Show income statement , Retained earnings statement , Statement of financial position.Service Revenue = 131720 Debit BalancesRs.Credit BalancesRs.Accumulated Depreciation:Building9000 Accounts Payable12000 Notes Payable4000 Salaries Payable1300 Tax payableCash.2522060000Accounts Receivable12000Unexpired InsurancePrepaid RentOffice SuppliesBuildingInsurance ExpenseOffice Rent ExpenseSupplies ExpenseCost of goods sold30000160507100175000 Unearned Services Revenue240002250 Capital Stock35000 Retained Earming7000 Services Revenue90000160008172019000 Long term loan20000Accumulated Depreciation:EquipmentDepreciation Expense: Building2000015000Income Tax Expense15000Interest ExpenseMiscellaneous Expense80004000Equipment35000Dividends12000Depreciation Expense: EquipmentRepair and maintenance ExpenseFuel Expense5000600027100Total421870 Total421870

Formula: Income statement = Total revenues - Total expenses

Debit Balances Rs. Credit Balances Rs. Accumulated Depreciation: Cash 60000 Accounts Receivable Unexpired Insurance Prepaid Rent Office Supplies Building Insurance Expense Office Rent Expense Supplies Expense Cost of goods sold 25220 Building 9000 | Accounts Payable 12000 | Notes Payable 4000 Salaries Payable 1300 Tax payable 175000 Unearned Services Revenue 2250 Capital Stock 35000 Retained Earning 7000 Services Revenue 12000 30000 16050 7100 24000 90000 16000 81720 19000 Long term loan 20000

Debit Balances Rs. Credit Balances Rs. Accumulated Depreciation: Cash 60000 Accounts Receivable Unexpired Insurance Prepaid Rent Office Supplies Building Insurance Expense Office Rent Expense Supplies Expense Cost of goods sold 25220 Building 9000 | Accounts Payable 12000 | Notes Payable 4000 Salaries Payable 1300 Tax payable 175000 Unearned Services Revenue 2250 Capital Stock 35000 Retained Earning 7000 Services Revenue 12000 30000 16050 7100 24000 90000 16000 81720 19000 Long term loan 20000

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter9: Adjusting Entries

Section: Chapter Questions

Problem 1M

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