From the following Company A adjusted trial balance, prepare simple financial statements, as follows: Adjusted Trial Balance Debit Credit Cash $42,000 Accounts Receivable 11,300 Prepaid Insurance 14,800 Accounts Payable $10,500 Salaries Payable 14,000 Common Stock 25,000 Service Revenue 63,000 Administrative Expenses 44,400 $112,500 $112,500 A. Prepare an income statement for Complany A. Company A Income Statement For the Year Ended December 31, 20XX Revenues: Expenses: B. Prepare a statement of retained earnings for Company A. If an amount box requires zero, enter "0". Company A Retained Earnings Statement For the Year Ended December 31, 20XX

From the following Company A adjusted trial balance, prepare simple financial statements, as follows: Adjusted Trial Balance Debit Credit Cash $42,000 Accounts Receivable 11,300 Prepaid Insurance 14,800 Accounts Payable $10,500 Salaries Payable 14,000 Common Stock 25,000 Service Revenue 63,000 Administrative Expenses 44,400 $112,500 $112,500 A. Prepare an income statement for Complany A. Company A Income Statement For the Year Ended December 31, 20XX Revenues: Expenses: B. Prepare a statement of retained earnings for Company A. If an amount box requires zero, enter "0". Company A Retained Earnings Statement For the Year Ended December 31, 20XX

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 18PA: From the following Company Y adjusted trial balance, prepare simple financial statements, as...

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