financial question

Project Description:

the adjusted trial balance for navajo company is presented below.
navajo company
adjusted trial balance
july 31, 2014
no. account titles debits credits

101 cash $ 16,000
112 accounts receivable 9,000
157 equipment 25,000
167 accumulated depreciation $ 8,000
201 accounts payable 4,500
208 unearned rent revenue 2,000
311 common stock 22,000
320 retained earnings 27,500
332 dividends 17,000
400 service revenue 64,000
429 rent revenue 11,000
711 depreciation expense 5,000
720 salaries and wages expense 57,000
732 utilities expense 10,000 .
$139,000 $139,000

navajo made an error during year when they debited utilities expense for $2,000 instead of equipment for a cash purchase of equipment. in addition, navajo failed to accrue $4,000 of service revenue.

instructions:
(a) prepare an income statement and a retained earnings statement for the year.
(b) prepare a classified balance sheet at july 31.
Skills Required:
Project Stats:

Price Type: Negotiable

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