Chapter 3 assignments and solutions

Chapter 3 assignments and solutions - CHAPTER 3 HOMEWORK -...

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CHAPTER 3 HOMEWORK - SOLUTIONS Ex. 3-127 The adjusted trial balance of Ryan Financial Planners appears below. Using the information from the adjusted trial balance, you are to prepare for the month ending December 31: 1. an income statement. 2. a statement of retained earnings. 3. a balance sheet. RYAN FINANCIAL PLANNERS Adjusted Trial Balance December 31, 2010 Debit Credit Cash . .............................................................................................. $ 13,400 Accounts Receivable. ......................................................................... 3,200 Office Supplies. .................................................................................. 1,800 Office Equipment. .............................................................................. 15,000 Accumulated Depreciation—Office Equipment. ............................... $ 5,000 Accounts Payable. .............................................................................. 3,800 Unearned Revenue. ............................................................................ 5,000 Common Stock. .................................................................................. 20,000 Retained Earnings. ............................................................................. 4,400 Dividends . ......................................................................................... 3,500 Service Revenue. ................................................................................ 3,700 Office Supplies Expense. ................................................................... 600 Depreciation Expense. ....................................................................... 2,500 Rent Expense. .................................................................................... 1,900 ______ $41,900 $41,900
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Solution 3-127 1. RYAN FINANCIAL PLANNERS Income Statement For the Month Ended December 31, 2010
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Chapter 3 assignments and solutions - CHAPTER 3 HOMEWORK -...

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