The adjusted trial balance of C.S. Financial Planners appears below (in 000) December 31, 2017:DebitCreditCash .5,000Accounts Receivable...2,2002,800Supplies. .Equipment.Accumulated Depreciation-Equipment...Accounts Payable. .15,0004,5003,3006,000Unearned Service Revenue..Share Capital-Ordinary..Retained Earning .Dividends .Service Revenue...Supplies Expense...Depreciation ExpenseRent Expense..10,000?.2,5004,3006002,5001,90032,50032,500Required:Using the information from the adjusted trial balance, prepare for the Year ending December 31, 2017:1. Income statement.2. Retained earnings statement.3. Statement of financial position.

With the help of given adjusted trial balance, we have to prepare different statements: 1. Income…

The adjusted trial balance of C.S. Financial Planners appears below (in 000) December 31, 2017: Debit 5,000 2,200 2,800 Credit Cash. Accounts Receivable... Supplies. . Equipment .. Accumulated Depreciation-Equipment... Accounts Payable . Unearned Service Revenue.. 15,000 4,500 3,300 6,000 10,000 ? .............. Share Capital-Ordinary.. Retained Earnings... Dividends . ........ ..2,500 Service Revenue. 4,300 Supplies Expense... Depreciation Expense Rent Expense.. 600 2,500 1,900 32,500 32,500 Required: Using the information from the adjusted trial balance, prepare for the Year ending December 31, 2017: 1. Income statement. 2. Retained earnings statement. 3. Statement of financial position.

The adjusted trial balance of C.S. Financial Planners appears below (in 000) December 31, 2017: Debit 5,000 2,200 2,800 Credit Cash. Accounts Receivable... Supplies. . Equipment .. Accumulated Depreciation-Equipment... Accounts Payable . Unearned Service Revenue.. 15,000 4,500 3,300 6,000 10,000 ? .............. Share Capital-Ordinary.. Retained Earnings... Dividends . ........ ..2,500 Service Revenue. 4,300 Supplies Expense... Depreciation Expense Rent Expense.. 600 2,500 1,900 32,500 32,500 Required: Using the information from the adjusted trial balance, prepare for the Year ending December 31, 2017: 1. Income statement. 2. Retained earnings statement. 3. Statement of financial position.

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter1: Introduction To Business Activities And Overview Of Financial Statements And The Reporting Process

Section: Chapter Questions

Problem 39P

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