FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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2. (Prepare Financial Statements) The adjusted trial balance of Decimal Co. as of December
31, 2017, contains the following.
Account Titles
Cash
Accounts Receivable
Prepaid Rent
Equipment
Accumulated Depreciation Equipment
Notes Payable
Accounts Payable
Common Stock
Retained Earnings
Dividends
DECIMAL CO.
ADJUSTED TRIAL BALANCE
DECEMBER 31, 2017
Service Revenue
Salaries and Wages Expense
Rent Expense
Depreciation Expense
Interest Expense
Interest Payable
Instructions
(a) Prepare an income statement.
(b) Prepare a statement of retained earnings.
(c) Prepare a classified balance sheet.
Dr.
$ 6,590
15,618
1,200
31,800
6,000
15,600
7,800
392
211
Cr.
$ 9,680
12,500
11,601
20,000
3,619
27,600
211
$85,211 $85,211
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Transcribed Image Text:2. (Prepare Financial Statements) The adjusted trial balance of Decimal Co. as of December 31, 2017, contains the following. Account Titles Cash Accounts Receivable Prepaid Rent Equipment Accumulated Depreciation Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Dividends DECIMAL CO. ADJUSTED TRIAL BALANCE DECEMBER 31, 2017 Service Revenue Salaries and Wages Expense Rent Expense Depreciation Expense Interest Expense Interest Payable Instructions (a) Prepare an income statement. (b) Prepare a statement of retained earnings. (c) Prepare a classified balance sheet. Dr. $ 6,590 15,618 1,200 31,800 6,000 15,600 7,800 392 211 Cr. $ 9,680 12,500 11,601 20,000 3,619 27,600 211 $85,211 $85,211
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