The adjusted trial balance for Zahurak Company follows. Adjusted Trial Balance December 31 Account Title No. 101 Cash 106 Accounts receivable 153 Trucks 154 Accumulated depreciation-Trucks 183 201 209 233 301 302 Land Accounts payable Salaries payable Unearned fees E. Happ, Capital E. Happ, Withdrawals Plumbing fees earned 401 611 Depreciation expense-Trucks 622 Salaries expense 640 Rent expense Totals Dr. $ 5,100 22,287 40,500 30,000 16, 201 11,883 2,718 2,118 61,751 72,000 10,797 5,427 33,606 10,944 $166, 751 $166, 751 Required: a. Use the adjusted trial balance to prepare the December 31 year-end income statement. b. Use the adjusted trial balance to prepare the December 31 year-end statement of owner's equity. The E. Happ, Capital account. balance was $61,751 on December 31 of the prior year. c. Use the adjusted trial balance to prepare the December 31 year-end balance sheet.
The adjusted trial balance for Zahurak Company follows. Adjusted Trial Balance December 31 Account Title No. 101 Cash 106 Accounts receivable 153 Trucks 154 Accumulated depreciation-Trucks 183 201 209 233 301 302 Land Accounts payable Salaries payable Unearned fees E. Happ, Capital E. Happ, Withdrawals Plumbing fees earned 401 611 Depreciation expense-Trucks 622 Salaries expense 640 Rent expense Totals Dr. $ 5,100 22,287 40,500 30,000 16, 201 11,883 2,718 2,118 61,751 72,000 10,797 5,427 33,606 10,944 $166, 751 $166, 751 Required: a. Use the adjusted trial balance to prepare the December 31 year-end income statement. b. Use the adjusted trial balance to prepare the December 31 year-end statement of owner's equity. The E. Happ, Capital account. balance was $61,751 on December 31 of the prior year. c. Use the adjusted trial balance to prepare the December 31 year-end balance sheet.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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