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Preparing Financial Statements from Adjusted Account Balances Use the following year-end adjusted trial balance...

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Accounting

Preparing Financial Statements from Adjusted Account Balances
Use the following year-end adjusted trial balance to answer questions 1-3.
\table[[,,],[,Debit,Credit],[Cash,$3,050,],[Accounts receivable,400,],[Prepaid insurance,910,],[Equipment,217,200,],[Accumulated depreciation-Equipment,,$ 29,100],[Interest payable,,4,480],[Unearned revenue,,460],[Long-term notes payable,,150,000],[M. Choi, Capital,,40,340],[M. Choi, Withdrawals,21,000,],[Services revenue,,57,500],[Wages expense,25,000,],[Utilities expense,1,900,],[Insurance expense,3,450,],[Depreciation expense-Equipment,5,970,],[Interest expense,3,000,],[Totals,$281,880,$281,880
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