The adjusted trial balance of Nicks Financial Planners appears below and using the information from the adjusted trial

Question

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. 4. Closing Journal Entries NICKS FINANCIAL PLANNER 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 1,000 Depreciation Expense 2,500 Rent Expense 1,900 $43,900 Total $43,900 $43,900

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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

Expert Solution

Archived Solution

	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	1,000
Depreciation Expense	2,500
Rent Expense	1,900	$43,900
Total	$43,900	$43,900