Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please use the adjusted year-end trial balance and

Please use the adjusted year-end trial balance and additional information provided below to complete the...

90.2K

Verified Solution

Question

Accounting

imageimage

Please use the adjusted year-end trial balance and additional information provided below to complete the following financial statements in good form for Regency Delivery Inc. (a) Statement of Income (7 marks) (b) Statement of changes Equity (8 marks) (c) Classified Statement of Financial Position (13 marks) Credit Regency Delivery Inc. Adjusted Trial Balance April 30, 2020 Debit Cash 23,000 Prepaid Insurance 38,000 Vehicles 273,000 Accumulated depreciation, Vehicles Salaries payable Mortgage payable Common shares Retained earnings Dividends declared 15,000 Service revenue Depreciation expense 6,825 Income tax expense 63,000 General and administrative expense 66,000 Total $484,825 $68,250 33,000 73,000 73,000 14,575 223,000 $484,825 Additional Information $15,000 Dividends were declared and paid during the year. 5,000 Common shares were issued for $35,000. $15,000 of the mortgage is due in October, 2021 Paragraph B I UA AO Q + V a. Statement of Income (7 marks) REGENCY LTD. Statement of Income

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

Use the data set for these quest 16 22 14 25 18 25

Statistics
Q

You are a Consultant for the professional service firm, BUSI 2083 LLP. Your firm specializes in...

Finance
Q

An English institutional investor has invested in a portfolio of stocks in Russia. The annual inflation...

Finance
Q

4. Acid-base reaction is a neutralization reaction. If 12.50 mL of 1.20 M NaOH solution is...

Chemistry
Q

8. It is required to produce an illumination of 100 lux in a factory hall 30...

Electrical Engineering
Q

Perez Cameras, Inc. manufactures two models of cameras. Model ZM has a zoom lens; Model DS...

Accounting
Q

Which sentence describes the impact of the great oxidation event A It caused existing cyanobacteria...

Biology
Q

3 The 50 lb package starts from rest slides down the smooth ramp and is...

Physics
Q

A ball is thrown straight up from 5 feet above the ground with a velocity...

Basic Math
Q

Overview You are a financial accountant for Posey Company tasked with preparing consolidation documentation at...

Accounting
Q

CPP 6-1 Complete 4th Quarter and Year-End Payroll Reporting (#2) Complete Form 941 for...

Accounting
Q

Requirhet: mithale. a. sevoniline forthod A. Unth-if arurhy metod

Accounting