Balance sheet and statement of retained earnings

Assignment Help Accounting Basics

Reference no: EM13259533

The adjusted balances taken from the general ledger of Coopertown Suppliers, Inc. is listed below in general ledger order. Transfer these accounts and balances and prepare an Income statement, Balance Sheet, and Statement of Retained Earnings all in good form using proper headings for each statement.

Coopertown Suppliers, Inc.
	DR	CR
cash	$12,950
accounts receivable	$28,150
supplies	$4,400
prepaid insurance	$9,500
land	$100,000
buildings	$360,000
equipment	$260,000
accumulated depreciation - equipment		$269,900
accounts payable		$33,300
salaries payable		$33,00
common stock		$1,500
retained earnings		$427,600
dividends	$25,000
service fees		$475,000
rent revenue		$5,000
salaries expense	$340,600
depreciation expense	$25,100
supplies expense	$10,950
insurance expense	$3,000
miscellaneous selling and admin expense	$30,850
utilities expense	$5,100
Total	$1,215,600	$1,215,600

Reference no: EM13259533

Questions Cloud

Explain how many pounds of cargo was added : If cargo is added so that the ship now sits 20' in the water, how many pounds of cargo was added? Please explain how come to the answer. The answer is suppose to be around 28,000 tons.

What is the frequency of the source : When a 6.0 µF capacitor is connected to a generator whose rms output is 30 V, What is the frequency of the source

Nature of conflict and perspectives on conflict : Complete a paper analysing these two conflicts, "Nature of conflict", and "Perspectives on conflict".and your role in the conflict.

What is the voltage of that point-relative to ground : If the resistance path from the wall outlet end of the neutral wire to ground is 23ohm. what is the voltage of that point (relative to ground) if a 26 W compact fluorescent bulb is connected to the outlet

Balance sheet and statement of retained earnings : The adjusted balances taken from the general ledger of Coopertown Suppliers, Inc. is listed below in general ledger order. Transfer these accounts and balances and prepare an Income statement, Balance Sheet, and Statement of Retained Earnings all ..

Determine the entropy of an ideal gas with cp : Determine the entropy of an ideal gas with cp=(7/2)R,between the following states: P1=1bar,T1= 300K, P2= 0.5bar, T2= 500K

Explain the most likely source of error in the experiment : A a student started with a mixture weighing 1.356 gm. The student recovered 1.543 g . Assuming that all calculations were done correctly what was the most likely source of error in the experiment

What capacitance should be used : An RLC circuit is used in a radio to tune into an FM station broadcasting at f = 99.7 MHz. The resistance in the circuit is R = 12.4 ?, What capacitance should be used

Determine the adequacy of the vitamin intake : A scientific study looks at the nutrient intakes of a group of families that visit food banks at least once a month. Which standard(s) will the researchers use to determine the adequacy of the vitamin intake?

User Account

All Pages