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Home / Questions / Using the following worksheet, please prepare an income statement. The data are for the A

Using the following worksheet, please prepare an income statement. The data are for the A

Using the following worksheet, please prepare an income statement.  The data are for the Alcazar Service                                           Co., for the year ended December 31, 2012.

Trial BalanceAdjustmentsAdjusted Trial BalanceIncome StatementBalance Sheet

Account TitleDr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.

Cash$1,700$1,700$1,700

Accounts receivable8,500$2,00010,50010,500

Supplies100$802020

Equipment7,5007,5007,500

Accumulated depreciation$2,000240$2,240              $2,240

Accounts payable1,2001,2001,200

Salary payable800180980980

Unearned revenue600600600

Common stock1,0001,0001,000

Retained earnings2,4002,4002,400

Dividends2,3002,3002,300

Service revenue40,0002,00042,000$42,000

Salary expense24,00018024,180$24,180

Supplies expense2,300802,3802,380

Depreciation expense1,6002401,8401,840

$48,000$48,000$2,500$2,500$50,420$50,420$28,400              $42,000              $22,020              $8,420

13,60013,600

$42,000$42,000$22,020              $22,020

5Using the following worksheet, please prepare a statement of retained earnings. The data are for the                                           Alcazar Service Co., for the year ended December 31, 2012.

Trial BalanceAdjustmentsAdjusted Trial BalanceIncome StatementBalance Sheet

Account TitleDr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.

Cash$1,700$1,700$1,700

Accounts receivable8,500$2,00010,50010,500

Supplies100$802020

Equipment7,5007,5007,500

Accumulated depreciation$2,000240$2,240              $2,240

Accounts payable1,2001,2001,200

Salary payable800180980980

Unearned revenue600600600

Common stock1,0001,0001,000

Retained earnings2,4002,4002,400

Dividends2,3002,3002,300

Service revenue40,0002,00042,000$42,000

Salary expense24,00018024,180$24,180

Supplies expense2,300802,3802,380

Depreciation expense1,6002401,8401,840

$48,000$48,000$2,500$2,500$50,420$50,420$28,400              $42,000              $22,020              $8,420

13,60013,600

$42,000$42,000$22,020              $22,020

6Using the following worksheet, please prepare a balance sheet. The data are for the Alcazar Service Co.,                                           for the year ended December 31, 2012.

 

Trial BalanceAdjustmentsAdjusted Trial BalanceIncome StatementBalance Sheet

Account TitleDr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.Dr.Cr.

Cash$1,700$1,700$1,700

Accounts receivable8,500$2,00010,50010,500

Supplies100$802020

Equipment7,5007,5007,500

Accumulated depreciation$2,000240$2,240              $2,240

Accounts payable1,2001,2001,200

Salary payable800180980980

Unearned revenue600600600

Common stock1,0001,0001,000

Ret. earnings2,4002,4002,400

Dividends2,3002,3002,300

Service revenue40,0002,00042,000$42,000

Salary expense24,00018024,180$24,180

Supplies expense2,300802,3802,380

Depreciation expense1,6002401,8401,840

$48,000$48,000$2,500$2,500$50,420$50,420$28,400              $42,000              $22,020              $8,420

13,60013,600

$42,000$42,000$22,020              $22,020

 

Accounts receivable10,500Salaries payable980

Supplies20Unearned revenue600

Equipment$7,500Total liabilities$2,780

Less: Accumulated

depreciation

2,240

5,260

Stockholders’ Equity

Retained earnings13,700

Total stockholders’ equity14,700

 

Total assets

$17,480Total liabilities and

stockholders’ equity

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