Question: Create income statement and balance sheet from the trial balance below. Company Co. Trial Balance As of December 31st, 2005 Account Debit Credit Cash $339,700

Create income statement and balance sheet from the trial balance below.


Company Co.
Trial Balance
As of December 31st, 2005
AccountDebitCredit
Cash$339,700$0
Account Receivable$401,305
Revenue
$401,305
Depreciation Expense$2,000
Rent/Insurance$23,000
Marketing Expense$1,000
Loan Payable$300
Equity
$500,000
Utilities Expense$4,000
Accumulated Depreciation
$2,000
Intangible Asset$63,800
Wage Expense$120,000
R&D Expense$2,000
Account Payable
$53,800
Total$957,105$957,105

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