B-04.03 Problem

B-04.03 Problem - 25,000 25,000 25,000 Capital stock 50,000...

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B-04.03 Utilize the following worksheet to prepare the income statement, statement of retained earnings, and balance sheet for Himarios Corporation. For this problem, you do not need to prepare a classified balance sheet. HIMARIOS COMPANY WORKSHEET TO PREPARE FINANCIAL STATEMENTS DECEMBER 31, 20X9 Trial Balance Adjustments Adjusted Trial Balance Income Statement Statement of Retained Earnings Balance Sheet Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit Cash 59,300 $ 59,300 $ 59,300 $ Accounts receivable 12,371 12,371 12,371 Equipment 60,000 60,000 60,000 Accumulated depreciation 12,000 $ 4,000 $ 16,000 $ 16,000 $ Accounts payable 7,566 7,566 7,566 Unearned revenue 4,000 1,500 $ 2,500 2,500 Notes payable
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Unformatted text preview: 25,000 25,000 25,000 Capital stock 50,000 50,000 50,000 Retained earnings, Jan. 1 6,343 6,343 6,343 $ Service revenue 139,987 1,500 141,487 141,487 $ Salaries expense 108,425 4,300 112,725 112,725 $ Iinterest expense 2,100 2,100 2,100 Dividends 2,700 2,700 2,700 $ Depreciation expense 4,000 4,000 4,000 Salaries payable 4,300 4,300 4,300 Rent expense 2,500 2,500 2,500 Rent payable---2,500-2,500--2,500 244,896 $ 244,896 $ 12,300 $ 12,300 $ 255,696 $ 255,696 $ 121,325 $ 141,487 $ Net income 20,162--20,162 141,487 $ 141,487 $ 2,700 $ 26,505 $ Retained earnings, Dec. 31 23,805--23,805 26,505 $ 26,505 $ 131,671 $ 131,671 $...
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This note was uploaded on 02/29/2012 for the course ACCOUNTING 101 taught by Professor Hudack during the Spring '11 term at FIU.

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