Verizon LTE 10:08 AM 60% learn-us-east-1-prod-fleet01-xythos.s C 1 of 2 Sudduth Detailing Services, Inc. Adjusted Trial Balance December 31, 2018 Account Debit Credit No. Balances Balances 43,535 17,790 11 Cash Accounts Receivable 12 14 1,225 Supplies Prepaid Rent Prepaid Insurance Equipment Accumulated Depreciation–Equipment Accounts Payable 15 4,000 16 3,850 18 20,000 19 400 21 1,600 Salaries Payable 22 275 23 2,350 Unearned Fees 31 50,000 John Sudduth, Capital John Sudduth, Drawing 32 18,000 41 64,550 Detailing Services 51 3,575 Salary Expense Supplies Expense Rent Expense Depreciation Expense Insurance Expense Miscellaneous Expense 52 2,800 53 2,000 54 400 55 350 59 1,650 119,175 119,175 Sudduth Detailing, Inc. Additional Information 1. Assume Beginning Equity at December 1, 2018 was $0. Clule t ias for astiuitu that will take place in January 2019

Verizon LTE 10:08 AM 60% learn-us-east-1-prod-fleet01-xythos.s C 1 of 2 Sudduth Detailing Services, Inc. Adjusted Trial Balance December 31, 2018 Account Debit Credit No. Balances Balances 43,535 17,790 11 Cash Accounts Receivable 12 14 1,225 Supplies Prepaid Rent Prepaid Insurance Equipment Accumulated Depreciation–Equipment Accounts Payable 15 4,000 16 3,850 18 20,000 19 400 21 1,600 Salaries Payable 22 275 23 2,350 Unearned Fees 31 50,000 John Sudduth, Capital John Sudduth, Drawing 32 18,000 41 64,550 Detailing Services 51 3,575 Salary Expense Supplies Expense Rent Expense Depreciation Expense Insurance Expense Miscellaneous Expense 52 2,800 53 2,000 54 400 55 350 59 1,650 119,175 119,175 Sudduth Detailing, Inc. Additional Information 1. Assume Beginning Equity at December 1, 2018 was $0. Clule t ias for astiuitu that will take place in January 2019

Name: I need an income statement, a balance sheet, and a statement of retain
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Description: I need an income statement, a balance sheet, and a statement of retained earnings for this. NOT a journal entry. Verizon LTE10:08 AM60%learn-us-east-1-prod-fleet01-xythos.s C1 of 2Sudduth Detailing Services, Inc.Adjusted Trial BalanceDecember 31, 201

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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Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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I need an income statement, a balance sheet, and a statement of retained earnings for this. NOT a journal entry.

Verizon LTE
10:08 AM
60%
learn-us-east-1-prod-fleet01-xythos.s C
1 of 2
Sudduth Detailing Services, Inc.
Adjusted Trial Balance
December 31, 2018
Account
Debit
Credit
No.
Balances
Balances
43,535
17,790
11
Cash
Accounts Receivable
12
14
1,225
Supplies
Prepaid Rent
Prepaid Insurance
Equipment
Accumulated Depreciation–Equipment
Accounts Payable
15
4,000
16
3,850
18
20,000
19
400
21
1,600
Salaries Payable
22
275
23
2,350
Unearned Fees
31
50,000
John Sudduth, Capital
John Sudduth, Drawing
32
18,000
41
64,550
Detailing Services
51
3,575
Salary Expense
Supplies Expense
Rent Expense
Depreciation Expense
Insurance Expense
Miscellaneous Expense
52
2,800
53
2,000
54
400
55
350
59
1,650
119,175
119,175
Sudduth Detailing, Inc. Additional Information
1. Assume Beginning Equity at December 1, 2018 was $0.
Clule t
ias for astiuitu that will take place in January 2019

Definition Definition Method of recording financial transactions in the book of original entry by debiting and crediting the accounts affected by a transaction using the golden rules of accrual accounting.

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