Provided below is the adjusted trial balance of Garden Wizards. GARDEN WIZARDS Adjusted Trial balance December 31, 2020 Debit Balances Rs. Credit Balances Rs. Cash 450 Accumulated Depreciation: Furniture and fixtures 6600 Accounts Receivable 220 Accounts Payable 7100 Unexpired Insurance 1600 Notes Payable 24000 Prepaid Rent 1800 Salaries Payable 2100 Office Supplies 900 Interest payable 170 Furniture and fixtures 10000 Unearned Services Revenue 600 Insurance Expense 6200 Capital Stock 4000 Office Rent Expense 12000 Retained Earning 2000 Supplies Expense 300 Services Revenue 56700 Salary expense 48000 Depreciation expense: furniture and fixtures 1200 Office and telephone expense 4600 Internet service expense. 7200 Legal expense 1800 Interest expense 2700 Miscellaneous expense 4300 Total 103,270 Total 103,270 Required: ⦁ Prepare the following statements of the company from the data given above: ⦁ Income Statement for the year ending at December 31, 2020 ⦁ Retained Earnings Statement for the year ending at December 31, 2020 ⦁ Balance Sheet as at December 31, 2020
Provided below is the adjusted
GARDEN WIZARDS
Adjusted Trial balance
December 31, 2020
Debit Balances Rs. Credit Balances Rs.
Cash 450 Accumulated
Accounts Receivable 220 Accounts Payable 7100
Unexpired Insurance 1600 Notes Payable 24000
Prepaid Rent 1800 Salaries Payable 2100
Office Supplies 900 Interest payable 170
Furniture and fixtures 10000 Unearned Services Revenue 600
Insurance Expense 6200 Capital Stock 4000
Office Rent Expense 12000 Retained Earning 2000
Supplies Expense 300 Services Revenue 56700
Salary expense 48000
Depreciation expense: furniture and fixtures 1200
Office and telephone expense 4600
Internet service expense. 7200
Legal expense 1800
Interest expense 2700
Miscellaneous expense 4300
Total 103,270 Total 103,270
Required:
⦁ Prepare the following statements of the company from the data given above:
⦁ Income Statement for the year ending at December 31, 2020
⦁
⦁ Balance Sheet as at December 31, 2020
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