unadjusted Trial alae Adjusted Trial Balance Debit Adjustments |Credit |Credit 10130.00 5900.00 4327.00 12000.00 Account Title CASH ACCOUNTS RECEIVABLE SUPPLIES PREPAID RENT EQUIPMENT ACCU DEPRECIATION ACCOUNTS PAYABLE NOTES PAYABLE UTILITIES PAYABLE INTEREST PAYABLE Debit Credit Debit 10430.00 5900.00 22807.00 24000.00 37000.00 18480.00 12000.00 37000.00 1100.00 1100.00 5200.00 5200.00 30537.00 30537.00 3964.00 3964.00 150.00 150.00 82600.00 SERVICE REVENUE WAGES EXPENSE SUPPLIES EXPENSE RENT EXPENSE DEPRECIATION EXPENSE ELECTRICITY EXPENSE TELEPHONE EXPENSE INTEREST EXPENSE 82600.00 18200.00 18480.00 18200.00 18480.00 12000.00 12000.00 1100.00 1100.00 2470.00 2470.00 1494.00 1494.00 150.00 150.00 31730.00 31730.00 123551.00 123551.00 Totak 122301.00 122301.00 The above data were extracted from Nadia's Boutique accounts as of December 31, 2019. Based on the above information, prepare the company's classified financial statement.

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter2: The Accounting Information System
Section: Chapter Questions
Problem 36E
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PART B
Question 1
Unadjusted Trial halare
Debit
Adaustments
|Credit
Debit
Adpusted Trial Balance
|Credit
Account Title
CASH
ACCOUNTS RECEIVABLE
SUPPLIES
PREPAID RENT
EQUIPMENT
ACCU DEPRECIATION
ACCOUNTS PAYABLE
NOTES PAYABLE
UTILITIES PAYABLE
INTEREST PAYABLE
SERVICE REVENUE
WAGES EXPENSE
SUPPLIES EXPENSE
RENT EXPENSE
DEPRECIATION EXPENSE
ELECTRICITY EXPENSE
TELEPHONE EXPENSE
INTEREST EXPENSE
Debit
10430.00
5900.00
4327.00
12000.00
37000.00
|Credit
10430.00
5900.00
18480.00
12000.00
22807.00
24000.00
37000.00
1100.00
1100.00
5200.00
30537.00
3964.00
5200.00
30537.00
3964.00
150.00
82600.00
150.00
82600.00
18200.00
18200.00
18480.00
18480.00
12000.00
1100.00
12000.00
1100.00
2470.00
1494.00
2470.00
1494.00
150.00
150.00
122301.00 122301.00| 31730.00 31730.00 123551.00 123551.00
Totak
The above data were extracted from Nadia's Boutique accounts as of December 31, 2019. Based on the above
information, prepare the company's classified financial statement.
Transcribed Image Text:PART B Question 1 Unadjusted Trial halare Debit Adaustments |Credit Debit Adpusted Trial Balance |Credit Account Title CASH ACCOUNTS RECEIVABLE SUPPLIES PREPAID RENT EQUIPMENT ACCU DEPRECIATION ACCOUNTS PAYABLE NOTES PAYABLE UTILITIES PAYABLE INTEREST PAYABLE SERVICE REVENUE WAGES EXPENSE SUPPLIES EXPENSE RENT EXPENSE DEPRECIATION EXPENSE ELECTRICITY EXPENSE TELEPHONE EXPENSE INTEREST EXPENSE Debit 10430.00 5900.00 4327.00 12000.00 37000.00 |Credit 10430.00 5900.00 18480.00 12000.00 22807.00 24000.00 37000.00 1100.00 1100.00 5200.00 30537.00 3964.00 5200.00 30537.00 3964.00 150.00 82600.00 150.00 82600.00 18200.00 18200.00 18480.00 18480.00 12000.00 1100.00 12000.00 1100.00 2470.00 1494.00 2470.00 1494.00 150.00 150.00 122301.00 122301.00| 31730.00 31730.00 123551.00 123551.00 Totak The above data were extracted from Nadia's Boutique accounts as of December 31, 2019. Based on the above information, prepare the company's classified financial statement.
Expert Solution
Step 1

Financial Statements are formal records of the financial Activities and positions of a organization. It includes the Balance Sheet, Income Statement and Cash Flow Statement and Statment of Owner's Equity. Financial Statements are prepared to give information of company's financial positions to outside users like investors , creditors, loan prodivers etc.

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