The ledger of AISExperts Inc. showed the following balances after adjustment, but before closing, on December 31, 2018, the end of the current year: 

Accounts payable 81500 

Accounts receivable 100580 

Accumulated depreciation – equipment 36540 

Depreciation expense 10000 

Marketable securities 11250 

Interest revenue 1100 

Cash 78470 

Finished goods inventory 73500 

Available-for-sale securities 6000 

Common stock (10,000 shares outstanding) 100000 

Prepaid rent 15000

Cost of goods sold 625650

Dividends declared 32000 

Insurance expense 2200 

Lease obligation 5200 

Equipment 114450 

General expenses 110250 

Interest expense 5800 

Raw materials inventory 51000 

Rent expense 2000 

Prepaid insurance 11325 

Retained earnings? 

Dividend revenue 10250 

Work-in-process inventory 52200 

Leased equipment 6000 

Salaries payable 26700 

Sales 987500 

Selling expenses 136210 

The president of AISExperts Inc., has asked you to develop a flexible financial statement package (call the file yournameFinState18), using Excel that includes: 

 

• a data entry sheet

• an adjusted trial balance,

• a single-step income statement,

• a multi-step income statement,

• a statement of retained earnings,

• a classified balance sheet,

• a post-close trial balance

Answer rating: 100% (QA)

Data Entry and Adjusted Trial Retained Earning is Calculated as differential amount Account Op Debit Op Credit Accounts Payable 81500 Accounts Receiva... View the full answer