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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
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.
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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