Please create income statement and balance sheet from the trial balance below. As of December 31st, 2001 Account Cash Account Receivable Revenue Depreciation Expense Rent/Insurance Marketing Expense Loan Payable Equity Utilities Expense Accumulated Depreciation Intangible Asset Wage Expense R&D Expense Account Payable Total Debit $339,700 $0 $401,305 $2,000 $23,000 $1,000 $300 $4,000 Credit $63,800 $120,000 $2,000 $401,305 $500,000 $2,000 $53,800 $957,105 $957,105

Please create income statement and balance sheet from the trial balance below. As of December 31st, 2001 Account Cash Account Receivable Revenue Depreciation Expense Rent/Insurance Marketing Expense Loan Payable Equity Utilities Expense Accumulated Depreciation Intangible Asset Wage Expense R&D Expense Account Payable Total Debit $339,700 $0 $401,305 $2,000 $23,000 $1,000 $300 $4,000 Credit $63,800 $120,000 $2,000 $401,305 $500,000 $2,000 $53,800 $957,105 $957,105

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 7PB: Using the following information, A. Make the December 31 adjusting journal entry for depreciation....

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