Question: complete a financial statement by downloading the Excel document, reviewing the information in the first tab, and completing the statement in the second tab first
complete a financial statement by downloading the Excel document, reviewing the information in the first tab, and completing the statement in the second tab
first tab
InstructionsBelow is the adjusted trial balance for Manufacturing Corp. as of fiscal year-end December 31, 2022. Your job as the accountant is to prepare the (1) income statement, (2) retained earnings statement, and (3) balance sheet based on the adjusted trial balance. Please use the template in tab two entitled "Statements" which includes the three statements formatted for your use in this assignment.Marina Corp.Adjusted Trial Balance31-Dec-20DebitCreditCash$ 3,900Accounts Receivable2,200Supplies1,800Equipment15,000Accumulated DepreciationEquipment4,000Accounts Payable3,800Unearned Service Revenue5,000Common Stock10,000Retained Earnings4,400Dividends2,000Service Revenue3,700Supplies Expense600Depreciation Expense2,500Rent Expense2,900$ 30,900$ 30,900second tab
Marina CORP.Income StatementFor the Month Ended December 31, 2022RevenuesService revenueExpensesRent expenseDepreciation expenseSupplies expenseTotal expenses- Net income (loss)$ - Marina CORP.Retained Earnings StatementFor the Month Ended December 31, 2022Retained earnings, December 1Less: Net lossDividends- Retained earnings, December 31$ - Marina CORP.Balance SheetDecember 31, 2022AssetsCashAccounts receivableSuppliesEquipmentLess: Accumulated depreciation - equipment- Total assets$ - Liabilities and Stockholders' EquityLiabilitiesAccounts payableUnearned service revenueTotal liabilities- Stockholders' EquityCommon stockRetained earnings- Total liabilities andstockholders' equity- Balanced?TRUEStep by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
