Debit Company – Financial statements
dental doctor
1) The adjusted trial balance of Debit Company is shown below:
Debit Company
Adjusted Trial Balance
December 31, 2012
Cash $6,500
Accounts receivable 8,000
Supplies 1,000
Prepaid Rent (3 months) 2,500
Equipment, net 42,000
Accounts payable $4,000
Salary payable 2,000
Unearned revenue (2 month advance) 2,000
Note payable — long term 14,000
Common stock 10,000
Retained earnings 14,700
Dividends 4,000
Service revenue 75,000
Salary expense 40,000
Rent expense 10,000
Supplies expense 1,500
Depreciation expense 5,000
Utilities expense 1,200
Total $121,700 $121,700
Prepare Debit Company's income statement, statement of retained earnings and balance sheet for the year ended December 31, 2012. (10 points each, total 30 points)
- 10 years ago
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- debit_company_-_financial_statements.docx