Unadjusted Trial Balance Adjustments Adjusted Trial Balance Debit Credit Debit C

Question

Unadjusted Trial Balance Adjustments Adjusted Trial Balance Debit Credit Debit Credit Debit Credit Cash 15,000 15,000 Accounts Receivables 500 3,000 3,500 Supplies 3,000 1,000 2,000 Furniture 6,000 6,000 Notes Payable 10,000 10,000 Accounts Payable 3,000 3,000 Capital Stock 5,000 5,000 Service Revenue 6,500 4,000 10,500 Wages Expense 2,000 2,000 4,000 Unearned Revenue 3,000 1,000 2,000 Dividends 1,000 1,000 Supplies Expense 1,000 1,000 Depreciation Expense 50 50 Accumulated Depreciation 50 50 Wages Payable 2,000 2,000 Interest Expense 100 100 Interest Payable 100 100 Total $27,500 $27,500 $7,150 $7,150        $32,650 $32,650With this information, what would be the income statement, retained earning statement, and balance sheet be. Also what would the after closing statement be. Unadjusted Trial Balance Adjustments Adjusted Trial Balance Debit Credit Debit Credit Debit Credit Cash 15,000 15,000 Accounts Receivables 500 3,000 3,500 Supplies 3,000 1,000 2,000 Furniture 6,000 6,000 Notes Payable 10,000 10,000 Accounts Payable 3,000 3,000 Capital Stock 5,000 5,000 Service Revenue 6,500 4,000 10,500 Wages Expense 2,000 2,000 4,000 Unearned Revenue 3,000 1,000 2,000 Dividends 1,000 1,000 Supplies Expense 1,000 1,000 Depreciation Expense 50 50 Accumulated Depreciation 50 50 Wages Payable 2,000 2,000 Interest Expense 100 100 Interest Payable 100 100 Total $27,500 $27,500 $7,150 $7,150        $32,650 $32,650With this information, what would be the income statement, retained earning statement, and balance sheet be. Also what would the after closing statement be.

Explanation / Answer

a.Income Statement Revenues Service Revenue $        10,500 Total Revenues $        10,500 Expenses wages Expense $          4,000 Supplies expense $          1,000 Depreciation expense $                50 Interest expense $              100 Total Expenses $          5,150 Net Income $          5,350 b. Balancesheet Assets Liabilities Cash $        15,000 Notes Payable $ 10,000 Accounts Receivable $          3,500 Accounts Payable $    3,000 Supplies $          2,000 wages payable $    2,000 Furniture $           6,000 Interest payable $        100 Less: Accumulated depreciation $               -50 $          5,950 Unearned revenue $    2,000 Capital stock $                  5,000 Add: Retained earnings $                  4,350 $    9,350 $        26,450 $ 26,450 c.Statement of Retained earnings Beginning Retained earnings $                    - Add: Net Income $           5,350 Less: Dividend $         -1,000 Closing Retained Earnings $           4,350

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