Problem 3 Using the following Adjusted Trial Balance prepare an Income Statement, Retained Earnings Statement...
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Accounting
Problem 3 Using the following Adjusted Trial Balance prepare an Income Statement, Retained Earnings Statement and Balance Sheet in correct form. The Marley Company Adjusted Trial Balance December 31, 2020 Account Title Debit Credit Cash 70,000 Accounts Receivable 45,000 Prepaid Insurance 5,000 Accounts Payable 25,000 Bonds Payable 50,000 Common Stock 10,000 Retained Earnings, Jan 1 20,000 Dividends 5,000 Consulting Revenue 90,000 Wage Expense 50,000 Insurance Expense 5,000 Utilities Expense 15,000 Total 195,000 195,000
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