Account Titles Debits Credits Cash $â9,840 Accounts Receivable 8.140 Equipment 15.900 Accumulated DepreciationâEquip. $ââ5,400 Accounts Payable 2.220 Unearned Rent Revenue 3.800 Common Stock 18.000 Retained Earnings 20.260 Dividends 12.000 Service Revenue 64.000 Rent Revenue 6.500 Depreciation Expense 3.700 Salaries and Wages Expense 55.700 Utilities Expense 14.900 $120.180 $120.180 Prepare an income statement

Question

Account Titles Debits Credits   Cash $â9,840    Accounts Receivable 8.140    Equipment 15.900    Accumulated DepreciationâEquip.  $ââ5,400   Accounts Payable  2.220   Unearned Rent Revenue  3.800   Common Stock  18.000   Retained Earnings  20.260   Dividends 12.000    Service Revenue  64.000   Rent Revenue  6.500   Depreciation Expense 3.700    Salaries and Wages Expense 55.700    Utilities Expense 14.900     $120.180 $120.180    Prepare an income statement

Debits		Credits
Cash	$ 6,672	Accumulated DepreciationâEquipment	$ 620
Accounts Receivable	512	Notes Payable	4,386
Prepaid Rent	694	Accounts Payable	740
Supplies	960	Salaries and Wages Payable	385
Equipment	12,729	Interest Payable	79
Dividends	516	Unearned Rent Revenue	358
Salaries and Wages Expense	7,207	Common Stock	12,653
Rent Expense	1,250	Service Revenue	11,051
Depreciation Expense	620	Rent Revenue	1,486
Supplies Expense	214		$31,758
Utilities Expense	305
Interest Expense	79
	$31,758

	Adjusted Trial Balance
	For the Month Ended June 30, 2014
		Adjusted Trial Balance
	Account Titles	Debits	Credits
	Cash	3.712
	Accounts Receivable	3.904
	Supplies	480		(b)
	Accounts Payable		1.556	Net Income:
	Unearned Service Revenue		160
	Common Stock		4.000
	Retained Earnings		1.760
	Dividends	600
	Service Revenue		4.300
	Salaries and Wages Expense	1.344		Retained earnings:
	Miscellaneous Expense	180
	Supplies Expense	1.900
	Salaries and Wages Payable		344
		12.120	12.120
	Instructions
(a)	Prepare a classified balance sheet at June 30, 2014.
(b)	Hint: find net income and update retained earnings

Unlock all answers

Related questions

Weekly leaderboard