Financial_Statement_Problem_2

Financial_Statement_Problem_2 - $120,000 Advances from...

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The following represents the adjusted trial balance for Thurber, Inc. as of 12/31/2004. Provide an income statement, statement of retained earnings, and statement of financial position, all in good form, for Thurber, Inc. Do not abbreviate account titles. Debit Credit Cash $37,400 Accumulated Depreciation $43,000 Supplies $1,200 Accounts Payable $14,600 Prepaid Insurance $3,900 Interest Payable $6,000 Land $70,000 Income Tax Payable $3,000 Equipment
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Unformatted text preview: $120,000 Advances from Customers $1,700 Dividends $14,000 Note Payable (Long Term) $40,000 Salaries Expense $109,000 Common Stock $50,000 Repair Expense $30,500 Retained Earnings $59,700 Advertising Expense $9,400 Admissions Revenue $279,500 Utilities Expense $16,900 Income Tax Expense $21,000 Interest Expense $12,000 Insurance Expense $28,000 Supplies Expense $17,400 Depreciation Expense $6,800 Total $497,500 $497,500...
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