Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please create income statement and balance sheet f

Please create income statement and balance sheet from the trial balance below. As of...

80.2K

Verified Solution

Question

Accounting

Please create income statement and balance sheet from the trial balance below.

As of December 31st, 2001
Account Debit Credit
Cash $339,700 $0
Account Receivable $401,305
Revenue $401,305
Depreciation Expense $2,000
Rent/Insurance $23,000
Marketing Expense $1,000
Loan Payable $300
Equity $500,000
Utilities Expense $4,000
Accumulated Depreciation $2,000
Intangible Asset $63,800
Wage Expense $120,000
R&D Expense $2,000
Account Payable $53,800
Total $957,105 $957,105

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Find the indicated root.?169Select the correct choice below and, if necessary, fill in the answer...

Algebra
Q

Water is boiled in a cup and its placed in a room that is 25 degrees...

Advance Math
Q

For this activity, I want you to GO OUTSIDE. You don't have to go far. Find...

Operations Management
Q

A mole of air is sampled from the atmosphere when the atmospheric pressure is 765 mm...

Chemistry
Q

what are the different opinions regarding social work between Jane Addams and Mary Richmond?

Psychology
Q

in your own words Define ideal partner profile in business and write the importance of Ideal...

General Management
Q

A large chocolate bar has a base area of 55 62 square feet and its...

Basic Math
Q

n and Question Identify the explanatory variable and the response var A golfer wants to...

Statistics
Q

16. Application of Time Value of Money Skills Harry Hurler has been playing baseball since...

Accounting
Q

Pressing ESC does what in QuickBooks? A. Closes QuickBooks B. Closes the open window in...

Accounting
Q

please use excel Problem 4: If the dividends on a preferred stock is $9...

Finance
Q

you entered a one-year long forward contract on FOJC in April 2023 when the forward...

Finance