Natalie had a very busy December. At the end of the month, after journalizing and posting the
Fantastic news! We've Found the answer you've been seeking!
Question:
Natalie had a very busy December. At the end of the month, after journalizing and posting the December transactions and adjusting entries, Natalie prepared the following adjusted trial balance.
COOKIE CREATIONS | ||
Adjusted Trial Balance | ||
December 31, 2019 | ||
Debit | Credit | |
Cash | $1,180 | |
Accounts Receivable | 875 | |
Supplies | 350 | |
Prepaid Insurance | 1,210 | |
Equipment | 1,200 | |
Accumulated Depreciation-Equipment | $40 | |
Accounts Payable | 75 | |
Salaries and Wages Payable | 56 | |
Unearned Service Revenue | 300 | |
Notes Payable | 2,000 | |
Interest Payable | 15 | |
Common Stock | 800 | |
Dividends | 500 | |
Service Revenue | 4,515 | |
Salaries and Wages Expense | 1,006 | |
Utilities Expense | 125 | |
Advertising Expense | 165 | |
Supplies Expense | 1,025 | |
Depreciation Expense | 40 | |
Insurance Expense | 110 | |
Interest Expense | 15 | |
$7,801 | $7,801 |
1) Prepare an income statement for the 2 months ended December 31, 2019
2) Prepare a retained earnings statement for the 2 months ended December 31, 2019.
3) Prepare a classified balance sheet on December 31, 2019. The note payable has a stated interest rate of 6%, and the principal and interest are due on November 16, 2018.
Related Book For
Accounting Principles
ISBN: 978-1119048503
7th Canadian Edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
Posted Date: