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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Monty Corp. was organized on July 1, 2020. Quarterly financial statements are prepared. The unadjusted and adjusted trial balances
as of September 30 are shown as follows.
Monty Corp.
Trial Balance
September 30, 2020
Unadjusted
Adjusted
Dr.
Cr.
Dr.
Cr.
Cash
$8,800
$8,800
Accounts Receivable
10,300
11,400
Supplies
1,450
600
Prepaid Rent
2,150
1,250
Equipment
18,000
18,000
Accumulated Depreciation-Equipment
$ 0
$ 650
Notes Payable
9,300
9,300
Accounts Payable
2,550
2,550
Salaries and Wages Payable
730
Interest Payable
93
Unearned Rent Revenue
1,900
1,100
Common Stock
22,000
22,000
Dividends
1,650
1,650
Service Revenue
16,890
17,990
Rent Revenue
1,380
2,180
Salaries and Wages Expense
8,200
8,930
Rent Expense
1,950
2,850
Depreciation Expense
650
Supplies Expense
850
Utilities Expense
1,520
1,520
Interest Expense
93
$ 54,020
$ 54,020
$ 56,593
$ 56,593

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