Question 1: Cromwell Corporation has the following trial balance account balances, given in no certain order, as of December 31, 2018. Retained Earnings at January 1, 2018 was $3,600. Using the information provided, prepare Cromwell's annual financial statements (omit the Statement of Cash Flows). Supplies Fees earned Accounts receivable Accounts payable Office furniture Rent expense Cash Electricity expense Common stock Miscellaneous expenses Dividends $ 865 22,850 2,580 1,945 12,685 12,240 4,695 1,380 10,000 1,450 2,500
Question 1: Cromwell Corporation has the following trial balance account balances, given in no certain order, as of December 31, 2018. Retained Earnings at January 1, 2018 was $3,600. Using the information provided, prepare Cromwell's annual financial statements (omit the Statement of Cash Flows). Supplies Fees earned Accounts receivable Accounts payable Office furniture Rent expense Cash Electricity expense Common stock Miscellaneous expenses Dividends $ 865 22,850 2,580 1,945 12,685 12,240 4,695 1,380 10,000 1,450 2,500
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter21: The Statement Of Cash Flows
Section: Chapter Questions
Problem 21E: (Appendix 21.1) Visual Inspection The following changes in account balances were taken from Walson...
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Transcribed Image Text:Question 1: Cromwell Corporation has the following trial balance account balances, given in no
certain order, as of December 31, 2018. Retained Earnings at January 1, 2018 was $3,600. Using
the information provided, prepare Cromwell's annual financial statements (omit the Statement of
Cash Flows).
Supplies
Fees earned
$.
865
22,850
2,580
1,945
12,685
12,240
4,695
1,380
10,000
1,450
2,500
Accounts receivable
Accounts payable
Office furniture
Rent expense
Cash
Electricity expense
Common stock
Miscellaneous expenses
Dividends
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