Rogers Corporation Unadjusted Trial Balance December 31, 2019 Account Debit Credit Cash $ 3,100 Accounts Receivable 15,900 Supplies 4,200 Prepaid Rent 9,500 Equipment 625,000 Accumulated Depreciation $ 104,000 Other Assets 60,900 Accounts Payable 9,400 Unearned Service Revenue 11,200 Note Payable (due 2022) 50,000 Common Stock 279,500 Retained Earnings, 12/31/2018 37,000 Service Revenue 598,000 Wages Expense 137,000 Rent Expense 229,000 Interest Expense 4,500 Total $1,089,100 $1,089,100 At year end, you have the following data for adjustments: An analysis indicates that prepaid rent on December 31 should be $2,300. A physical inventory shows that $650 of office supplies is on hand. Depreciation for 2019 is $35,250. An analysis indicates that unearned service revenue should be $3,120. Wages in the amount of $3,450 are owed but unpaid and unrecorded at year end. Six months' interest at 8% on the note was paid on September 30. Interest for the period from October 1 to December 31 is unpaid and unrecorded. Income taxes of $55,539 are owed but unrecorded and unpaid. 2 a. Prepare an income statement using adjusted account balances.

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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Rogers Corporation
Unadjusted Trial Balance
December 31, 2019
Account	Debit	Credit
Cash	$ 3,100
Accounts Receivable	15,900
Supplies	4,200
Prepaid Rent	9,500
Equipment	625,000
Accumulated Depreciation			$ 104,000
Other Assets	60,900
Accounts Payable			9,400
Unearned Service Revenue			11,200
Note Payable (due 2022)			50,000
Common Stock			279,500
Retained Earnings, 12/31/2018			37,000
Service Revenue			598,000
Wages Expense	137,000
Rent Expense	229,000
Interest Expense	4,500
Total	$1,089,100		$1,089,100

At year end, you have the following data for adjustments:

An analysis indicates that prepaid rent on December 31 should be $2,300.
A physical inventory shows that $650 of office supplies is on hand.
Depreciation for 2019 is $35,250.
An analysis indicates that unearned service revenue should be $3,120.
Wages in the amount of $3,450 are owed but unpaid and unrecorded at year end.
Six months' interest at 8% on the note was paid on September 30. Interest for the period from October 1 to December 31 is unpaid and unrecorded.
Income taxes of $55,539 are owed but unrecorded and unpaid.

2 a. Prepare an income statement using adjusted account balances.

Rogers Corporation
Income Statement
For the Year Ended December 31, 2019
		$fill in the blank 79fe02ff901afe6_2
Less operating expenses:
	$fill in the blank 79fe02ff901afe6_4
	fill in the blank 79fe02ff901afe6_6
	fill in the blank 79fe02ff901afe6_8
	fill in the blank 79fe02ff901afe6_10
	fill in the blank 79fe02ff901afe6_12
	fill in the blank 79fe02ff901afe6_14	fill in the blank 79fe02ff901afe6_15
		$fill in the blank 79fe02ff901afe6_17

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