Question: Please prepare a Balance Sheet, Income Statement, Share holders equity, and Statement of cash flows based on the following trial balance sheet: Trial Balance November
Please prepare a Balance Sheet, Income Statement, Share holders equity, and Statement of cash flows based on the following trial balance sheet:
| Trial Balance | ||||||
| November 30th, 2022 | ||||||
| Account Title | Debit | Credit | ||||
| Cash | 43,061 | |||||
| Petty Cash | 265 | |||||
| Accounts Receivable | 20600 | |||||
| Supplies on Hand | 650 | |||||
| Prepaid Insurance | 79 | |||||
| Computer Equipment | 3450 | |||||
| Accumulated Depreciation-Computer Equipment | 139.58 | |||||
| Cell Phone | 849 | |||||
| Accumulated Depreciation-Cell Phone | 33.29 | |||||
| Office Building | 200,000 | |||||
| Accumulated Depreciation- Office Building | 1,388.88 | |||||
| Accounts Payable | 1,080 | |||||
| Customer Deposits (Unearned Revenue) | 0 | |||||
| SUTA Payable | 60 | |||||
| FICA Payable | 459.52 | |||||
| FUTA Payable | 30 | |||||
| Federal Income Tax Payable | 450 | |||||
| State Income Tax Payable | 150 | |||||
| Current Maturities of Long-Term Debt | 2,032 | |||||
| Notes Payable (Long-Term) | 177609 | |||||
| Interest Payable | 778.44 | |||||
| Salaries Payable | 1085 | |||||
| Common Stock ($2 par value) | 10,000 | |||||
| Additional Paid-in Capital on Common Stock | 40,000 | |||||
| Retained Earnings | 0 | |||||
| Dividends | 500 | |||||
| Engagement Fees | 8,000 | |||||
| Monthly Accounting Services Revenue | 12,900 | |||||
| Hourly Accounting Services Revenue | 23,700 | |||||
| Tax Services Revenue | 2500 | |||||
| Sales Discounts | 41 | |||||
| Advertising & Promotion Expense | 600 | |||||
| Depreciation Expense | 1561.78 | |||||
| Rent Expense | 500 | |||||
| Insurance Expense | 417 | |||||
| Supplies Expense | 300 | |||||
| Meals & Entertainment | 60 | |||||
| Taxes and Licenses | 295 | |||||
| Telephone Expense | 100 | |||||
| Utilities Expense | 580 | |||||
| Fuel Expense | 100 | |||||
| Interest Expense | 2,626 | |||||
| Payroll Tax Expense | 400 | |||||
| Salaries Expense | 3,750 | |||||
| Service Charge Expense | 80 | |||||
| Charitable Contributions Expense | 300 | |||||
| Furniture & Equipment Expense | 500 | |||||
| Janitorial Expense | 300 | |||||
| Pest Control Expense | 35 | |||||
| Postage & Delivery Expense | 0 | |||||
| Professional Fees Expense | 175 | |||||
| Repairs & Maintenance Expense | 220 | |||||
| 282,395.71 | 282395.71 | |||||
| 282,395.71 | 282,395.71 | |||||
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