Complete the worksheet by (a) entering the adjusted trial balance (b) putting in
ID: 2329632 • Letter: C
Question
Complete the worksheet by (a) entering the adjusted trial balance (b) putting in the worksheet income statement and balance sheet columns (c) extending the adjusted trial balance to the income statement and balance sheet columns and (d) balancing the worksheet
Retained Earnings account? E3-14B. Worksheet The adjusted trial balance columns of a worksheet for Frankfurt Corporation are shown below. The worksheet is prepared for the year ended December 31. Adjusted Trial Balance Debit Credit $ 14,000 16,500 78,000 . Accounts receivable. . . . Equipment . $24,000 10,000 43,000 20,600 Retained earnings .. 8,000 81,000 .. 18,000 Rent expense Salaries expense ....37,100 7,000 . ..$178,600 $178,600Explanation / Answer
Answer
Accounts title
Adjusted Trial Balance
Income Statement
Balance Sheet
Debit
Credit
Debit
Credit
Debit
Credit
Cash
$ 14,000.00
$ 14,000.00
Accounts receivables
$ 16,500.00
$ 16,500.00
Equipment
$ 78,000.00
$ 78,000.00
Accumulated Depreciation
$ 24,000.00
$ 24,000.00
Notes Payable
$ 10,000.00
$ 10,000.00
Common Stock
$ 43,000.00
$ 43,000.00
Retained Earnings
$ 20,600.00
$ 20,600.00
Cash Dividends
$ 8,000.00
$ 8,000.00
Service Fees earned
$ 81,000.00
$ 81,000.00
Rent Expenses
$ 18,000.00
$ 18,000.00
Salaries expenses
$ 37,100.00
$ 37,100.00
Depreciation expenses
$ 7,000.00
$ 7,000.00
Total
$ 178,600.00
$ 178,600.00
$ 62,100.00
$ 81,000.00
$ 116,500.00
$ 97,600.00
Net Income
$ 18,900.00
$ 18,900.00
TOTAL after balancing
$ 178,600.00
$ 178,600.00
$ 81,000.00
$ 81,000.00
$ 116,500.00
$ 116,500.00
Accounts title
Adjusted Trial Balance
Income Statement
Balance Sheet
Debit
Credit
Debit
Credit
Debit
Credit
Cash
$ 14,000.00
$ 14,000.00
Accounts receivables
$ 16,500.00
$ 16,500.00
Equipment
$ 78,000.00
$ 78,000.00
Accumulated Depreciation
$ 24,000.00
$ 24,000.00
Notes Payable
$ 10,000.00
$ 10,000.00
Common Stock
$ 43,000.00
$ 43,000.00
Retained Earnings
$ 20,600.00
$ 20,600.00
Cash Dividends
$ 8,000.00
$ 8,000.00
Service Fees earned
$ 81,000.00
$ 81,000.00
Rent Expenses
$ 18,000.00
$ 18,000.00
Salaries expenses
$ 37,100.00
$ 37,100.00
Depreciation expenses
$ 7,000.00
$ 7,000.00
Total
$ 178,600.00
$ 178,600.00
$ 62,100.00
$ 81,000.00
$ 116,500.00
$ 97,600.00
Net Income
$ 18,900.00
$ 18,900.00
TOTAL after balancing
$ 178,600.00
$ 178,600.00
$ 81,000.00
$ 81,000.00
$ 116,500.00
$ 116,500.00
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