Question: Using the information below on the Adjusted Trial Balance, prepare the provided financial statements for Bentley Luxury Car Services. Owner Rose Royce did not make

Using the information below on the Adjusted Trial Balance, prepare the provided financial statements for Bentley Luxury Car Services. Owner Rose Royce did not make any additional investments in the company during the year.

Bentley Luxury Car Services
Adjusted Trial Balance
For the year ended December 31

Cash

$755,000

Accounts receivable

64,500

Office supplies

5,700

Vehicles

285,000

Accumulated depreciation—Vehicles

$180,000

Accounts payable

50,700

Salaries payable

112,000

Rose Royce, Beginning Capital

505,000

Rose Royce, Withdrawals

60,000

Rental Fees Earned

450,000

Executive Concierge Services

225,000

Rent expense

80,000

Office Supplies expense

5,000

Utilities expense

7,500

Depreciation Expense—Vehicles

45,000

Salary expense

133,000

Fuel expense

82,000

Totals

$1,522,700

$1,522,700

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