118 Using the information given below, prepare an Income Statement, Statement of retained earnings, and Balance Sheet for Rapid Car Services from the adjusted trial balance. Cash Accounts receivable Office supplies Vehicles Accumulated depreciation - Vehicles Accounts payable Common stock Retained earnings Dividends Services revenue Rent expense Office supplies expense Utilities expense Depreciation expense Salaries expense Fuel expense Rapid Car Services Adjusted Trial Balance December 31 Totals - Vehicles Debit $ 33,000 14, 200 1,700 100,000 40,000 13,000 2,000 2,500 15,000 50,000 12,000 $ 283,400 Credit 45,000 11,500 20,000 51,900 155,000 $ 283,400
118 Using the information given below, prepare an Income Statement, Statement of retained earnings, and Balance Sheet for Rapid Car Services from the adjusted trial balance. Cash Accounts receivable Office supplies Vehicles Accumulated depreciation - Vehicles Accounts payable Common stock Retained earnings Dividends Services revenue Rent expense Office supplies expense Utilities expense Depreciation expense Salaries expense Fuel expense Rapid Car Services Adjusted Trial Balance December 31 Totals - Vehicles Debit $ 33,000 14, 200 1,700 100,000 40,000 13,000 2,000 2,500 15,000 50,000 12,000 $ 283,400 Credit 45,000 11,500 20,000 51,900 155,000 $ 283,400
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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