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Homework answers / question archive /   Wellesley College - SPAN 259 The adjusted trial balance of Nicks Financial Planners appears below and using the information from the adjusted trial balance, you are to prepare for the month ending December 31: an income statement; a retained earnings statement; and a balance sheet

  Wellesley College - SPAN 259 The adjusted trial balance of Nicks Financial Planners appears below and using the information from the adjusted trial balance, you are to prepare for the month ending December 31: an income statement; a retained earnings statement; and a balance sheet

Accounting

 

Wellesley College - SPAN 259

The adjusted trial balance of Nicks Financial Planners appears below and using the information from the adjusted trial balance, you are to prepare for the month ending December 31:

  1. an income statement;
  2. a retained earnings statement; and
  3. a balance sheet.

NICKS FINANCIAL PLANNERS

Adjusted Trial Balance December 31, 2011

 

 

   Debit

  Credit

Cash .....................................................................................................

$ 16,400

 

Accounts Receivable ............................................................................

2,200

 

Office Supplies .....................................................................................

1,800

 

Office Equipment ..................................................................................

15,500

 

Accumulated Depreciation—Office Equipment .....................................

 

$ 4,000

Accounts Payable ................................................................................

 

3,000

Unearned Service Revenue .................................................................

 

5,000

Common Stock......................................................................................

 

17,000

Retained Earnings ................................................................................

 

7,400

Dividends .............................................................................................

2,500

 

Service Revenue ..................................................................................

 

7,500

Office Supplies Expense ......................................................................

1,100

 

Depreciation Expense ..........................................................................

2,500

 

Rent Expense .......................................................................................

    1,900

                  

 

$43,900

$43,900

 

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