The adjusted trial balance for Happ Company follows. Adjusted Trial Balance December 31 Number 101 106 153 154 183 201 209 233 307 318 319 401 611 622 640 Account Title Cash Accounts receivable Trucks Accumulated depreciation-Trucks Land Accounts payable Salaries payable Unearned revenue Common stock Retained earnings Dividends Plumbing revenue Depreciation expense-Trucks Salaries expense Rent expense Totals Debit $ 7,000 27,200 42,000 32,000 Credit $ 17,500 15,000 4,200 3,600 40,900 24,600 84,000 15,400 6,500 46,700 13,000 $ 189,800 $ 189,800 a. Use the adjusted trial balance to prepare the December 31 year-end income statement. b. Use the adjusted trial balance to prepare the December 31 year-end statement of retained earnings. The Retained earnings account balance was $24,600 on December 31 of the prior year. c. Use the adjusted trial balance to prepare the December 31 year-end balance sheet.

The adjusted trial balance for Happ Company follows. Adjusted Trial Balance December 31 Number 101 106 153 154 183 201 209 233 307 318 319 401 611 622 640 Account Title Cash Accounts receivable Trucks Accumulated depreciation-Trucks Land Accounts payable Salaries payable Unearned revenue Common stock Retained earnings Dividends Plumbing revenue Depreciation expense-Trucks Salaries expense Rent expense Totals Debit $ 7,000 27,200 42,000 32,000 Credit $ 17,500 15,000 4,200 3,600 40,900 24,600 84,000 15,400 6,500 46,700 13,000 $ 189,800 $ 189,800 a. Use the adjusted trial balance to prepare the December 31 year-end income statement. b. Use the adjusted trial balance to prepare the December 31 year-end statement of retained earnings. The Retained earnings account balance was $24,600 on December 31 of the prior year. c. Use the adjusted trial balance to prepare the December 31 year-end balance sheet.

Name: The adjusted trial balance for Happ Company follows.Adjusted Trial Ba
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Description: The adjusted trial balance for Happ Company follows.Adjusted Trial BalanceDecember 31Number101106153154183201209233307318319401611622640Account TitleCashAccounts receivableTrucksAccumulated depreciation-TrucksLandAccounts payableSalaries payableUnea

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.23E: Unusual income statement items Assume that the amount of each of the following items is material to...

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