Question: ** ****Please do not copy and paste. I want a unique answer ****Please use the keyboard to answer Course Name: Principles of Accounting Q2. Based

** ****Please do not copy and paste. I want a unique answer

****Please use the keyboard to answer

Course Name: Principles of Accounting

Q2. Based on the following trial balance for ABC Co, prepare an income statement, statement of retained earnings and a balance sheet. The company made no additional investments in the companyduring the year.

(Marks5)

ABC Co.

Trial Balance December 31

Cash SR 6,500
Accounts receivable 475
Supplies 2,500
Equipment 17,000
Accounts payable SR 745
Common stock 10,000
Retained earnings 11,155
Dividends 36,000
Revenue earned 72,000
Supplies expense 3,425
Rent expense 6,000
Wages expense 22,000
Totals SR93,900 SR93,900

Answer:

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