Activity 1.a

Activity 1.a - Preparing the Income Statement Prepare the income Statement from the Adjusted Trial Balance. Within each section of the statement, use the drop-down menus to enter the accounts and select the account balances. SMART TOUCH LEARNING Adjusted Trial Balance December 31, 2016 SMART TOUCH LEARNING SMART BOOKS LEARNING Account Title Balance Debit Credit Monded December 11, 2016 Cash 15,700 Revenue Accounts Rece 700 Otice Supplies 200 Expenses Prepaident 10.500 Cash Furniture 1300 Atted Depreciation Furniture 6,300 Accounts Payable 2100 San Payable 500 Interest Payable Total Expenses Utaned Revue 2000 5200 Net Income Notes Payable 37,600 7300 Common Stock 10.100 Rewned Earnings 10.500 Dividends 26.700 Prepaid Rent 10,500 cash Cash Furniture 18,300 Accumulated Depreciation Furniture 6.300 Accounts Payable 2,100 Salaries Payable 500 Interest Payable 300 Total Expenses 9,900 Unearned Revenue 5.200 Net Income 37,600 Notes Payable 7.300 Common Stock 10.300 Retained Earnings 10,500 Dividends 26.700 Service Revenue 47.500 Depreciation Expense--Furniture 2.100 Interest Expense 300 Rent Expense 3,100 Salaries Expense 3,600 Supplies Expense 800 Total 90,000 10,000 90,000