0 $ 650 tes Payable counts Payable 9,300 9,300 2,550 2,550 aries and Wages Payable 730 erest Payable 93 earned Rent Revenue mmon Stock 1,900 1,100 22,000 22,000 -idends 1,650 1,650 vice Revenue 16,890 17,990 nt Revenue 1,380 2,180 aries and Wages Expense 8,200 8,930

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 9RE: Refer to RE6-8. On April 23, 2020, McKinncy Co. receives a check, from Mangold Corporation for...

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