Firefox Archivo Editar Ver Historial Marcadores Herramientas Ventana Ayuda A_* 4

Question

Firefox Archivo Editar Ver Historial Marcadores Herramientas Ventana Ayuda A_* 49 (1:55) Tue 10:12 PM Jose Mejia Chapter 3 Homework 218 "el Chiringuito de Jugones... xB CONNECT Learning Managemen M Chapter 3 Homework How to take a screenshot on yo... x + ezto.mheducation.com/hm.tpx?--0.525832 1148484696_1463540970376 G Más visitados Getting Started Apple M Yahoo! Google Maps YouTube W Wikipedia- News Popular Marcadores value: 5.00 points The following accounts are taken from Equilibrium Riding, Inc., a company that specializes in occupational therapy and horseback riding lessons, as of December 31 EQUILIBRIUM RIDING, INC. Unadjusted Trial Balance At December 31 Account Name Cash Accounts Receivable Prepaid Insurance Equipment Land Accounts Payable Unearned Revenue Notes Payable (long-term) Common stock Retained Earnings Dividends Service Revenue Wages Expense Repairs and Maintenance Expense Office Expenses Debits Credits $ 66,450 6,800 6,200 72,600 36,300 $ 29,850 1,600 71,000 5,000 58,805 31,000 7,700 520 685 Totals $197,255 $197,255

Explanation / Answer

Income statement for the period 31st December

Service revenue $31000

Less :

Wages 7700

Repair and maintenance. 520

Office expenses. 685 $8905

Net profit. $22095

2. Statement of Retained Earning;

Retained earnings as on jan 1 $58805

Current year profit. $22095

Retained earnings ,dec31. $80600

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