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Homework answers / question archive / Golden West College - ACCOUNTING G101 ACCOUNTING G101 – Financial Accounting Using the information presented below, prepare in proper format for the year ending December 31, 2015: an income statement a statement of retained earnings a balance sheet   Whitney Corp

Golden West College - ACCOUNTING G101 ACCOUNTING G101 – Financial Accounting Using the information presented below, prepare in proper format for the year ending December 31, 2015: an income statement a statement of retained earnings a balance sheet   Whitney Corp

Accounting

Golden West College - ACCOUNTING G101

ACCOUNTING G101 – Financial Accounting

Using the information presented below, prepare in proper format for the year ending December 31, 2015:

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

 

Whitney Corp.

Adjusted Trial Balance December 31, 2015

Account Title                              Debit                  Credit

 

Cash

18,400

 

Accounts Receivable

15,500

Inventory

21,200

Machine

53,000

Accumulated Depreciation

 

4,000

Notes Payable

 

29,000

Accounts Payable

 

3,900

Common Stock

 

40,000

Retained Earnings

 

17,800

Dividends

5,600

 

Sales Revenue

 

45,200

Salaries Expense

17,300

 

Insurance Expense

5,000

 

Utilities Expense

2,400

 

 

          

               Depreciation Expense                    1,500                      

              Total                                            139,900                139,900                                     

Use the tables provided to prepare the financial statements.

4. What is the total amount of the credit column in the post-closing trial balance of Whitney Corp. on December 31, 2015? [put the answer in the blank to the right.]           

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