From the following Company Y adjusted trial balance, prepare simple financial statements, as follows: A....
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From the following Company Y adjusted trial balance, prepare simple financial statements, as follows: A. Prepare an income statement for Company Y. Company Y Adjusted Trial Balance Income Statement For the Year Ended December 31, 20XX Debit Credit Revenues: $32,000 Expenses: Cash Accounts Receivable 18,300 Total Expenses Prepaid Insurance 6,400 Land 11,000 B. Prepare a statement of retained earnings for Compa Company Y Retained Earnings Statement For the Year Ended December 31, 20xx Accounts $11,900 Payable Salaries Payable 6,000 Common Stock 33,000 c. Prepare a balance sheet for Company Y. Company Y Balance Sheet December 31, 20xx Assets Retained Earnings Dividends 5,200 9,000 Service 73,000 Revenue Insurance 5,600 Total Assets Liabilities Expense Salaries Expense 24,000 Total Liabilities Equity Miscellaneous Expense 22,800 Total Equity $129,100 $129,100 Total Liabilities and Equity
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